PCV Management
PCV (Protocol Controlled Value) is the aggregate amount of all the funds held by the protocol on its various PCV Deposits, collectively managed by all the Essence DAO Token holders, through protocol governance.
Through governance proposals, anyone can suggest new yield strategies, PCV deployments, if approved, new PCV Deposits will be deployed to implement them.
There are three different types of PCV movements:
Manual
Automated
Guardian
Manual PCV Movements
Through governance, ZEN holders can vote to move PCV from one location to another.
The movement of PCV between deposits can be performed by any smart-contract with the PCV_CONTROLLER role, including the DAO Governor (see Access Control)
If a desired PCV deployment does not have a PCV deposit, it can be escrowed in the DAO's Timelock.
Automated PCV Movements
In certain cases PCV needs to be automatically moved between deposits when one deposit runs low on reserves, such as the Peg Stability Module (PSM).
Protocol infrastructure can trigger these moves through contracts like the PCVDripController which can incentivize condition movements, or directly move them as a PCV_CONTROLLER.
Guardian PCV Movements
The PCV Guardian can move PCV instantly between "safe" PCV deposits which are pre-approved by the DAO. For instance to save funds held on a compromised PCV deposit, or to move yield farming rewards to a suitable deposit where they can be delegated to vote in other DAO's.
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