TTG Engineering Specification

Overview

Two Token Governance (TTG) is an EVM-compatible, immutable governance module for managing the M^0 core protocol and future M^0 ecosystem periphery.

Smart Contracts structure

1. Registrar for managing parameters and participants of M^0 core protocol and periphery contracts.

2. Three OpenZeppelin style Governors - StandardGovernor, EmergencyGovernor, and ZeroGovernor control the lifecycle of governance proposals.

3. ERC20 POWER token with built-in inflation, self-delegation, epoch snapshot tracking, and Dutch-style Auction mechanisms.

4. ERC20 ZERO token with built-in self-delegation and voting epoch snapshots tracking mechanisms.

5. Distribution Vault with claiming and distribution of protocol funds to ZERO token holders.

Key unique features

• Epochs for proposals lifecycle. Split of epochs between Transfer/Re-delegation/Auction and Voting epochs.

• Strictly restricted types of proposals and only one change per proposal.

• Inflation of POWER token supply, dilution of the voting power of inactive POWER participants during epochs with at least one Standard proposal. Auction of inflation of inactive POWER participants.

• RESET of governors by ZERO holders to POWER or ZERO token holders.

• ZERO rewards distribution to active delegates of POWER token holders per epoch.

• Distribution of proposal fees and other funds to ZERO holders.

• ERC20Votes compatible, epoch-based POWER and ZERO tokens with default self-delegation.

• Ability to batch vote on multiple proposals.

• Unique IDs for proposals that take into account epoch, parameter change, and proposed value. No duplication of proposals.