The Morpho association has deployed the Morpho AaveV3 ETH eMode Optimizer and now proposes that the Morpho DAO accept the smart contracts’ ownership.
After acceptance of the ownership, the DAO could upgrade the protocol after a delay of 24 hours and trigger all governance functions in the MorphoSetters file.
As for the previous versions, it proposes granting the Morpho Association access to different non-critical functions to react quickly in an emergency.
The Morpho Labs team has developed for the past few months Morpho-AaveV3. This is an improved version of Morpho adapted to the specificities of Aave V3 with some key new features such as:
- Efficiency mode (eMode)
- Fairer matching engine
- Permit2 for gasless token approvals
- Account management
The Morpho Association deployed the Morpho-AaveV3 instance specific to the ETH eMode at the following address: 0x33333aea097c193e66081E930c33020272b33333.
The Morpho Association also set the DAO as a pending protocol owner and set as ProxyAdmin (used for upgrades) of the protocol as the ProxyAdmin of the DAO.
This proposal aims to hand over the ownership to the Morpho DAO.
Specification of the proposal
The process would be the following:
- The DAO accepts the ownership as part of the two-step transfer process implemented in Morpho-AaveV3.
- The DAO must add the functions below to the Operator’s role (Role 1) on the Role Modifier.
Addresses of the different contracts:
- DAO multisig: 0xcba28b38103307ec8da98377fff9816c164f9afa
- DAO ProxyAdmin: 0x99917ca0426fbc677e84f873fb0b726bb4799cd8
- The current owner of Morpho-AaveV3: 0x937ce2d6c488b361825d2db5e8a70e26d48afed5
- Current ProxyAdmin of Morpho-AaveV3: 0x857ff845f9b11c19553b1d090b41c2255c67acc0
- RoleModifier: 0xa8b9650935efb3f2972d1ca4d3a8ba752d1a807a
The Morpho Association will submit the proposal to Snapshot in the following days. If the vote passes, the steps mentioned above will be executed.