Authority

There are two special roles in each DODO Pair smart contract: admin and supervisor.

Here I would like to introduce the scope of power of admin and supervisor, and the principles of design behind.

note

You may be very concerned about who is the admin and the supervisor, and will they abuse the power. Please don't worry, in the next section, we will introduce the decentralized governance process in detail.

Scope

Power of the supervisor is a subset of that of admin, and both supervisor and admin have A-level authority. Level A permissions include:

  • Disable trade
  • Disable deposit
  • Set gas price limit

admin is the only one with B-level authority, which includes:

  • Change admin
  • Change supervisor
  • Change maintainer
  • Change oracle
  • Set liquidity provider fee rate
  • Set maintainer fee rate
  • Set K
  • Enable trade
  • Enable deposit
  • Final settlement

Principle

Level-A authority can be summarized as "freeze status" i.e. some functions of the system can be stopped urgently, but the status cannot be changed. In order to limit the power of admin, often actions taken by admin have to go through a complex governance process. To be risk resistant, we need a more flexible supervisor instead of an admin to take some actions that are not so sensitive but can significantly reduce system risks.

The B-level authority basically covers all aspects of the DODO Pair contract. The reason why so many parameters are designed to be variable is to better adapt to the rapidly changing market environment. It also leaves room for governance in the future.

It is worth pointing out that no one can prohibit users from withdrawing coins. Being non-custodial is the most important principle of Defi.