Governance Decisions
The Bridge Governance Board is responsible for enacting updates related to bridge functionality, contract upgrades, and other parameters impacting bridge operations. The following items have been implemented by the board.
Unlock 5.4k EURe due to a Bridge App bugβ
π³ Justification:
Due to a bug in the new Bridge App (calling transfer
instead of relayTokens
), which in the meantime has been fixed, 5.4k EURe were accidentally locked in the bridge.
The proposal will mint 5.4k Omnibridge EURe (not canonical EURe) on Ethereum (based on the 5.4k canonical EURe that were locked on Gnosis chain side), so that the user can send it back to Omnibridge and unlock their EURe on Gnosis Chain.
β Implemented: Apr 22, 2023
Onboarding EURC.e to Gnosis Chain, reset default dailyLimit and executionDailyLimit, remove fees for existing tokens, replace Telepathy validator addressβ
π³ Justification:
- To comply with Circleβs bridged token standard, we have deployed Bridged EURC on the Gnosis Chain. Unlike the typical bridged token from Omnibridge, Bridged EURC on Gnosis Chain uses the latest version of the FiatToken standard, v2.2. Therefore, registering Bridged EURC on Gnosis Chainβs Omnibridge and setting default values for dailyLimit and executionDailyLimit are necessary to meet the token bridge limit requirements. Setting default dailyLimit and executionDailyLimit will not affect the current bridged token, but only newly bridged token, and it can be reset for individual tokens by calling setDailyLimit and setExecutionDailyLimit through governance process.
- Bridged EURC on Gnosis Chain (EURC.e): 0x54E4cB2a4Fa0ee46E3d9A98D13Bea119666E09f6
- new default dailyLimit: 10000000000000000000000000000000000010
- new default executionDailyLimit: 10000000000000000000000000000000000010
- Removing the fee of the following tokens as well as setting default fee to 0, meaning all the future newly bridged token from Omnibridge will be zero fee. BAL, PNK, CRV, CRVUSD, LINK, HOPR, COW, DXD, WSTETH
- Increasing the daily and transactions limits for: WETH, WBTC, GNO, USDC, USDT, HOPR
- Replacing Telepathy validator address with a new one.
β Implemented: Mar 13, 2023
Increase required block confirmation for AMB to 130 blocks, remove Autonolas LP token feeβ
π³ Justification: To increase the participation of the Telepathy light client on the AMB, we increase the required block confirmations from 100 blocks (~20 mins) to 130 blocks (~26 mins). This will ensure that the majority of the txs can be signed by Telepathy. End users should expect 6 more minutes delay. Besides, as requested from Autonolas team, we remove the Autonolas LP token fee on ETHβGC Omnibridge, from previously 0.01% to 0.
β Implemented: Dec 18, 2023
Remove OLAS token fee from ETH-GC Omnibridgeβ
π³ Justification: As requested from Autonolas team, we removed OLAS token fee on ETHβGC Omnibridge, from previously 0.01% to 0.
OLAS on Ethereum: https://etherscan.io/address/0x0001a500a6b18995b03f44bb040a5ffc28e45cb0
Bridged OLAS token on Gnosis: https://gnosisscan.io/address/0xce11e14225575945b8e6dc0d4f2dd4c570f79d9f
β Implemented: Nov 9, 2023
Savings xDAI launch - Initiate sDAI interest bridging and increase xDAI bridge limits.β
π³ Justification: This is a follow-up on the previous proposal. After the successful upgrade of the xDAI bridge to deploy reserves on the sDAI vault, we launched the Savings xDAI vault on Gnosis chain which will distribute the interest earned on mainnet to holders of the sDAI token on Gnosis chain. We set interest receiver to the interest receiver contract on Gnosis Chain.
We increased the limits for incoming xDAI transactions to Gnosis chain as we are anticipating higher volumes due this launch. Previous value: 10 million. New value: 15 million.
β Implemented: Oct 5, 2023
Upgrade xDAI bridge to support investing in sDAI vault.β
π³ Justification: We upgrade xDAI bridge to new implementation version in order to support investing DAI from the bridge contract into sDAI vault from Spark Protocol. This upgrade only implements changes on Ethereum, and the next phase will be on Gnosis Chain. The implementation contract is audited by Omega and ChainSafe. For more details, please refer to docs
We call the method upgradeTo()
on the xDAI bridge proxy contract (0x4aa42145aa6ebf72e164c9bbc74fbd3788045016) with parameters: version 8 and impl. 0x166124b75c798cedf1b43655e9b5284ebd5203db.
We call the initializeInterest()
with the following parameters.
- DAI: 0x6b175474e89094c44da98b954eedeac495271d0f
- minCashThreshold: 1000000000000000000000000 (1,000,000 DAI)
- minInterestPaid: 1000000000000000000000 (1,000 DAI)
- interestReceiver: 0x0000000000000000000000000000000000000000
We also call investDAI()
to invest the DAI into MakerDSR. 25m DAI have been deposited into sDAI vault earning interest.
refillBridge() will be called periodically (once per day at the moment) by the Karpatkey team to ensure that there is enough DAI for withdrawal on Ethereum.
