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https://github.com/masaun/governoralpha-with-proof-of-voting-nft
This is the smart contract that incentivize voters (of compound) by using the proof of voting NFTs.
https://github.com/masaun/governoralpha-with-proof-of-voting-nft
compound-finance ethereum etherjs governance hardhat solidity web3js
Last synced: 9 days ago
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This is the smart contract that incentivize voters (of compound) by using the proof of voting NFTs.
- Host: GitHub
- URL: https://github.com/masaun/governoralpha-with-proof-of-voting-nft
- Owner: masaun
- Created: 2021-08-30T06:02:02.000Z (about 3 years ago)
- Default Branch: main
- Last Pushed: 2021-09-08T00:30:34.000Z (about 3 years ago)
- Last Synced: 2024-10-08T05:15:50.158Z (about 1 month ago)
- Topics: compound-finance, ethereum, etherjs, governance, hardhat, solidity, web3js
- Language: Solidity
- Homepage:
- Size: 1.18 MB
- Stars: 11
- Watchers: 3
- Forks: 5
- Open Issues: 0
-
Metadata Files:
- Readme: README.md
Awesome Lists containing this project
README
# 【GovernorAlpha with Proof of Voting NFT】
## 【Introduction of the GovernorAlpha with Proof of Voting NFT】
- 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.sol` of Compound.
- e.g). The `GovernorAlphaWithProofOfVotingNFT.sol` inherit the `GovernorAlpha.sol of Compound` .
https://github.com/masaun/governorAlpha-with-proof-of-voting-NFT/blob/main/contracts/GovernorAlphaWithProofOfVotingNFT.sol
***
## 【Workflow】
- 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 amount` is `0.01` COMP.
https://github.com/masaun/governorAlpha-with-proof-of-voting-NFT/blob/main/contracts/RewardsVault.sol#L20
(※ the reward distribution amount can be changed by using `changeDistributionAmount` method 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 receive `0.02 COMP (=0.01 * 2 NFTs)` regulary.
- Remarks).
- At the moment, the `manual` distribution method has been implemented already. ( https://github.com/masaun/governorAlpha-with-proof-of-voting-NFT/blob/main/contracts/RewardsVault.sol#L44-L52 )
- But, the `reqular` distribution method has not been implemented yet.
- Diagram of workflow:
***
## 【Remarks】
- 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
***
## 【Setup】
### ① Install modules
- Install npm modules in the root directory
```
npm install
```
### ② Compile contracts
```
npm run compile
```
***
## 【Unit test】
- Scenario test
```
npm run test:Scenario.test.js
```
***
## 【Demo】
- Demo video of unit test
https://youtu.be/pr0gk1njwHk
***
## 【References】
- [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