Summary
This RFC proposes upgrading the two vlRSR governance systems associated with Reserve’s five AI DTFs and MAG7 to Reserve Governor 1.1.0:
- BSC vlRSR: 0xE744C8157c346B2931807F42552c8CBc0BB6D34f, used by BUILDOUT, POWER, NEOCLOUD, PHOTON and ROBOTS.[3][4]
- Base vlRSR: 0x2F0D6538807a77d4AdDCd4b4DAf214Ea2E818E3D.[3][5]
The purpose of the upgrade is proposal-spam protection.[2]
Release 1.1.0 extends the proposal throttle (previously optimistic proposals only) to standard proposals. [1][2]
How the spam protection works
Release 1.1.0 uses a shared per-account proposal throttle across both governance paths. Standard and optimistic proposals draw from the same refillable allowance over a 12-hour period, limiting how quickly one account can submit proposals.[1][2]
For standard proposals, the proposer must meet the proposal threshold using both their voting power at the current timestamp and their average voting power over the preceding 12 hours, normalized by average total supply.[1][2]
Together, these checks form one proposal-throttling mechanism: an account cannot rapidly propose too many proposals at once, and voting power acquired or delegated only briefly cannot be used immediately to propose.[2]
For more context on the necessity of this approach, see the recent flurry of spam proposals levied against BDTF.
Additional upgrade safety
Release 1.1.0 also adds version-registry checks for the vlRSR vault, governor and timelock. Future upgrades of these components must match the latest registered, non-deprecated governance release. [2]
Proposed action
Submit one standard governance proposal to each vlRSR DAO:
- Upgrade the shared AI DTF vlRSR system on BSC to Reserve Governor 1.1.0.
- Upgrade the MAG7 vlRSR system on Base to Reserve Governor 1.1.0.
Each proposal will upgrade the staking vault, governor, and timelock. The three upgrades will be batched atomically, with the vault upgraded first, so the system cannot be left partially upgraded.[2]
Technical execution
At the lower level, each proposal will execute the following calls in order:
vault.upgradeToAndCall(vaultImpl, initializeAverageVotes())
governor.upgradeToAndCall(
governorImpl,
initializeVersionRegistry(0x0692eCddFe6ad18dBD4BBD7D1ea506e461Eb87aA)
)
timelock.upgradeToAndCall(
timelockImpl,
initializeVersionRegistry(0x0692eCddFe6ad18dBD4BBD7D1ea506e461Eb87aA)
)
In the final proposal payloads, vaultImpl, governorImpl and timelockImpl will be the implementation addresses registered for release 1.1.0 on that chain, as gotten from the official Deployer contracts: Release 1.1.0 · reserve-protocol/reserve-governor · GitHub
What does not change?
This upgrade does not change:
- the baskets, mandates or fees of BUILDOUT, POWER, NEOCLOUD, PHOTON, ROBOTS or MAG7;
- vlRSR balances or underlying RSR balances;
- existing standard or optimistic delegations;
- reward-token configuration or the unstaking delay;
- the optimistic proposer, veto threshold or selector permissions; or
- proposals in flight, voting periods, quorum settings or timelock delays.
No token migration or other action is required from vlRSR holders.
Risks and considerations
As with any proxy upgrade, there is implementation and execution risk. The proposals mitigate this by using only the registered 1.1.0 implementations and batching each system’s three component upgrades atomically.[2]
These 1.1.0 implementations, along with the described upgrade path, have been vetted by Trust Security.
After execution, standard-proposal eligibility will ramp up as the 12-hour time-weighted period accrues. This affects the ability to create standard proposals for a short period of time; it does not prevent vlRSR holders from voting or vetoing proposals.[2]
Feedback requested
Please share any feedback or objections to applying the Reserve Governor 1.1.0 proposal-spam protection upgrade to both vlRSR governance systems.
If there are no material objections during the RFC period, the next step will be to publish the exact proposal payloads and submit the two standard governance proposals onchain.
- YES
- NO
Sources
[1] Release 1.1.0 · reserve-protocol/reserve-governor · GitHub — Reserve Governor 1.1.0 release
[2] reserve-governor/README.md at r1.1.0 · reserve-protocol/reserve-governor · GitHub — Reserve Governor 1.1.0 upgrade guide
[3] reserve-governor/test/fork/README.md at r1.1.0 · reserve-protocol/reserve-governor · GitHub — Reserve Governor 1.1.0 fork-test fixtures
[4] https://bscscan.com/address/0xE744C8157c346B2931807F42552c8CBc0BB6D34f — Shared AI DTF vlRSR vault on BSC
[5] Address: 0x2F0D6538...a2E818E3D | BaseScan — MAG7 vlRSR vault on Base