β Implemented: Sept 20, 2023
Add Telepathy Validator in the AMBβ
π³ Justification: Adding the Telepathy validator in the AMB as the 8th validator.
Telepathy is a light client based validator developed by SuccinctLabs. Main goal is to increase security of the bridge by adding a validator that is not based on trusted off-chain agents but on verifying the transactions based on the Ethereum consensus layer.
We are also increasing the minimum required block confirmations to 100 blocks so that the Telepathy validator has enough time to participate in the transaction affirmation process.
This initiative is part of this proposal that started a year ago:
https://forum.gnosis.io/t/gip-57-should-gnosis-dao-support-research-of-a-zksnark-enabled-light-client-and-bridge/5421
More details on the design: https://hackmd.io/@wdyZgTm3RrOsm-rhXDXEHA/BJ_7ExKgn
β Implemented: Jul 3, 2023
Remove two governor wallets, add three new governor wallets and remove HAUS token fee.β
π³ Justification: We removed two inactive governor wallets from ex-xDAI team and add three new governor wallets: Succinct Labs, Agave, Gnosis Bridge team. Additionally, we increased governance Safe walletβs threshold from 7 to 8, resulting in 8-of-16 requirement to pass a proposal, strengthening the resilience of the bridge governance. Besides, as requested from DAOHAUS team, we removed HAUS token fee, making it a complete fee-less operation to bridge HAUS token between ETH and Gnosis Chain.
β Implemented: Jun 12, 2023
Upgrade BNB-GC Omnibridge mediator to stop accepting any new token locks and mintsβ
π³ Justification: As part of the longer term plan to decommission the BNB-GC Omnibridge (more info https://forum.gnosis.io/t/bridge-to-binance-update/6624), we want to stop any new token locks and mints from either BNB chain or Gnosis Chain.
β Implemented: April 4, 2023
Safe contract updates, two new governor wallets and Gateway validator addition.β
π³ Justification: We executed a regular/routine update for all Safe contracts. Additionally, we added one more validator (7 in total), strengthening even further the resilience of the bridges. Finally, we replaced two recently inactive wallets with new participants that will participate in the governance more actively.
β Implemented: March 20, 2023
Adjust limits on ETH-GC OmniBridge for WETH, WBTC, GNO, CLNY, DXD, HOPR, HAUSβ
π³ Justification: For risk management purposes, the daily limits for transactions from Gnosis Chain to Ethereum where raised for major assets and were adjusted to reasonable values for some smaller assets.
β Implemented: February 23, 2023
Add Karpatkey and remove Syncnode from the set of validators of AMB & xDAI Bridgesβ
π³ Justification: Syncnode team requested to be removed from the validator set. In the same time addition of Karpatkey validator creates additional reliability and decentralization of validators set.
β Implemented: December 4, 2022
Remove Funds from lending protocols AAVE and Compound and disable Interest Function on Omni Bridge and xDAI Bridgeβ
π³ Justification: reduce risk and exposure during the uncertainty that came with the merge. After the merge, a new strategy must be developed in order to define how to approach this type of investment considering the implications related to transparency to the users and the risk involved.
β Implemented: September 14, 2022
Remove Former xDai Team Validators from AMB & xDAI Bridgesβ
π³ Justification: xDai validators were important at the early stages of the project to ensure operational execution and bridge functionality. Now, with increased community involvement and ecosystem maturity, the next step is to further decentralize processes and remove the former xDai team.
β Implemented: June 14, 2022
Disable Deposit Function in StakingAura POSDAO contractβ
π³ Justification: Staking is deprecated in POSDAO. Current validators will continue until the Gnosis Chain <-> Gnosis Beacon Chain merge but no new deposits are allowed.
β Implemented: June 14, 2022
Swap Governance Account Addressβ
π³ Justification: Account for the former xDai team needs to be updated in the Governance Gnosis Safe.
β Implemented: June 03, 2022
Decrease Withdrawal Fee on OmniBridge for CommonGroundβ
π³ Justification: The Common Ground token withdrawal fees should be set to 0 when bridging from Gnosis Chain to Ethereum to help promote adoption.
β Implemented: May 30, 2022
Remove Validator from the AMB Validator Setβ
π³ Justification: This odd-numbered validator run by the xDai team is redundant and should be removed from the set.
β Implemented: May 24, 2022
Increase Limits for xDAI, USDC and USDTβ
π³ Justification: Due to market conditions, stablecoin bridge limits should be temporarily raised to ensure leveraged positions are not liquidated due to inability to bridge.
β Implemented: May 12, 2022
Increase Default Daily Limits of AMB Bridgeβ
π³ Justification: To support projects looking to move large amount of tokens from Ethereum to Gnosis Chain, increase the limits from 10^9 to 10^18 to enable transfer in a single tx.
β Implemented: May 11, 2022
Update Bridge Fee Receiver to GnosisDAOβ
π³ Justification: Bridge responsibility is migrating to GnosisDAO, and fees should be sent to a GnosisDAO owned safe.
- Added new fee recipient
- Removed existing recipient
β Implemented in batch: May 03, 2022