Indexed

Approved Snapshot Vote: https://snapshot.page/#/ndx.eth/proposal/QmYzjH27kBiCVHs7vYzQg4nbXiJWyvmN5fbrxANsnTnEZ3

Discussion Thread: https://forum.indexed.finance/t/iip-3-enable-meta-governance-for-comp-like-tokens/56

Summary

This proposal enables NDX holders to vote with the COMP & UNI held by any index pool. Support for other governance tokens that support delegation will follow as the contracts are developed.

Meta Governance Contracts

We will utilize two new “meta governance” contracts. These are contracts modeled on GovernorAlpha, the governance contract used by NDX, COMP, UNI and several other projects, which allow NDX holders to vote on “meta proposals” which are proposals for how the delegated votes should be cast on external proposals for Uniswap or Compound governance.

We will use one contract for each governance token - MetaGovernorCOMP and MetaGovernorUNI, which use the same template.

Code: https://github.com/indexed-finance/governance/tree/master/contracts/meta

Audit: https://github.com/indexed-finance/governance/blob/master/audits/Meta Governance Audit by Daniel Luca.pdf

MetaGovernorCOMP: 0xeEB40d10cb86f569BB978A81a4eA178a9E1dfDdf

MetaGovernorUNI: 0x1aa7c2a1E6E0c4981D77b96aB985b161bb7729b9

Proxy Updates

In order to support delegation of COMP-like tokens, the proxy implementations for MarketCapSqrtController and IndexPool must be updated to allow governance to tell the index pools to delegate their voting power to the meta governor contracts.

The contracts have been updated on github with the modifications described below.

MarketCapSqrtController

Add delegateCompLikeTokenFromPool which is only callable by the NDX timelock. This function takes the address of an index pool, the address of the token to delegate, and the address of the delegatee, and calls delegateCompLikeToken on the index pool.

https://github.com/indexed-finance/indexed-core/pull/65/commits/06ab7cb677e5b3780e435c58475d9cbb1ec1ebdc

New Implementation: 0x8542E1ddE76E7725DF3ff3C7829DC07229998333

IndexPool

Add delegateCompLikeToken which is only callable by the controller. This function takes the address of the token to delegate and the address of the meta governor to delegate to, then calls the delegate function on the token to delegate to the governor.

https://github.com/indexed-finance/indexed-core/pull/65/commits/dae7f231d0f58bfc0993f6c01199cd6b74b01895

New Implementation: 0x2483C55E414447CC78b0Bfac77C1471D81BAAbdf

Actions

1. Update proxy implementation for MarketCapSqrtController
2. Update proxy implementation for IndexPool
3. Delegate UNI in CC10 to MetaGovernorUNI
4. Delegate UNI in DEFI5 to MetaGovernorUNI
5. Delegate COMP in CC10 to MetaGovernorCOMP
6. Delegate COMP in DEFI5 to MetaGovernorCOMP