Summary: Propose activation of the Governor Timelock for protocol roles administration and detail full transition plans.
Proposal: Execute on step one of the three step process for transferring system governance to the Governor Timelock detailed below:
Step 1) Pull ownership of the RolesAdmin contract and assign all relevant roles (see "Roles to Assign to Timelock" section). This will allow the Timelock to control permissions for new and existing Modules and Policies, and perform all system parameterization and maintenance.
Step 2) Pull ownership of the Kernel. This will allow the Timelock to control the installation of new Modules and Policies. At this point the Timelock has executive power over the protocol, excluding any roles assigned to guardian multisigs and the Veto Guardian’s ability to veto malicious proposals.
Step 3) Remove the Veto Guardian from the Governor. At this point the Timelock operates without oversight, excluding any roles assigned to guardian multisigs.
On Guardian Multisigs: Step 1 is not intended to remove permissions from the existing Guardian multisig. Prior to Step 2, the system will exist in a joint structure, in which all activity should be executed via Timelock but can be secured by the Guardian in case of bugs or other unexpected behavior regarding the Timelock. We can consider this a training wheels period, ensuring this transition does not place the protocol in a position of extreme risk. It is my belief that the current Guardian should slowly lose roles as time progresses and the Timelock demonstrates security and functionality, accelerating after Step 2 is executed. In the long term, having Guardians with access to shutdown functions on Policies and Modules will likely prove prudent, but non-Timelock control should end there. The dismantling of non-Timelock roles will occur via separate future votes.
Roles to Assign to Timelock:
1) "cooler_overseer",
2) "emergency_admin",
3) "emergency_shutdown",
4) "operator_admin",
5) "callback_admin",
6) "price_admin",
7) "custodian",
8) "emergency_restart",
9) "bridge_admin",
10) "heart_admin",
11) "operator_policy",
12) "loop_daddy"
Additional Notes: This proposal will not go to snapshot, but rather it will pass through the Governor Timelock and execute the operations above (pull ownership of RolesAdmin and assign roles) if the vote passes. It will go live one or two days after this post, and will go through the timeline of a Governor proposal: 3 days of discussion, 7 days of voting, 1 day grace period and then execution if passed.
To a new era!
