|Implementor||Andy T CF (@andytcf)|
CouncilDilution.sol (introduced in SIP-104 which is used to store the hashes of SCCPs/SIPs created on snapshot is currently deployed on L1, it has become too expensive and slow for proposal creators to carry out their role in governance.
Moving this process to OVM and updating the apps to support OVM governance will alleviate the issue of governance artifact cost and speed.
The CouncilDilution.sol contract will be deployed on optimism and integrated within the Staking dApp. This integration will shift all governance features to be compatible with L2/OVM.
For proposal creators, they will create a snapshot proposal in the same way but this hash is then stored in the OVM instance of the contract.
For the end users, they will be prompted to connect to the OVM chain id in order to view and interact with governance.
Due to the recent gas prices, proposal creators have been experienced significant cost when executing the transaction that saves proposal hashes to the L1 instance of CouncilDilution.sol.
This cost has caused proposal creators to either
- pay a large amount of ETH for fast confirmation
- setting a low gas price and letting the tx sit in pending
Both scenarios have caused additional deterrents in the Spartan Council voting process leading to longer wait times for proposals to be voted on.
This SIP will deploy the CouncilDilution.sol contract on OVM which will significantly reduce the cost and time for SIP/SCCP proposals to be created and stored to be voted on.
This SIP proposes OVM as the layer 2 solution as it is most aligned with the rest of the Synthetix Roadmap as the system is transitioning to OVM.
Synthetix is also whitelisted for OVM deployment making this possible.
If this SIP is approved, the current L1 contract here will be deprecated and deployed to OVM using the Synthetix deployer (whitelisted)
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