- This is the smart contract that incentivize voters (of compound) by using the proof of voting NFTs.
- Once a token holder (of COMP) execute voting, that token holder receive a NFT as a proof of voting.
- As a incentive to keep engaging in voting, token holders who has voting NFTs can receive rewards regularly.
- This smart contract try to solve current disadvantage of on-chain voting that:
- Token holders (of COMP) need to pay GasFee⛽️ for every voting. (In case token holders vote by themself)
- Small share holders (of COMP) has less voting power than large share holders.
↓- By distributing rewards via this smart contract like above, all token holders (of COMP) can get benefit to engage in voting even if they are small share holders (of COMP).
- This smart contracts include the customized-smart contracts of the
GovernorAlpha.solof Compound.- e.g). The
GovernorAlphaWithProofOfVotingNFT.solinherit theGovernorAlpha.sol of Compound.
https://github.com/masaun/governorAlpha-with-proof-of-voting-NFT/blob/main/contracts/GovernorAlphaWithProofOfVotingNFT.sol
- e.g). The
- Workflow
- ① Create a proposal (from voters to the GovernorAlphaWithProofOfVotingNFT contract).
- ② Create a proposal (from the GovernorAlphaWithProofOfVotingNFT contract to the GovernorAlpha contract).
=> Workflow of ① and ② above are execute via the GovernorAlphaWithProofOfVotingNFT contract in a single transaction. - ③ Cast a vote (from voters to the GovernorAlphaWithProofOfVotingNFT contract).
- ④ Cast a vote (from the GovernorAlphaWithProofOfVotingNFT contract to the GovernorAlpha contract).
=> Workflow of ③ and ④ above are execute via the GovernorAlphaWithProofOfVotingNFT contract in a single transaction. - ⑤ Create a new
proof of voting NFT. - ⑥ Mint a proof of voting NFT.
- ⑦ Transfer a proof of voting NFT to voter who is voted.
- ⑧ Distribute reward tokens (COMP)
based on number of a proof of voting NFTs.-
On the assumption that, 1 proof of voting NFT is given to voter per 1 vote .
-
On the assumption that, default
reward distribution amountis0.01COMP. https://github.com/masaun/governorAlpha-with-proof-of-voting-NFT/blob/main/contracts/RewardsVault.sol#L20 (※ the reward distribution amount can be changed by usingchangeDistributionAmountmethod in the RewardsVault.sol: https://github.com/masaun/governorAlpha-with-proof-of-voting-NFT/blob/main/contracts/RewardsVault.sol#L30-L32 ) -
e.g). If some voter vote 2 different proposal, that voter receive 2 proof of voting NFTs.
=> In case of that, that voter receive0.02 COMP (=0.01 * 2 NFTs)regulary. -
Remarks).
- At the moment, the
manualdistribution method has been implemented already. ( https://github.com/masaun/governorAlpha-with-proof-of-voting-NFT/blob/main/contracts/RewardsVault.sol#L44-L52 ) - But, the
requlardistribution method has not been implemented yet.
- At the moment, the
-
- Diagram of workflow:
- Versions:
- Solidity (Solc): v0.5.16
- Hardhat: v2.6.1
- ether.js: v5.4.6
- web3.js: v1.5.2
- @openzeppelin/contracts: v2.5.1
- Install npm modules in the root directory
npm install
npm run compile
- Scenario test
npm run test:Scenario.test.js
- Demo video of unit test
https://youtu.be/pr0gk1njwHk
- [Compound.finance]
- compound-protocol/contracts/Governance: https://github.com/compound-finance/compound-protocol/tree/master/contracts/Governance
- compound-protocol/tests/Governance: https://github.com/compound-finance/compound-protocol/tree/master/tests/Governance
- [Tally]
- Tutorial-Deploy-Governance: https://github.com/withtally/Tutorial-Deploy-Governance
- [Prize]:
- Most Innovative Use Of Compound's Governance Contracts
https://gitcoin.co/issue/compoundgrants/hackathon/1/100026405
- Most Innovative Use Of Compound's Governance Contracts