I’ve been putting together some design ideas for a REN Darknode Pool, similar to a Yearn VAULT and managed via a DAO. Trying to make this as much trustless, non-custodial as possible
Below are some of my thoughts on how to make this happen. Please feel free to comments, suggest ideas and mark areas of concern.
- Owns the Operator Wallet with all the darknodes / REN
- Multisig has 3-5 community members & 2-3 operators/dev
- Operators/dev manage daily operations, pay for node costs, improvements etc.
Snapshot.page (or Aragon) to manage decisions (DAO)
- Increasing / decreasing fees
- Changing paramaters
- Changing Multisig people
- Governance of REN DAO (when available)
- First Node/Operation starts with min 130000 REN: 100000 for Node, 1000 for ETH Gas, 29000 allows for people that want to exit.
- For each extra node 110000 is needed: 100000 for Node, 1000 for ETH Gas, 9000 allows for people that want to exit.
- Monthly Fees: 10% node rewards (8% back to the operators to pay for HW & general operation & 2% to a SAFU fund managed by the multisig)
LP Smart Contract
- Multisig is owner of the LP contract
- Contract has function for people to provide / lockup liquidity, (returns a token representing their proportion that can be traded MAYBE)
- Contract has function to claim rewards (monthly) proportional to the liquidity provided
- Contract has functions to withdraw money to the multisig to setup new nodes
- Contract has functions to receive money from the multisig when a node is disbanned
- If no spare REN in Contract, withdrawals have a 2 month delay in case we need to stop a node (MAKE THIS CLEAR IN THE T&C)