Implementation of an On-Chain pDAO (RPIP-33)

RPIP-33 specifies an on-chain replacement for the pDAO governance system's execution process. It uses an optimistic fraud-proof system that allows any node operator to raise proposals and vote on proposals to adjust "pDAO protocol parameters" and spend treasury funds.

Outcome if vote passes

RPIP-33 will be implemented in a future smart contract release Once implemented, it will allow the pDAO to control protocol parameters and spend treasury funds.

Rationale

The pDAO has two primary powers within Rocket Pool. The first is having control over certain parameters which define how the protocol operates. e.g. Enabling or disabling deposits or setting the rate of inflation. The second role is spending treasury funds; A portion of RPL inflation is sent to a contract which the pDAO has the power to spend.

Currently, the core team is responsible for executing pDAO duties at the behest of the community governance process. For example, the team carries out the monthly IMC and GMC payments as per the governance voted payment schedules. The plan was for this power to reside with the team temporarily until a new power structure is set up to take over these responsibilities.

The motivation for this proposal is to remove the dependency on the team, making the protocol more decentralised and trustless.

Context

Full RPIP Forum thread