README.md

eBTC Multisig

This repo is where all EVM multisig operations take place for the eBTC Protocol. It relies heavily on ganache-cli, eth-brownie, gnosis-py and a custom developed evolution of ape-safe; great-ape-safe.

Learn more about the eBTC Protocol and checkout its website.

eBTC was built by the Badger DAO. Read more about the Badger DAO and its community at https://badger.com/.

Table of Contents

• Installation
  • OpenSSL Deprecation (macOS)
  • Arm Chipset Architecture (M1/M2)
• Uninstall
• Testing
• Multisig Addresses
• eBTC Governance Operations Instructions
  • Low Sec Governance Operations
  • High Sec Governance Operations
  • Timelock Salt
  • EMERGENCY: Pausing Operations
• eBTC Governance Parameters Cheatsheet

Installation

The recommended installation tool for this repository is poetry:

poetry install

In case of missing python versions, and depending on your setup, you might want to have a look at pyenv.

Enter poetry's virtual environment through poetry shell. You should now be able to run brownie from within this virtual environment. Type exit or ctrl-D to leave the environment.

Alternatively, you could use the requirements.txt (or requirements-dev.txt if you want to include testing packages) via pip: pip install -r requirements.txt.

OpenSSL Deprecation (macOS)

The installation process might run into some OpenSSL issues (fatal error: openssl/aes.h: No such file or directory). Please see the note on OpenSSL in the Vyper docs or this related issue in order to fix it.

Arm Chipset Architecture (M1/M2)

MacBooks with arm chipsets have some additional challenges [source].

In our case, since eth-brownie locks on this borked regex==2021.10.8 [source], we have to override regex after poetry's lock. Go into the virtual environment created by poetry and install the next version of regex:

poetry shell
pip install regex==2021.10.21

You can ignore the following warning:

ERROR: pip's dependency resolver does not currently take into account all the packages that are installed. This behaviour is the source of the following dependency conflicts.
eth-brownie 1.17.0 requires regex==2021.10.8, but you have regex 2021.10.21 which is incompatible.

module 'rlp' has no attribute 'Serializable'

Another corner case you may encountered while trying to run brownie console or scripts is AttributeError: module 'rlp' has no attribute 'Serializable'. Solution can be found here.

poetry shell
pip uninstall rlp --yes && pip install rlp==3.0.0

Warning can be ignored regarding pip's dependency resolver conflicts.

Uninstall

Delete the virtual environment as such:

rm -rf `poetry env info -p`

Running GreatApeSafe Tests

1. Run the following command to install the Sepolia testnet. Don't forget to change the {ALCHEMY_SEPOLIA_RPC_KEY} for your Sepolia Alchemy RPC key:

brownie networks add Ethereum sepolia host=https://eth-sepolia.g.alchemy.com/v2/{ALCHEMY_SEPOLIA_RPC_KEY} chainid=11155111 explorer=https://api-sepolia.etherscan.io/api

2. Run the following command to install the Sepolia Fork network:

brownie networks import network-config.yaml

3. Use the following command to run the tests:

brownie test --network sepolia-fork

eBTC TechOps Signers

The following is a list of all signers on eBTC HighSec and LowSec TechOps:

Signer	Profiles	Address
dapp-whisperer	GitHub	0xaF94D299a73c4545ff702E79D16d9fb1AB5BDAbF
saj	GitHub	0xfA5bb45895Cb3C0aE5B1583Fe068f009A48F0187
mrbasado	GitHub	0xE78e3E1668D42FfCa767e22e57d7d249e02B5F0e
jwei	GitHub	0xDA82F543613f90deA718c46D02Ca15e05e88e4aC
abdullah	GitHub	0xE2C5B2008d9cc8F8E1FDa8552f7df63Af1f747f8
adcv	Twitter	0xcC692077C65dd464cAA7e7ae614328914f8469b3
monetsupply	Twitter	0x20359b5f320Ee24FA0B1000D80DAc4aFBF49738C

Treasury Signers

The following is a list of all Treasury Council members and therefore the signers on treasuryvault.badgerdao.eth, treasuryops.badgerdao.eth, treasuryvoter.badgerdao.eth and ebtcfeerecipient.badgerdao.eth:

Signer	Profiles	Address
petrovska	GitHub	0x0a9af7FAba0d5DF7A8C881e1B9cd679ee07Af8A2
adcv	Twitter	0x2afc096981c2CFe3501bE4054160048718F6C0C8
1500$Badger	Twitter	0x66496eBB9d848C6A8F19612a6Dd10E09954532D0
gosuto	GitHub	0x6C6238309f4f36DFF9942e655A678bbd4EA3BC5d
Po	Forum	0x9c8C8bcD625Ed2903823b0b60DeaB2D70B92aFd9
juanbug	Twitter	0xB8Dcad009E533066F12e408075E10E3a30F1f15A
dapp-whisperer	GitHub	0xaF94D299a73c4545ff702E79D16d9fb1AB5BDAbF
saj	GitHub	0xD10617AE4Da733d79eF0371aa44cd7fa74C41f6B
Freddy the Filosopher	Forum	0xaFD01c6161729aa857404763c9577498327c6Aee

eBTC Governance Operations Instructions

Low Sec Governance Operations

These operations are executed by the Low Sec TechOps multisig with a Low Sec Timelock (2 day delay). Scripts interacting with the Low Sec Timelock need to be run twice (with the exact same parameters) in order to fully execute each transaction: Once to shcedule the transaction and antoher time, once the delay time has elapsed, to execute it. If the parameters don't match when running the script the second time, the script will recognize it as a new operation and new "schedule" transaction will be posted instead. You can verify the parameters used when scheduling the scheduled transaction within the Timelock Transparency Dashboard (WIP).

1. Set Staking Reward Split for CDPManager Contract

   brownie run scripts/ebtc_governance.py cdpManager_set_staking_reward_split <value>

   Example: brownie run scripts/ebtc_governance.py cdpManager_set_staking_reward_split 5000

2. Set Redemption Fee Floor for CDPManager Contract

   brownie run scripts/ebtc_governance.py cdpManager_set_redemption_fee_floor <value>

   Example: brownie run scripts/ebtc_governance.py cdpManager_set_redemption_fee_floor 100

3. Set Minute Decay Factor for CDPManager Contract

   brownie run scripts/ebtc_governance.py cdpManager_set_minute_decay_factor <value>

   Example: brownie run scripts/ebtc_governance.py cdpManager_set_minute_decay_factor 900

4. Set Minute Beta for CDPManager Contract

   brownie run scripts/ebtc_governance.py cdpManager_set_beta <value>

   Example: brownie run scripts/ebtc_governance.py cdpManager_set_beta 2000

5. Set Redemptions Paused for CDPManager Contract

   brownie run scripts/ebtc_governance.py cdpManager_set_redemptions_paused <value>

   Example: brownie run scripts/ebtc_governance.py cdpManager_set_redemptions_paused False

6. Set Grace Period for CDPManager Contract

   brownie run scripts/ebtc_governance.py cdpManager_set_grace_period <value>

   Example: brownie run scripts/ebtc_governance.py cdpManager_set_grace_period 140506

7. Set FallBack Caller for PriceFeed Contract

   brownie run scripts/ebtc_governance.py priceFeed_set_fallback_caller <address>

   Example: brownie run scripts/ebtc_governance.py priceFeed_set_fallback_caller 0xa1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1

8. Set Collateral Feed Source for PriceFeed Contract

   brownie run scripts/ebtc_governance.py priceFeed_set_collateral_feed_source <enable_dynamic_feed>

   Example: brownie run scripts/ebtc_governance.py priceFeed_set_collateral_feed_source True

9. Batch the Collateral Feed Source for PriceFeed Contract and Redemption Fee Floor for the CDPManager Contract

   brownie run scripts/ebtc_governance.py batch_collateral_feed_source_and_redemption_fee_floor <enable_dynamic_feed> <new_fee_floor>

   Example: brownie run scripts/ebtc_governance.py batch_collateral_feed_source_and_redemption_fee_floor True 100000

10. Set Fee BPS for ActivePool Contract

brownie run scripts/ebtc_governance.py activePool_set_fee_bps <value>

Example: brownie run scripts/ebtc_governance.py activePool_set_fee_bps 3000

11. Set Fee BPS for BorrowerOperations Contract

brownie run scripts/ebtc_governance.py borrowerOperations_set_fee_bps <value>

Example: brownie run scripts/ebtc_governance.py borrowerOperations_set_fee_bps 3000

12. Set Secondary Oracle for EBTCFeed Contract

brownie run scripts/ebtc_governance.py ebtcFeed_set_secondary_oracle <address>

Example: brownie run scripts/ebtc_governance.py ebtcFeed_set_secondary_oracle 0xa1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1

High Sec Governance Operations

These operations are executed by the High Sec TechOps multisig with a Low Sec Timelock (7 day delay). Scripts interacting with the High Sec Timelock need to be run twice (with the exact same parameters) in order to fully execute each transaction: Once to shcedule the transaction and antoher time, once the delay time has elapsed, to execute it. If the parameters don't match when running the script the second time, the script will recognize it as a new operation and new "schedule" transaction will be posted instead. You can verify the parameters used when scheduling the scheduled transaction within the Timelock Transparency Dashboard (WIP).

