Draft of Governance Proposal to Return Celo from the Mento Reserve to the community fund

cgp.json

[
  {
    "contract": "StableTokenV2",
    "address": "0x765DE816845861e75A25fCA122bb6898B8B1282a",
    "function": "setExchange",
    "args": ["0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972"],
    "value": "0"
  },
  {
    "contract": "StableToken",
    "address": "0x765DE816845861e75A25fCA122bb6898B8B1282a",
    "function": "mint",
    "args": [
      "0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972",
      "10000000000000000000000000"
    ],
    "value": "0"
  },
  {
    "contract": "StableTokenV2",
    "address": "0x765DE816845861e75A25fCA122bb6898B8B1282a",
    "function": "setExchange",
    "args": ["0x0000000000000000000000000000000000000000"],
    "value": "0"
  },
  {
    "address": "0xf4cab10dC19695AaCe14b7A16d7705b600ad5F73",
    "function": "transfer(address,uint256)",
    "args": [
      "0x87647780180B8f55980C7D3fFeFe08a9B29e9aE1",
      "20001239154911011864219072"
    ],
    "value": "0"
  },
  {
    "contract": "Governance",
    "address": "0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972",
    "function": "setMinDeposit",
    "args": ["10000000000000000000000"],
    "value": "0"
  },
  {
    "contract": "GoldToken",
    "address": "0x471EcE3750Da237f93B8E339c536989b8978a438",
    "function": "increaseAllowance",
    "args": [
      "0x71f433514957d00287A9d33Da759f1e0C1732381",
      "700000000000000000000000"
    ],
    "value": "0"
  },
  {
    "contract": "StableToken",
    "address": "0x765DE816845861e75A25fCA122bb6898B8B1282a",
    "function": "increaseAllowance",
    "args": [
      "0x71f433514957d00287A9d33Da759f1e0C1732381",
      "1700000000000000000000000"
    ],
    "value": "0"
  }
]

explanation.md

Description

The intent of the CGP is to:

1. mint 10mil cUSD to the Celo Governance contract
2. transfer curve LP tokens from the Governance contract to the Mento Reserve
3. increase the minimum deposit required for CGP submission to 10k (from 100)
4. incrase allowances of the Celo Community Fund Spender multisig on Celo Governance assets

Through this document I will refere to governance as the Celo Governance contract and also the Celo Community Fund, as it currently servers both purposes.

Transactions

(1) Mint cUSD

TX#0 cUSD.setExchange(governance)

We will temporarily register governance as the token's exchange, thus giving it minting rights.

TX#1 cUSD.mint(governance, 1e7 * 1e18)

Mint 10mil cUSD to the Celo Community Fund (i.e. the governance contract).

TX#2 cUSD.setExchange(address(0))

Undos TX#7.

We're setting to address(0) because exchanges are a deprecated feature of Mento V1.

(2) Transfer LP tokens

TX#3 cUSDUSDC_CurvePool.transfer(mentoReserveMultisig, 20001239154911011864219072)

Transfer LP tokens for the cUSDUSDC curve pool back to the Mento Reserve.

(3) Increase the minimum deposit

TX#4 Governance.setMinDeposit(10000 * 1e18)

Increase the minimum deposit required for governance proposal to 10k Celo.

(4) Increase the allowence for the Celo Community Fund Spender multisig

TX#5 GoldToken.increaseAllowance(communityFundSpender, 700000 * 1e18)

Add 700000 Celo to the spender allowance.

TX#6 cUSD.increaseAllowance(communityFundSpender, 1700000 * 1e18)

Add 1700000 cUSD to the spender allowance.

