Links
🗳

Angle DAO

The Decentralized Autonomous Organization driving Angle Protocol

🔎 TL;DR

  • Angle DAO is responsible for tuning and improving the protocol in order to make it sustainable and robust enough to become a building block of the DeFi space.
  • The Angle DAO is controlled by veANGLE holders through Snapshot votes executed by a multi-sig composed of community members.
  • The Angle DAO is also responsible for deciding where to allocate the ANGLE tokens distributed as part of the liquidity mining program.

🔘 Responsibilities

The Angle DAO is responsible for parameters tuning, deploying new stablecoins, accepting new collateral types for a given stablecoin, for treasury management and for protocol upgrades and integrations.
In particular, it can make the following changes:
  • Tune fee parameters for, among other things, in the Core module: users minting and burning, Hedging Agents opening and closing their perpetuals, slippage of Standard Liquidity Providers, ... In the Borrowing module, the DAO can change the collateral factors or the borrowing interest rates
  • Grant/revoke roles
  • Deploy new stablecoins
  • Deploy/revoke new strategies to get yield in the Core Module and choose in which proportions to distribute this yield to SLPs
  • Deploy/revoke collateral types
  • Upgrade oracles and other contracts throughout the system
  • Deploy the surplus of the protocol
  • Launch new Direct deposit modules (also referred to as Algorithmic Market Operations)

🗣 Discussions and debates

Governance proposals and improvements are first discussed on our Discord, where there is a dedicated improvement-proposals section.
More formal proposals (which are closer to being implemented) are then discussed in our governance forum at gov.angle.money

🗳 Voting

General proposals

After proposals have been properly discussed, they can be voted on through a Snapshot vote.
Since a tokenomics upgrade conducted in January 2022, veANGLE holders are the ones with voting power over the protocol. As such, they are the ones voting to approve and implement or dismiss a proposal concerning the Angle Protocol. If they don't want to participate in Snapshot all votes, they have the opportunity to delegate their voting power to other addresses.
Finalized votes are then implemented by a multi-sig composed of community members. The fact that a multisig needs to implement transaction makes Angle governance system immune to on-chain governance attacks.
Angle Protocol is available on different EVM compatible chains. There is one multisig per chain, each with the same signers detailed below. The addresses of the multisigs on all the different networks supported by Angle can be found here.
A signature from the multi-sig is required to enforce the outcomes of the Snapshot votes. In almost all cases, it will vote in-line with what is voted by veANGLE holders. However, proposals considered to be clear open attacks against the protocol will not be signed for. Having a multisig enforcing proposals is hence tantamount to having a Timelock contract for the protocol that can prevent the enforcement of malicious governance proposals.

Governance Multi-Sig Signers

On each of the chain on which Angle protocol is deployed, the protocol's multisig is composed of the same 6 people (three Angle Labs team members and three "public" crypto people). It requires a minimum of 4 signatures to execute a transaction. The multi-sig signers are:

Voting on rewards distribution

Last, veANGLE holders of the DAO are responsible for deciding where the liquidity mining rewards get distributed. Voting on this happens on-chain and can be done through the gauge page of the app. Users can allocate weights to the different pools they want rewards to be distributed to.
More info on the details of this process in the Gauges page.