1. Set Role Name for Authority Contract

   brownie run scripts/ebtc_governance.py authority_set_role_name <role> <name>

   Example: brownie run scripts/ebtc_governance.py authority_set_role_name 1 "example role"

2. Set User Role for Authority Contract

   brownie run scripts/ebtc_governance.py authority_set_user_role <user> <role> <enabled>

   Example: brownie run scripts/ebtc_governance.py authority_set_user_role 0xa1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1 1 True

3. Set Role Capability for Authority Contract

   brownie run scripts/ebtc_governance.py authority_set_role_capability <role> <target_address> <signature> <enabled>

   Example: brownie run scripts/ebtc_governance.py authority_set_role_capability 1 0xa1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1 0x12345678

4. Set Public Capability for Authority Contract

   brownie run scripts/ebtc_governance.py authority_set_public_capability <target_address> <signature> <enabled>

   Example: brownie run scripts/ebtc_governance.py authority_set_public_capability 0xa1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1 0x12345678 False

5. Burn Capability for Authority Contract

   brownie run scripts/ebtc_governance.py authority_burn_capability <target_address> <signature>

   Example: brownie run scripts/ebtc_governance.py authority_burn_capability 0xa1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1 0x12345678

6. Set Authority for Authority Contract

   brownie run scripts/ebtc_governance.py authority_set_authority <address>

   Example: brownie run scripts/ebtc_governance.py authority_set_authority 0xa1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1

7. Set Primary Oracle for EBTCFeed Contract

   brownie run scripts/ebtc_governance.py ebtcFeed_set_primary_oracle <address>

   Example: brownie run scripts/ebtc_governance.py ebtcFeed_set_primary_oracle 0xa1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1a1

Timelock Salt

All Timelock scripts accept an optional salt at the end of their parameter list, a unique integer identifier that allows for the distinction of transactions. This is especially useful for queuing transactions that are identical in contract, changes, and values to previous ones. To ensure the correct execution of a scheduled transaction that includes a salt, this same salt must be repeated during the execution phase. Note that these scripts convert the salt integers into 32 byte strings, as this is the format expected by the Timelock contracts.

Example: brownie run scripts/ebtc_governance.py borrowerOperations_set_fee_bps 3000 1

EMERGENCY: Pausing Operations

Operations within the EMERGENCY section are meant to be executed directly without the timelock process.

1. Pause or Unpause Redemptions for CDPManager Contract from TechOps Multisig

   brownie run scripts/ebtc_governance.py cdpManager_set_redemptions_paused_techops <pause>

   Example: brownie run scripts/ebtc_governance.py cdpManager_set_redemptions_paused_techops True

2. Pause or Unpause Redemptions for CDPManager Contract from Security Multisig

   brownie run scripts/ebtc_governance.py cdpManager_set_redemptions_paused_security <pause>

   Example: brownie run scripts/ebtc_governance.py cdpManager_set_redemptions_paused_security True

3. Pause or Unpause Flash Loans for ActivePool Contract from TechOps Multisig

   brownie run scripts/ebtc_governance.py activePool_set_flash_loans_paused_techops <pause>

   Example: brownie run scripts/ebtc_governance.py activePool_set_flash_loans_paused_techops True

4. Pause or Unpause Flash Loans for ActivePool Contract from Security Multisig

   brownie run scripts/ebtc_governance.py activePool_set_flash_loans_paused_security <pause>

   Example: brownie run scripts/ebtc_governance.py activePool_set_flash_loans_paused_security True

5. Pause or Unpause Flash Loans for BorrowerOperations Contract from TechOps Multisig

   brownie run scripts/ebtc_governance.py borrowerOperations_set_flash_loans_paused_techops <pause>

   Example: brownie run scripts/ebtc_governance.py borrowerOperations_set_flash_loans_paused_techops True

6. Pause or Unpause Flash Loans for BorrowerOperations Contract from Security Multisig

   brownie run scripts/ebtc_governance.py borrowerOperations_set_flash_loans_paused_security <pause>

   Example: brownie run scripts/ebtc_governance.py borrowerOperations_set_flash_loans_paused_security True

7. Pause or Unpause Flash Loans for BorrowerOperations and ActivePool Contract from TechOps Multisig

   brownie run scripts/ebtc_governance.py pause_flashloans_techops <pause>

   Example: brownie run scripts/ebtc_governance.py pause_flashloans_techops True

8. Pause or Unpause Flash Loans for BorrowerOperations and ActivePool Contract from Security Multisig

   brownie run scripts/ebtc_governance.py pause_flashloans_security <pause>

   Example: brownie run scripts/ebtc_governance.py pause_flashloans_security True

Please note that the specific <value>, <role>, <address>, <target_address>, <signature>, <name>, and <pause> should be replaced with the actual parameters you wish to use for each operation. The examples provided are meant to give you an idea of how to structure your commands for the CLI.