simulation-results

Traces:
  [9541553] SimulateUpgrade::run(ReturnCelo)
    ├─ [0] VM::createFork(celo)
    │   └─ ← 1
    ├─ [0] VM::selectFork(1)
    │   └─ ← ()
    ├─ [0] VM::startPrank(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972])
    │   └─ ← ()
    ├─ [26795] MentoReserve::addSpender(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972])
    │   ├─ [25901] 0xfD9651862Bc1965349E92073152112289393b57d::addSpender(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972]) [delegatecall]
    │   │   ├─ emit SpenderAdded(param0: Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972])
    │   │   └─ ← ()
    │   └─ ← ()
    ├─ [5811] MentoReserve::setDailySpendingRatio(1000000000000000000000000 [1e24])
    │   ├─ [4917] 0xfD9651862Bc1965349E92073152112289393b57d::setDailySpendingRatio(1000000000000000000000000 [1e24]) [delegatecall]
    │   │   ├─ emit DailySpendingRatioSet(: 1000000000000000000000000 [1e24])
    │   │   └─ ← ()
    │   └─ ← ()
    ├─ [50206] MentoReserve::addOtherReserveAddress(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972])
    │   ├─ [49306] 0xfD9651862Bc1965349E92073152112289393b57d::addOtherReserveAddress(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972]) [delegatecall]
    │   │   ├─ emit OtherReserveAddressAdded(param0: Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972])
    │   │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    ├─ [40153] MentoReserve::transferGold(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], 41633000000000000000000000 [4.163e25])
    │   ├─ [39247] 0xfD9651862Bc1965349E92073152112289393b57d::transferGold(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], 41633000000000000000000000 [4.163e25]) [delegatecall]
    │   │   ├─ [5333] Governance::fallback{value: 41633000000000000000000000}()
    │   │   │   ├─ [70] 0x1914EA95139FEd935a524984497895619B347F46::fallback() [delegatecall]
    │   │   │   │   └─ ← ()
    │   │   │   └─ ← ()
    │   │   ├─ emit ReserveGoldTransferred(param0: Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], param1: Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], param2: 41633000000000000000000000 [4.163e25])
    │   │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    ├─ [4722] MentoReserve::removeOtherReserveAddress(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], 2)
    │   ├─ [3997] 0xfD9651862Bc1965349E92073152112289393b57d::removeOtherReserveAddress(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], 2) [delegatecall]
    │   │   ├─ emit OtherReserveAddressRemoved(param0: Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], param1: 2)
    │   │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    ├─ [2409] MentoReserve::setDailySpendingRatio(50000000000000000000000 [5e22])
    │   ├─ [1694] 0xfD9651862Bc1965349E92073152112289393b57d::setDailySpendingRatio(50000000000000000000000 [5e22]) [delegatecall]
    │   │   ├─ emit DailySpendingRatioSet(: 50000000000000000000000 [5e22])
    │   │   └─ ← ()
    │   └─ ← ()
    ├─ [2452] MentoReserve::removeSpender(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972])
    │   ├─ [1737] 0xfD9651862Bc1965349E92073152112289393b57d::removeSpender(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972]) [delegatecall]
    │   │   ├─ emit SpenderRemoved(param0: Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972])
    │   │   └─ ← ()
    │   └─ ← ()
    ├─ [31207] cUSD::setExchange(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972])
    │   ├─ [25813] 0x434563B0604BE100F04B7Ae485BcafE3c9D8850E::setExchange(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972]) [delegatecall]
    │   │   ├─  emit topic 0: 0x403871c8d404db2d13402bd857192acd8f680acd7f2d6e1e5bf2128d013d7eaa
    │   │   │           data: 0x000000000000000000000000d533ca259b330c7a88f74e000a3faea2d63b7972
    │   │   └─ ← ()
    │   └─ ← ()
    ├─ [17777] cUSD::mint(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], 10000000000000000000000000 [1e25])
