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Schnoodle ĐAOSchnoodle ĐAOby0x78FC40ca8A23cf02654d4A5638Ba4d71BAcaa965schnoodle.eth

Upgrade to SchnoodleV8 and SchnoodleFarmingV2?

Voting ended over 4 years agoSucceeded

This proposal is for an upgrade to SchnoodleV8 and SchnoodleFarmingV2.

These are the changes:

  1. SchnoodleV8: Fixed bug in the Scaling Sell Quota (SSQ) part of the Price Support Mechanism (PSM) that was causing non-swap transfers to reduce the sell quota. This fix will result in only sell swaps causing this as per the design specification and published documentation.
  2. SchnoodleFarmingV2: New feature called the Lock Factor Governor (LFG) which adds two new settings to the contract: _vestingBlocksFactor and _unbondingBlocksFactor which are permil (‰) values. These may be changed via the changeVestingBlocksFactor and changeUnbondingBlocksFactor functions via multisig or DAO process. The effect of these is to adjust the vesting blocks and unbonding blocks settings of all deposits dynamically at the point of withdrawal (withdraw function).
  3. SchnoodleFarmingV2: New setting _maxUnbondingBlocks to limit the unbonding blocks setting upon adding a deposit.

Note that an immediate post-execution step is planned using multisig that will initialise the _vestingBlocksFactor, _unbondingBlocksFactor, and _maxUnbondingBlocks settings to 1000, 20, and 3000000 respectively (via the configure function). These equate to 100%, 2% and (currently) ~9 days respectively. This will have the effect of reducing all existing farmers' unbonding period by a factor of 50. E.g., those with a unbonding period of 1 year will see it change to just over a week instead. Hence why it's called the LFG. 🚀

This upgrade will be performed under the EIP-1967 Transparent Proxy pattern (per the whitepaper), and will therefore not require a token swap. All future contract interactions will continue to be via the existing Schnoodle proxy contract address.

Off-Chain Vote

Yes
8.15B 99.2%
No
62.72M 0.8%
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Timeline

Dec 21, 2021Proposal created
Dec 21, 2021Proposal vote started
Dec 22, 2021Proposal vote ended
Oct 26, 2023Proposal updated