Maker Governance - Proposal Base Network SkyLink Bridge Initialization for USDS and sUSDS, Star Allocation System Initialization for Spark, Add New Validators to Medianizer

Base Network SkyLink Bridge Initialization for USDS and sUSDS, Star Allocation System Initialization for Spark, Add New Validators to Medianizer - October 31, 2024

Spell Address

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MKR Support

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Supporters

The Governance Facilitators, Dewiz, and Sidestream have placed an executive proposal into the voting system. MKR/SKY Holders should vote for this proposal if they support the following alterations to the Sky Protocol.

If you are new to voting in the Sky Protocol, please see the voting guide to learn how voting works.

Executive Summary

If this executive proposal passes, the following actions will occur within the Sky Protocol:

The Base Network SkyLink bridge for USDS and sUSDS will be initialized.
The Star Allocation System for Spark will be initialized
New validators for Medianizer will be added.

Voting for this executive proposal will place your MKR/SKY in support of the actions outlined above.

Unless otherwise noted, the actions listed above are subject to the GSM Pause Delay. This means that if this executive proposal passes, the changes and additions listed above will only become active in the Sky Protocol after the GSM Pause Delay has expired. The GSM Pause Delay is currently set to 16 hours.

If this executive proposal does not pass within 30 days, then it will expire and can no longer have any effect on the Sky Protocol.

Proposal Details

Base Network SkyLink Bridge Initialization for USDS and sUSDS

Authorization: Ecosystem Approval
Proposal: Forum Post

If this executive proposal passes, then the Base Network SkyLink bridge for USDS and sUSDS will be initialized by calling TokenBridgeInit.initBridges with its parameters set as follows:

l1BridgeInstance:
- govRelay: 0x1Ee0AE8A993F2f5abDB51EAF4AC2876202b65c3b
- escrow: 0x7F311a4D48377030bD810395f4CCfC03bdbe9Ef3
- bridge: 0xA5874756416Fa632257eEA380CAbd2E87cED352A
- bridgeImp: 0xaeFd31c2e593Dc971f9Cb42cBbD5d4AD7F1970b6
l2BridgeInstance:
- govRelay: 0xdD0BCc201C9E47c6F6eE68E4dB05b652Bb6aC255
- bridge: 0xee44cdb68D618d58F75d9fe0818B640BD7B8A7B7
- bridgeImp: 0x289A37BE5D6CCeF7A8f2b90535B3BB6bD3905f72
- spell: 0x6f29C3A29A3F056A71FB0714551C8D3547268D62
cfg:
- l1Messenger: 0x866E82a600A1414e583f7F13623F1aC5d58b0Afa
- l2Messenger: 0x4200000000000000000000000000000000000007
- l1Tokens:
  - 0xdc035d45d973e3ec169d2276ddab16f1e407384f (USDS on Mainnet)
  - 0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD (sUSDS on Mainnet)
- l2Tokens:
  - 0x820C137fa70C8691f0e44Dc420a5e53c168921Dc (USDS on Base)
  - 0x5875eEE11Cf8398102FdAd704C9E96607675467a (sUSDS on Base)
- maxWithdraws: type(uint256).max for each token
- minGasLimit: 500,000
- govRelayCLKey: BASE_GOV_RELAY (chainlog key for govRelay)
- escrowCLKey: BASE_ESCROW (chainlog key for Escrow)
- l1BridgeCLKey: BASE_TOKEN_BRIDGE (chainlog key for L1TokenBridge)
- l1BridgeImpCLKey: BASE_TOKEN_BRIDGE_IMP (chainlog key for L1TokenBridgeImp)

This will initialize a new SkyLink bridge that will facilitate bridging USDS and sUSDS between mainnet and Base. More information on these contracts and on the bridge deployment process can be found at the MakerDAO OP Token Bridge repository.

Star Allocation System Initialization for Spark

Authorization: Ecosystem Approval
Proposal: Forum Post

If this executive proposal passes, then the Star Allocation System for Spark will be initialized by executing the actions below:

Initialize shared components for the Allocator System by calling AllocatorInit.initShared with the following parameters:
- oracle: 0xc7B91C401C02B73CBdF424dFaaa60950d5040dB7 (AllocatorOracle)
- roles: 0x9A865A710399cea85dbD9144b7a09C889e94E803 (AllocatorRoles)
- registry: 0xCdCFA95343DA7821fdD01dc4d0AeDA958051bB3B (AllocatorRegistry)
Initialize Allocator ILK for Spark Star by calling AllocatorInit.initIlk with its parameters set as follow:
- sharedInstance:
  - oracle: 0xc7B91C401C02B73CBdF424dFaaa60950d5040dB7 (AllocatorOracle)
  - roles: 0x9A865A710399cea85dbD9144b7a09C889e94E803 (AllocatorRoles)
  - registry: 0xCdCFA95343DA7821fdD01dc4d0AeDA958051bB3B (AllocatorRegistry)
- ilkInstance:
  - owner: 0xbe8e3e3618f7474f8cb1d074a26affef007e98fb (MCD_PAUSE_PROXY)
  - vault: 0x691a6c29e9e96dd897718305427Ad5D534db16BA (AllocatorVault)
  - buffer: 0xc395D150e71378B47A1b8E9de0c1a83b75a08324 (AllocatorBuffer)
- cfg:
  - ilk: ALLOCATOR-SPARK-A
  - duty: 1000000001607468111246255079 (5.2%)
  - gap: 10,000,000 DAI
  - maxLine: 10,000,000 DAI
  - ttl: 86,400 seconds
  - allocatorProxy: 0x3300f198988e4C9C63F75dF86De36421f06af8c4 (SparkProxy)
  - ilkRegistry: 0x5a464c28d19848f44199d003bef5ecc87d090f87
Whitelist Spark ALM Proxy on the LitePSM by calling IPSMLike(MCD_LITE_PSM_USDC_A).kiss(almProxy: 0x1601843c5E9bC251A3272907010AFa41Fa18347E).

This will initialize the Spark Allocator System with a Maximum Debt Ceiling of 10,000,000 USDS and a fee of 5.2%. More information on these contracts can be found at the dss-allocator repository; an overview of the system implementation can be found at the README file therein.