EGL
  • 🦅The Ethereum Eagle Project (EGL)
  • Protocol Overview
    • Key Functionality
    • EGL Genesis
      • Genesis
      • Release Schedule
      • Balancer Deployment
    • Voting
      • Vote, Revote, Withdraw
      • Calculating desiredEgl
      • Voting Threshold
      • Rewards
      • Leaderboard
    • Mining Pool Reward
    • The DAO
      • EGL Signals
        • Allocations
    • Token Distribution
  • Developer Documentation
    • Architecture
    • Voting
      • Claiming EGLs
    • Withdrawing EGLs
    • Withdrawing Pool Tokens
    • Tally Votes
    • Setting the gasLimit and gasTarget
    • Claiming Miner Rewards
    • Internal Functions
  • Governance
  • Governance Model
  • User Guides
    • Genesis
    • Voting
      • Claim & Vote
      • Vote
      • Revote
    • Helpful Tips
  • Appendix
    • Formulas
    • Attributes
    • FAQs
      • Design
      • Genesis
      • Voting
      • Other
    • Audits
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Governance Model

PreviousInternal FunctionsNextGenesis

Last updated 3 years ago

EGL is governed by its community, via Discord and forum discussions. At launch, EGL is fully functional: EGL holders can vote on their desired gas limit and miners can follow the vote. Any EGL holder can, and is encouraged to, actively participate in any future development of EGL.

At launch the EGL smart contract are governed by multisig wallets of independent and decentralized actors. The multisig members are trusted members of the DeFi & Ethereum ecosystem. Specifically,

Genesis

  • A wallet deploys Genesis and passes through a parameter that sets the contract's ownership to the Genesis multisig wallet.

  • A wallet deploys the EGL Token Contract and passes through a parameter assigning all 4 billion EGLs to the Genesis multisig wallet.

  • Upon Genesis ending, all ETH staked is transferred the to Genesis multisig wallet.

Balancer Deployment

  • The Genesis multisig wallet deploys a ETH-EGL Balancer with all the staked ETH and 750M EGLs

Voting Contract

  • A wallet deploys the Voting Contract and passes through a parameter setting the contract's ownership to the Voting multisig Wallet

  • The Genesis multisig wallet moves the remaining 3.250M EGLs to the Voting Contract

  • The voting contract can be upgraded with the Upgrade mutlisig wallet

Multisig Wallets

The multisig wallets require 3 of 5 members to sign a transaction for it to be approved.

The Genesis multisig members are:

  • BeePool, top ETH mining pool

  • Philippe Castonaguy, Director of Product@0xHorizonGames, Building @SkyweaverGame

  • Dennis Chou, Director of Trading at Pantera Capital

  • Will Meister, fmr VP Engineering @OptimismPBC, current independent consultant

  • bloXroute Labs

The Voting Contract multisig members are:

  • BeePool, top ETH mining pool

  • Philippe Castonaguy, Director of Product@0xHorizonGames, Building @SkyweaverGame

  • Tesa Ho, Portfolio Manager at Digital Asset Alpha, coordinator @BanklessDAO

  • Ivan Bogatyy, Decentralizing Ethereum block production @Mining_DAO, Research @dragonfly_cap, prev GP Metastable,@GoogleAI @TensorFlow

  • bloXroute Labs

The Upgrade multisig members are:

  • BeePool, top ETH mining pool

  • Philippe Castonaguy, Director of Product@0xHorizonGames, Building @SkyweaverGame

  • Tesa Ho, Portfolio Manager at Digital Asset Alpha, coordinator @BanklessDAO

  • Ivan Bogatyy, Decentralizing Ethereum block production @Mining_DAO, Research @dragonfly_cap, prev GP Metastable,@GoogleAI @TensorFlow

  • bloXroute Labs

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