Ring Protocol
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Protocol Roles
Ring Protocol's Core access control module
Ring Protocol uses access control to define the system's contracts responsibilities.
System Roles:
- Governor ⚖️
- Minter 💰
- Burner 🔥
- PCV Controller ⚙️
- Guardian 🛡️
The Ring Core contract manages access control.
Governor ⚖️
The Governor role is the most powerful role in Ring Protocol. It grants and revokes all other roles in the platform. It manages a multitude of protocol parameters unique to each contract (bonding curve buffer, incentive formulas, oracle windows, and more).
Implementing Governor as a role and not a single contract grants Ring Protocol flexibility to appoint automated governance contracts or different tiers of governance with varying degrees of difficulty for execution criteria.
While the role technically belongs to the Timelock, it is valuable to think of the Ring DAO as the only Governor at launch, since the Ring DAO is the admin of the Timelock.
Minter 💰
Minters create (mint) Ring USD and add it to any address. Minting can be a reward for the actions of supporting the peg, or an issuance mechanism for funding PCV on a bonding curve.
Minter Examples:
PCV Controller ⚙️
PCV Controllers can move PCV from any contract and redeploy it elsewhere. This is done to reweight the peg, facilitate integrations, or protect against adverse conditions.
PCV Controller Example:
Guardian 🛡️
The Guardian enables quick feature shutdowns during unforeseen events. It can revoke any role from the above described role types. It can also shut off additional protocol functionality, and force reweights. It cannot manage PCV or mint RUSD.
Last modified 7mo ago
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