OriginProtocol / OriginProtocol/origin-dollar

Automated buyback

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devops enhancement OGV P2
Dominant language
Solidity
Stars
152
Forks
115
Avg merge
3d 20h
Merged PRs (30d)
17

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

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First steps

  1. Read the whole issue, then the project's contributing guide.
  2. Comment on the issue to say you are picking it up — it saves two people doing the same work.
  3. Fork the repository and make your change on a branch.
  4. 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

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