    │   ├─ [16871] 0x434563B0604BE100F04B7Ae485BcafE3c9D8850E::mint(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], 10000000000000000000000000 [1e25]) [delegatecall]
    │   │   ├─ emit Transfer(param0: 0x0000000000000000000000000000000000000000, param1: Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], param2: 10000000000000000000000000 [1e25])
    │   │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    ├─ [2246] cUSD::setExchange(0x0000000000000000000000000000000000000000)
    │   ├─ [1531] 0x434563B0604BE100F04B7Ae485BcafE3c9D8850E::setExchange(0x0000000000000000000000000000000000000000) [delegatecall]
    │   │   ├─  emit topic 0: 0x403871c8d404db2d13402bd857192acd8f680acd7f2d6e1e5bf2128d013d7eaa
    │   │   │           data: 0x0000000000000000000000000000000000000000000000000000000000000000
    │   │   └─ ← ()
    │   └─ ← ()
    ├─ [22794] Curve LP Token::transfer(MentoReserveMultiSig: [0x87647780180B8f55980C7D3fFeFe08a9B29e9aE1], 20001239154911011864219072 [2e25])
    │   ├─ [22616] 0xfEE7166C32Bdf6356Ef60636f43400AA55551A96::transfer(MentoReserveMultiSig: [0x87647780180B8f55980C7D3fFeFe08a9B29e9aE1], 20001239154911011864219072 [2e25]) [delegatecall]
    │   │   ├─ emit Transfer(param0: Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], param1: MentoReserveMultiSig: [0x87647780180B8f55980C7D3fFeFe08a9B29e9aE1], param2: 20001239154911011864219072 [2e25])
    │   │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    ├─ [9673] Governance::setMinDeposit(10000000000000000000000 [1e22])
    │   ├─ [8779] 0x1914EA95139FEd935a524984497895619B347F46::setMinDeposit(10000000000000000000000 [1e22]) [delegatecall]
    │   │   ├─ emit MinDepositSet(: 10000000000000000000000 [1e22])
    │   │   └─ ← ()
    │   └─ ← ()
    ├─ [30293] CELO::increaseAllowance(CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381], 700000000000000000000000 [7e23])
    │   ├─ [24887] 0xcB8710e072aC4700eE7eD0C63B2f2102366a7a39::increaseAllowance(CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381], 700000000000000000000000 [7e23]) [delegatecall]
    │   │   ├─ emit Approval(param0: Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], param1: CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381], param2: 700000000000000000000000 [7e23])
    │   │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    ├─ [25618] cUSD::increaseAllowance(CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381], 1700000000000000000000000 [1.7e24])
    │   ├─ [24712] 0x434563B0604BE100F04B7Ae485BcafE3c9D8850E::increaseAllowance(CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381], 1700000000000000000000000 [1.7e24]) [delegatecall]
    │   │   ├─ emit Approval(param0: Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], param1: CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381], param2: 1700000000000000000000000 [1.7e24])
    │   │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000001
    ├─ [0] console::log(Proposal was simulated successfully.) [staticcall]
    │   └─ ← ()
    ├─ [0] VM::stopPrank()
    │   └─ ← ()
    ├─ [467] ReturnCelo::hasChecks()
    │   └─ ← true
    ├─ [162181] ReturnCeloChecks::run()
    │   ├─ [1872] 0x000000000000000000000000000000000000ce10::getAddressForString(Governance) [staticcall]
    │   │   ├─ [960] 0x203fdf86A00999107Df531fa00b4bA81d674cb66::getAddressForString(Governance) [delegatecall]
    │   │   │   └─ ← 0x000000000000000000000000d533ca259b330c7a88f74e000a3faea2d63b7972
    │   │   └─ ← 0x000000000000000000000000d533ca259b330c7a88f74e000a3faea2d63b7972
    │   ├─ [1872] 0x000000000000000000000000000000000000ce10::getAddressForString(Reserve) [staticcall]
    │   │   ├─ [960] 0x203fdf86A00999107Df531fa00b4bA81d674cb66::getAddressForString(Reserve) [delegatecall]
    │   │   │   └─ ← 0x0000000000000000000000009380fa34fd9e4fd14c06305fd7b6199089ed4eb9
    │   │   └─ ← 0x0000000000000000000000009380fa34fd9e4fd14c06305fd7b6199089ed4eb9
    │   ├─ [1872] 0x000000000000000000000000000000000000ce10::getAddressForString(StableToken) [staticcall]
