Moola Docs
MOO Governance
What is MOO?
MOO is a cERC20 token that was minted on the Celo blockchain. Its purpose is to coordinate governance decision making and incentive behavior that benefits the Moola ecosystem.
What can I do with MOO? Moola Market is governed and upgraded by MOO owners who can delegate their voting rights to themselves, or an address of their choice. Addresses delegated with at least 1,000,000 MOO can create governance proposals. All MOO owners can vote on governance proposals.
MOO owners can earn compound interest and borrow against the value of their MOO by depositing MOO into Moola Market. MOO can be sent to other addresses on the Celo network.
Actions controlled by MOO owners include:
Adding new assets to the protocol.
Enabling/disabling borrowing for a reserve.
Activate/deactivate reserve enabling/disabling all actions.
Unfreezing/freezing reserve, frozen reserve doesn't allow any new deposit, borrow or rate swap. But allows repayments, liquidations, rate rebalances and withdrawals.
Modifying reserves configuration parameters: loan to value, liquidation threshold, liquidation bonus, reserve factor, possiblity of stable borrow, default stable borrow rate, interest rate strategy.
Modifying Lending Pool implementation, changing any protocol logic.
Modifying Lending Pool Collateral Manager address, changing the logic of liquidation calls.
Modifying Price Oracle address, changing the logic of reserves price discovery.
Modifying Lending Rate Oracle address, changing the logic of lending rates discovery.
Modifying MToken and Stable/Variable Debt tokens implementation for an reserve, changing the logic protocol tokens.
Changing the Emergency Admin.
The contract 0x313bc86D3D6e86ba164B2B451cB0D9CfA7943e5c is controlled by a 6-of-10 multisig and collects the reserve factor.
An Emergency Admin has been set to the following externally owned account (simple wallet): 0x643C574128c7C56A1835e021Ad0EcC2592E72624
The only action Emergency Admin can perform is pausing/unpausing the whole Moola Market protocol. What is Moola Market protocol governance? Moola Market protocol governance is the process in which decisions that influence Moola Market parameters are made and the process in which those decisions are enacted. Examples include; deciding which assets to add, loan-to-value ratios, liquidation thresholds, fee amounts, and where to allocate collected fees. Moola Market is governed and upgraded by MOO owners, using three distinct components; the MOO token, governance module, and timelock. These contracts allow market participants to propose, vote, and implement changes. Proposals can modify system parameters, support new markets, or add entirely new functionality. MOO owners can delegate their voting rights to themselves, or an address of their choice. Addresses delegated with at least 1,000,000 MOO can create governance proposals.
When a governance proposal is created, it enters a 2 day review period, after which voting weights are recorded and voting begins. Voting lasts for 7 days; if a majority, and at least 4,000,000 votes are cast for the proposal, then it is queued in the timelock, and can be implemented 2 days later. In total, any change to the market takes at least 11 days. What is MOO’s token address?
How many MOO are there?
100,000,000 Which contract was used for the MOO token?
Is there an API endpoint I can use to see Circulating Supply? Yes, here.
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