SIP-175: Protocol Maintenance Funding

Simple Summary

Divert a portion of the weekly SNX inflation to pay for protocol upgrades and maintenance.

Abstract

The protocolDAO needs funds to pay for regular protocol upgrades and keeper functionality. This SIP proposes to divert 1,000 SNX weekly to the protocolDAO which can then convert it to Ether (approximately 3.5 ETH p/w at time of writing) to pay for maintenance.

Motivation

The sDAO has been paying for upgrades and maintenance since inception of the protocol. Once the Synthetix treasury moves to the Treasury Council (SIP-155), having to request funds constantly for protocol maintenance through the Council will become more onerous.

The main need is for Ether to deploy and connect new iterations of the protocol on both L1 and L2. A secondary need is to maintain the current DebtCache keepers on both layers. The latter is too complex to be run by the Chainlink Keeper network (currently operating on the fee pool closing keeper) and is already marked as deprecated with SIP-156. As such, a future SCCP will be planned to reduce this weekly amount, once the DebtCache keeper has been eliminated.

Specification

Overview

As with other inflation diversion, this SIP requires an entry in RewardsDistribution for the protocolDAO to receive 1,000 each week of inflation.

Rationale

N/A

Technical Specification

N/A

Test Cases

N/A

Configurable Values (Via SCCP)

N/A

Copyright

Copyright and related rights waived via CC0.