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Policy Variables

Policy parameters in Apiology DAO can be modified through community governance votes, enabling the DAO to adapt its economic and operational rules as needed.

Auction House Parameters

duration

  • Description: The length of time each auction runs in the ApiologyDAO Auction House
  • Default: 86,400 seconds (1 day)
  • Impact: Controls auction duration. Shorter periods increase auction frequency, while longer periods provide more participation time

reservePriceBuffer

  • Description: Percentage buffer added to the Real Floor Value (RFV) to set auction reserve price
  • Default: 10%
  • Impact: Prevents underpriced sales by ensuring reserve price exceeds RFV
  • Example: With RFV of 1 ETH and 10% buffer, reserve price = 1.1 ETH

timeBuffer

  • Description: Minimum time remaining after a new bid to prevent auction sniping
  • Default: 300 seconds (5 minutes)
  • Impact: Extends auction duration when late bids occur, ensuring fair participation

minBidIncrementPercentage

  • Description: Required minimum percentage increase for new bids
  • Default: 5%
  • Impact: Ensures meaningful bid progression
  • Example: For a current bid of 1 ETH, next minimum bid = 1.05 ETH

feePercentage

  • Description: Percentage of auction proceeds sent to Liquid Backing Treasury
  • Default: 10%
  • Impact: Supports DAO operations and treasury growth through auction fees

randomRequestTimeout

  • Description: Timeout period for requesting new random numbers if Pyth entropy service fails
  • Default: 300 seconds (5 minutes)
  • Impact: Maintains auction fairness by allowing randomness request renewal after timeout

Treasury Parameters

minLoanDuration

  • Description: Minimum allowed duration for treasury-issued loans
  • Default: 86,400 seconds (1 day)
  • Impact: Prevents extremely short-term loans that could disrupt treasury management

termLimit

  • Description: Maximum allowed duration for treasury-issued loans
  • Default: 31,536,000 seconds (1 year)
  • Impact: Ensures treasury liquidity returns within a reasonable timeframe

Governance

All policy parameters can be adjusted through DAO governance votes. This allows the community to:

  • Adapt to market conditions
  • Optimize auction mechanics
  • Adjust treasury operations
  • Fine-tune economic parameters

Audits

The smart contracts implementing these policy variables have been audited by Beramarket. For detailed information, please refer to the audit report.