    │   │   ├─ [960] 0x203fdf86A00999107Df531fa00b4bA81d674cb66::getAddressForString(StableToken) [delegatecall]
    │   │   │   └─ ← 0x000000000000000000000000765de816845861e75a25fca122bb6898b8b1282a
    │   │   └─ ← 0x000000000000000000000000765de816845861e75a25fca122bb6898b8b1282a
    │   ├─ [1872] 0x000000000000000000000000000000000000ce10::getAddressForString(GoldToken) [staticcall]
    │   │   ├─ [960] 0x203fdf86A00999107Df531fa00b4bA81d674cb66::getAddressForString(GoldToken) [delegatecall]
    │   │   │   └─ ← 0x000000000000000000000000471ece3750da237f93b8e339c536989b8978a438
    │   │   └─ ← 0x000000000000000000000000471ece3750da237f93b8e339c536989b8978a438
    │   ├─ [1872] 0x000000000000000000000000000000000000ce10::getAddressForString(Reserve) [staticcall]
    │   │   ├─ [960] 0x203fdf86A00999107Df531fa00b4bA81d674cb66::getAddressForString(Reserve) [delegatecall]
    │   │   │   └─ ← 0x0000000000000000000000009380fa34fd9e4fd14c06305fd7b6199089ed4eb9
    │   │   └─ ← 0x0000000000000000000000009380fa34fd9e4fd14c06305fd7b6199089ed4eb9
    │   ├─ [0] VM::label(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], Governance)
    │   │   └─ ← ()
    │   ├─ [0] VM::label(CELO: [0x471EcE3750Da237f93B8E339c536989b8978a438], CELO)
    │   │   └─ ← ()
    │   ├─ [0] VM::label(cUSD: [0x765DE816845861e75A25fCA122bb6898B8B1282a], cUSD)
    │   │   └─ ← ()
    │   ├─ [0] VM::label(Curve LP Token: [0xf4cab10dC19695AaCe14b7A16d7705b600ad5F73], Curve LP Token)
    │   │   └─ ← ()
    │   ├─ [0] VM::label(MentoReserveMultiSig: [0x87647780180B8f55980C7D3fFeFe08a9B29e9aE1], MentoReserveMultiSig)
    │   │   └─ ← ()
    │   ├─ [0] VM::label(CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381], CommunitySpender)
    │   │   └─ ← ()
    │   ├─ [0] VM::label(MentoReserve: [0x9380fA34Fd9e4Fd14c06305fd7B6199089eD4eb9], MentoReserve)
    │   │   └─ ← ()
    │   ├─ [1401] CELO::balanceOf(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972]) [staticcall]
    │   │   ├─ [501] 0xcB8710e072aC4700eE7eD0C63B2f2102366a7a39::balanceOf(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972]) [delegatecall]
    │   │   │   └─ ← 0x00000000000000000000000000000000000000000037c769a6206d2da614a27b
    │   │   └─ ← 0x00000000000000000000000000000000000000000037c769a6206d2da614a27b
    │   ├─ [1371] Curve LP Token::balanceOf(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972]) [staticcall]
    │   │   ├─ [1199] 0xfEE7166C32Bdf6356Ef60636f43400AA55551A96::balanceOf(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972]) [delegatecall]
    │   │   │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000000
    │   │   └─ ← 0x0000000000000000000000000000000000000000000000000000000000000000
    │   ├─ [1312] Governance::minDeposit()
    │   │   ├─ [418] 0x1914EA95139FEd935a524984497895619B347F46::minDeposit() [delegatecall]
    │   │   │   └─ ← 0x00000000000000000000000000000000000000000000021e19e0c9bab2400000
    │   │   └─ ← 0x00000000000000000000000000000000000000000000021e19e0c9bab2400000
    │   ├─ [2021] cUSD::allowance(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381]) [staticcall]
    │   │   ├─ [1115] 0x434563B0604BE100F04B7Ae485BcafE3c9D8850E::allowance(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381]) [delegatecall]
    │   │   │   └─ ← 0x0000000000000000000000000000000000000000000167fd2f45f5fa5e800000
    │   │   └─ ← 0x0000000000000000000000000000000000000000000167fd2f45f5fa5e800000
    │   ├─ [1593] CELO::allowance(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381]) [staticcall]
    │   │   ├─ [687] 0xcB8710e072aC4700eE7eD0C63B2f2102366a7a39::allowance(Governance: [0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972], CommunitySpender: [0x71f433514957d00287A9d33Da759f1e0C1732381]) [delegatecall]
    │   │   │   └─ ← 0x00000000000000000000000000000000000000000000943b1377290cbd800000
    │   │   └─ ← 0x00000000000000000000000000000000000000000000943b1377290cbd800000
    │   └─ ← ()
    └─ ← ()