There are two special roles in each
DODO Pair smart contract:
Here I would like to introduce the scope of power of
supervisor, and the principles of design behind.
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.
Power of the supervisor is a subset of that of
admin, and both
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
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.