Ring Protocol
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Ring DAO
The Decentralized Autonomous Organization governs Ring Protocol
A core principle of Ring Protocol is its fully decentralized design and minimal dependence on any centralized assets or protocols on Ethereum. Ring Protocol has a DAO called the Ring DAO from the start. The DAO is responsible for utilizing all of the flexible and powerful features of Ring Protocol to continually enhance the protocol in an ever-evolving DeFi space.

Responsibilities

Ring Protocol design and implementation minimize the governance for peg maintenance related activities. Beyond the inherent need for the initial protocol tuning, the Ring DAO is primarily responsible for two things: upgrades and integrations.
Parameter tuning and changes that the Ring DAO can make:
    grant/revoke roles
    add/remove incentive contracts for RUSD
    change PCV allocations
    update bonding curve buffer target
    adjust rewards from the staking pool
    upgrade oracles and other contracts throughout the system

Design

The Ring DAO is forked from the Compound Governor Alpha and Timelock.
Parameter modifications from Compound implementation:
    2.5% Quorum
    .25% proposal threshold
    12 hour voting delay (3333 blocks)
    36 hour voting period (10000 blocks)
    24 hour timelock delay
    Instead of the COMP token, the Ring DAO is controlled by RING
    The Guardian can transfer the Guardian role
Diffchecker
Compound DAO vs Ring DAO
Ring Protocol implementation enables a flexible access control system. The Timelock is appointed as a Governor⚖️, but it doesn't have to be the only one. It also doesn't have to be a Governor forever. Ring Protocol can appoint autonomous governors to adjust parameters and PCV based on market conditions. Additionally, a tiered governance structure can be implemented where certain changes require higher quorum thresholds and longer timelocks.
Ultimately the Ring DAO makes all of these decisions as the protocol evolves.
Last modified 4mo ago
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