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 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/remove, loan-to-value ratios, liquidation thresholds, fee amounts, and where to allocate collected fees.
Moola Market governance uses an on chain voting mechanism to signal intent, but proposals must be effectuated by the following 6-of-10 multisig contract:
0xd7f77169d5E6a32C5044052F9a49eb94697b25ED. It requires 6 signatures out of 10 cosigners to perform any action.
In order to allow batched operations though a multisig, OwnedWallet contract is deployed at
0x313bc86D3D6e86ba164B2B451cB0D9CfA7943e5cis controlled by the multisig and collects the reserve factor. MOO token owners can propose and vote to 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 by the 6-of-10 multisig. In total, changes to the market generally takes at least 11 days. In the event of an emergency, the multisig has authority to quickly move unilaterally.
Actions controlled by the 6-of-10 multisig 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.
Moola protocol has an appointed Emergency Admin set to the following externally owned account (simple wallet):
0x643C574128c7C56A1835e021Ad0EcC2592E72624. The only action
Emergency Admincan perform is pausing/unpausing the whole Moola Market protocol. What is MOO’s token address?
How many MOO are there?
100,000,000 Which contract was used for the MOO token?