In addition, it must also be noted that only delegated accounts with posting access to the multisigs in matter will be able to post these transactions. Delegation can be granted to any EOA from one of the signers via the following tool. Remember that posting the transactions is not enough, it must also be executed via its respective multisig for it to be loaded into the Timelock.

eBTC Governance Parameters Cheatsheet

The section below provides a concise overview and a table detailing the adjustable numerical parameters within the eBTC system. This guide aims to facilitate the execution and review of changes. The table includes essential information such as the parameter name, its base value, both the upper and lower bounds that define the limits within which these parameters can be adjusted and an example for each. Additional notes are provided to give context or specific details relevant to each parameter.

Parameter	Base (conversion from decimal)	Upper Bound	Lower Bound	Example	Notes
Staking Reward Split	10_000	10_000 (100%)	0	5_000 (50%)	Protocol Yield Share: Percentage of collateral's yield taken as fee
Redemption Fee Floor	1e18	1e18 (100%)	5e15 (0.5%)	1e16 (1%)	Determines the minimum redemption fee possible
Minute Decay Factor (Delta)	1	999999999999999999	1	999037758833783000 (720 min)	12 hr (720 min) halflife -> d = (1/2)^(1/720)
Beta	1	-	- (⚠️ NOT ZERO)	2 (Initial)	Corresponds to 1 / ALPHA, determines the fee increase steepness
Grace Period	1	-	900	1200 (20 minutes)	Length of recovery mode's Grace Period's duration
Active Pool FL Fee	10_000	1_000 (10%)	0	3 (0.03%)	Determines the fee charged on a Flashloan
Borrower Operations FL Fee	10_000	1_000 (10%)	0	3 (0.03%)	Determines the fee charged on a Flashloan

This cheat sheet serves as a handy reference for anyone involved in the governance of eBTC, from developers and contributors to users interested in understanding the parameters that shape the protocol's functionality and security.

eBTC Treasury Operations Instructions

Scope of the operations are: CDP, LPs and incentives management.

CDP management

1. Open a CDP given an amount of collateral and target collateral ratio

      brownie run scripts/ebtc_cdp_ops.py open_cdp <collateral_amount> <target_collateral_ratio>

   Example: brownie run scripts/ebtc_cdp_ops.py open_cdp 5 160

2. Close target CDP id

      brownie run scripts/ebtc_cdp_ops.py close_cdp <cdp_id>

   Example: brownie run scripts/ebtc_cdp_ops.py close_cdp 0x68682e8857d24a5bb71fcd5c6dc5867731226b620125dde40000000000000001

3. Increase collateral for an existing CPD id

      brownie run scripts/ebtc_cdp_ops.py cdp_add_collateral <cdp_id> <collateral_amount>

   Example: brownie run scripts/ebtc_cdp_ops.py cdp_add_collateral 0x68682e8857d24a5bb71fcd5c6dc5867731226b620125dde40000000000000001 50

4. Reduce collateral from an existing CDP id

      brownie run scripts/ebtc_cdp_ops.py cdp_withdraw_collateral <cdp_id> <collateral_amount>

   Example: brownie run scripts/ebtc_cdp_ops.py cdp_withdraw_collateral 0x68682e8857d24a5bb71fcd5c6dc5867731226b620125dde40000000000000001 20

5. Repay a specific amount of debt for target CDP id

      brownie run scripts/ebtc_cdp_ops.py cdp_repay_debt <cdp_id> <debt_repay_amount>

   Example: brownie run scripts/ebtc_cdp_ops.py cdp_repay_debt 0x68682e8857d24a5bb71fcd5c6dc5867731226b620125dde40000000000000001 3

6. Borrow further debt from target CDP id

      brownie run scripts/ebtc_cdp_ops.py cdp_withdraw_debt <cdp_id> <debt_withdrawable_amount>

   Example: brownie run scripts/ebtc_cdp_ops.py cdp_withdraw_debt 0x68682e8857d24a5bb71fcd5c6dc5867731226b620125dde40000000000000001 2

LPs management

1. Creates pool for eBTC/WBTC following BIP guideline

   brownie run scripts/univ3_management.py pool_creation_and_init_seeding

TBD (pendant of further discussion)

Incentives management

TBD (pendant of PR#20 getting merged)