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SIP Title Author Status Track Created
0058
Staking contract update
cowsant (@cwsnt), Ororo Monroe (@ororopickpocket), Tyrone Johnson (@tjcloa)
Approved
Contract
2023-03-17

SIP-0058: Staking contract update

Description:

After the latest investment round new vesting contracts with a duration of 4 years have been deployed. Because of the 3 year limitation on the staking contract, new contracts and a new deployment procedure needed to be developed. However, due to human mistake two steps of the process were executed in the wrong order. First, the tokens were staked and only afterwards the contracts were registered on the vesting registry. This led to incorrect accounting of the vesting stake on the staking contract, which has 2 consequences:

  1. Some vesting contracts are not able to withdraw their stake.
  2. The fee sharing contract considers the vesting contracts’ stakes as eligible for fee sharing, leading to lower fees for voluntary stakers. Nonetheless, the vesting contracts are not able to withdraw the fees because they are registered by now, effectively locking up the funds on the fee sharing contract.

This SIP will allow us to add new vesting stake checkpoints for the dates with incorrect state. As a result the staking contract will allow the affected vesting contracts to withdraw their unlocked stake and also the fee sharing contract will read the correct vesting stake when writing checkpoints on distribution, leading to correct future fee distributions. Past fee distributions remain unchanged.

We are also taking the opportunity to reintroduce the function governanceWithdrawVesting , which was used for canceling team vesting contracts in the past. SIP-0049 introduced the new method cancelTeamVesting, rendering the old function redundant. Babelfish, however, does still require governanceWithdrawVesting. This update allows Babelfish to keep using our staking contract code and go along with any updates we are introducing.

Proposed changes:

Code changes:

Contracts updated:

  • StakingWithdrawModule: 0xf97c4751E4c75d28B600b0207519f2C71aA8902c
  • StakingVestingModule: 0x53C5C57302e7A6529C1A298B036426b944dC23Af

License:

Copyright and related rights waived via CC0.