Recovery One Governance Contracts

Architecture

Phase 1: Stake/Unstake Depegged Tokens

• Compound based Governance Contract (OpenZeppelin)
• Stake depegged tokens for rONE Governance token.
• Unstake token to exit the rONE.
• Able to cast vote to Governance contract
• Only committee can propose
• Governance retains 2.5% for grantee
• Committee retains 2.5% for compensation

sequenceDiagram
    Users->>rONE (ERC20): Stake(depegged, amount)
    rONE (ERC20)->>Users: Mints rONE
    Users->>rONE (ERC20): Unstake(depegged, amount)
    rONE (ERC20)->>Governance: Mints 2.5% tokens
    rONE (ERC20)->>Committee(Gnosis): Mints 2.5% tokens
    Committee(Gnosis)->>Governance: Propose(transfer(rONE, grantee))
    Users->>Governance: castVote(proposalId, support)
    Governance->>rONE (ERC20): getVotes
    Committee(Gnosis)->>Governance: execute(proposal)

Phase 2: Staking/Unstake rONE

• RecoveryChef receives 750Mil ONE to pay for rewards
• Users can delegateVotes to let another address to vote on their behalf.

sequenceDiagram
    participant Users
    participant RecoveryChef
    participant Harmony

    Harmony->>RecoveryChef: Transfer(750Mil ONE)
    Users->>RecoveryChef: Stake(rONE, amount)
    Users->>RecoveryChef: Unstake(rONE, amount)
    Users->>RecoveryChef: collectReward()

Phase 3: ONE Redemption

• RecoveryRedemption receives 2.5 Bil ONE tokens over 3 year period

sequenceDiagram
    participant Users
    participant RecoveryChef
    participant RecoveryRedemption
    participant Harmony

    Harmony->>RecoveryRedemption: Funds 2.54 Bil tokens over 3 years
    Users->>RecoveryChef: Unstake(rONE, amount) (no penalty)
    Users->>RecoveryRedemption: swapForOne(amount)

How to run

npx hardhat help
npx hardhat test
GAS_REPORT=true npx hardhat test
npx hardhat node
npx hardhat run scripts/deploy.ts

quoc@quoc-linux:/mnt/fast01/governance-contracts$ npx hardhat run scripts/deploy.ts --network mainnet
Compiled 46 Solidity files successfully
RecoveryOne:  0x9De4d1267a1075E994ddc8d6bC31b9056B9b4133
Governance: 0x589ff084D31f8758614FB534a310C447A46855a9

Exported votes from snapshots:

Snapshot vote via graphql