OriginProtocol / OriginProtocol/origin-dollar
Automated buyback
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Description
Half of OUSD's performance fee (10% of yield) is used to buy back OGV from the open market and distribute it to OGV stakers. In the future, it's likely that some or all of OETH's performance fee will be handled in a similar fashion. Currently, these buyback transactions are constructed, verified, and executed manually by the Strategists. The intention is to conduct a buyback approximately every two weeks, but this doesn't always happen due to scheduling conflicts or other competing priorities. The transactions are fairly straightforward and just need to mitigate the risk of sandwich attacks by setting appropriate slippage parameters.
For several months, we've discussed the possbility of automating these buybacks with a cron scheduler. I don't think there's any desire right now to decentralize this function and we may want to start by keeping the manual verification requirement rather than having fully automated execution (not sure).
The other consideration is that we don't want these purchases to occur at the exact same time/day every week so that they aren't frontrun. An approximate recurring schedule is good, but perfect predictability would be bad.
Let's reduce the amount of manual work involved and simplify the process for automatically buying back OGV.
Contributor guide
No contributing guide indexed for this repository
First steps
- Read the whole issue, then the project's contributing guide.
- Comment on the issue to say you are picking it up — it saves two people doing the same work.
- Fork the repository and make your change on a branch.
- Open a pull request that references the issue number.
Research direction
No files, tests, or entry points are named. Begin by tracing how current OUSD buyback transactions are constructed, verified, and executed manually. Define the scheduling, slippage protection, predictability, and manual-approval requirements before implementation; done means buybacks require less manual work without increasing frontrunning risk.
Written by the indexing model from the issue text.
Assessment
- Tech stack
- solidity
- Domain
- blockchain
- Issue type
- Feature
- Difficulty
- 5/5
- Estimated time
- Over a week
- Activity status
- Stale
- Clarity
- Needs clarification
- Newbie friendliness
- 20/100