Administration
Decentralized multisig DAO operations
K9 Finance DAO is governed by the decentralized autonomous organization. Members of the DAO — holders of the KNINE governance token — can vote on high-level proposals, such as whether to add new functionality. For day-to-day tasks, we have a much more narrowly scoped need for somebody to execute privileged operations: an administrator. The administrator rights reside with the DAO multisig wallet (k9safe.eth).
Administrator responsibilities
K9 Finance DAO is a program that runs on the Ethereum and Shibarium blockchain. The Program has an upgrade authority: an address that can replace the program with a newer version. This upgrade authority has a lot of power, which means it is essential to have that power delegated to a multisig wallet on behalf of the DAO.
Multisig administration
Different administration methods exist, each with different advantages and disadvantages.
A single person could act as the administrator. This has a very low overhead, and the administrator can move quickly when there is a need to deploy a critical bug fix. However, it also places a high degree of trust in a single person.
On the opposite side of the spectrum, a DAO program could act as the administrator. Administrative tasks could only be executed after a majority of KNINE token holders approve. This is decentralized, but it makes it very difficult to act quickly when needed.
A good middle ground between the two extremes above is a multi-sig, a program that executes administrative tasks after m-out-of-n members have approved. For m greater than 1, no single party can unilaterally execute administrative tasks, but we only need to coordinate with m parties to get something done, not with a majority of KNINE holders.
Multisig details
For K9 Finance DAO, we use the Safe Wallet, and we require approval from 3 out of 4 members. The members are:
The multi-sig instance is used both as the upgrade authority of the program and as the manager of the Liquid Staking at the K9 Finance DAO.
Administrator authorities are also used for K9 Finance DAO contracts management at Shibarium network:
Farming
k9safe.eth (eth:0xDA4Df6E2121eDaB7c33Ed7FE0f109350939eDA84)
Real Yield Staking
k9safe.eth (eth:0xDA4Df6E2121eDaB7c33Ed7FE0f109350939eDA84)
Vesting
k9safe.eth (eth:0xDA4Df6E2121eDaB7c33Ed7FE0f109350939eDA84)
Pause/Unpause knBONE
The knBONE contract can be paused by:
k9safe.eth (eth:0xDA4Df6E2121eDaB7c33Ed7FE0f109350939eDA84)
The knBONE contract can be un-paused by:
k9safe.eth (eth:0xDA4Df6E2121eDaB7c33Ed7FE0f109350939eDA84)
The functions affected when the contract is on pause
submit
requestWithdrawSplit
delegate
claimTokens
distributeRewards
claimTokensFromValidatorToContract
Pause/Unpause NodeOperatorRegistry
The NodeOperatorRegistry contract can be paused by:
k9safe.eth (eth:0xDA4Df6E2121eDaB7c33Ed7FE0f109350939eDA84)
The NodeOperatorRegistry contract can be un-paused by:
k9safe.eth (eth:0xDA4Df6E2121eDaB7c33Ed7FE0f109350939eDA84)
The functions affected when the contract is on pause
removeInvalidNodeOperator
setRewardAddress
Stop Farming Pool
The FarmingInstance can be stopped by the Farming factory only.
The functions affected when the contract is stopped
deposit
changeRPS
stopMainPool
stopBonusPool
Emergency Stop Real Yield Staking
The Real Yield Staking contract can be stopped (in case of emergency) only by the DEFAULT_ADMIN_ROLE.
The functions affected when contract is stopped:
deposit
Pause/Unpause/EmergencyStop Vesting
The Vesting contract can be paused, unpaused and stopped (in case of emergency) only by the DEFAULT_ADMIN_ROLE.
The functions affected when contract is paused:
deposit
claim
pause
The functions affected when contract is stopped:
deposit
emergencyStop
changeIsOnlyLocked
setBackingRatio
setVestingRatio
setVestingPeriod
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