SIP-0074: Electron Smart Contracts upgrade

Dear Sovryns,

We’re thrilled to announce that we’re in the final stretch of testing for our upcoming major smart contracts upgrade: the Electron release. This update brings a slew of bug fixes and improvements that we’re eager to share with you all:

  • Enhanced Lending: Now, lenders can leverage their existing loan collateral to amplify their debt.
  • DLLR EIP-2612 Implementation Bug Fix: We’ve tackled the Permit bug in DLLR by integrating the Uniswap Permit2 contract. This wrapper ensures a safe and reliable way to utilize permit functionality on any ERC-20 tokens not supporting EIP-2612, which could prove invaluable for future applications.
  • Improved Vesting Contract Logic: We’ve revamped the Vesting contract logic to overcome a critical issue related to the block gas limit when processing over 44 checkpoints. A new function enabling partial withdrawals has been added.

Check out the draft for SIP-0074 here.

SIP creation is scheduled for Thursday, February 1st, pending the outcome of our final testing phase.

Stay tuned for further updates, prepare to vote and feel free to share your thoughts and feedback!

10 Likes

Please postpone the voting day. I want to spend some time reading the pull requests since this SIP involves a lot of contract changes.

3 Likes

I also think this update seems way to big to roll it all into one vote. Can we split it up to individual notes for each contract and discuss in detail what each update is about ,what the risks could be are what it fixes actually do.

There are changes to team vesting part of the vesting contract. I would like to know what’s happening there in >plain language< for transparency reasons.

3 Likes

If there are changes of a certain magnitude (and it’s not some kind of emergency fix) …just announcing a SIP and putting it to vote a few days later is very much different to the proposed procedure to which any other SIP is held against to be even considered to be voted on.

Don’t trust, verify!
vs
Don’t verify, trust?

2 Likes

We are pushing the SIP-0074 creation back to monday, Feb 5th to provide more time to verify.
This is a big upgrade in terms of contracts affected, but not that big in terms of changes amount.
The SIP Draft has links to all the PRs, every contract prepared for upgrade is verified on the mainnet and listed in the PR.

4 Likes

The team vesting part is just a cleanup. It has already been refactored to cancel team vesting directly from the Staking contract quite a while ago and now we are removing superfluous legacy code.

1 Like

I understand this impression, but the change volume is not that dramatic. This is just different repositories and we are aggregating the upgrades into one SIP to clean up our table to throw efforts into the next stage activities: develop a new StakingRewards incentives contract, prepare for expansion to other networks and for the future BitcoinOS contracts deployment.
If you take a closer look, each upgrade separately is really a small change.

6 Likes

Are all related code changes deployed to rsk testnet?

Yes. Actual deployment .json objects include addresses.

TESTNET

VestingLogic, VestingFactory, LoanOpenings:

Zero contracts:

Mynt contracts:

3 Likes

Dear Sovryn owners,

The SIP-0074 is created.
Please use you voting power: Sovryn - DeFi for bitcoin

Thank you!

1 Like

thank you tyron for explaining it all sorry for the late reply. You are doing a wonderful job!

1 Like