[RFC] Upgrade bsdETH to Release 3.4.0

Based ETH (bsdETH)
1

Summary

This proposal recommends upgrading the bsdETH RToken to version 3.4.0 of the Reserve Protocol to integrate with QiDAO, enabling users to mint MAI with bsdETH following the approval of the proposal from their DAO.

Motivation

The recent QiDAO integration requires bsdETH to upgrade to the Reserve Protocol v3.4.0 upon audit completion. This governance action is necessary for QiDAO integration by upgrading the pricing function, allowing bsdETH to be used as MAI collateral. This RFC aims to expedite the contract upgrade process for swift integration as soon as the update becomes available.

Specification

Draft instructions have been provided for upgrading bsdETH to release version 3.4.0 of the Reserve Protocol:

Detailed Instructions:

Steps for Upgrading bsdETH:

Description Target Contract Method Data
Assign OWNER role to the spell Main Contract Address grantRole OWNER_ROLE to spell_address
Assign TIMELOCK_ADMIN_ROLE to the spell Timelock Contract Address grantRole TIMELOCK_ADMIN_ROLE to spell_address
Execute the upgrade spell Spell Contract Address castSpell

Each row of the instructions represents a single function call being made to a Reserve-related smart contract as part of the upgrade process.

Common Upgrades/Calls:

The following calls will be made for the upgrade:

  1. Grant Roles:
  • Grant the OWNER role on the Main contract to the spell.
  • Grant the TIMELOCK_ADMIN_ROLE on the Timelock contract to the spell.
  1. Execute Spell:
  • Call spell.castSpell with the and as parameters to initiate the upgrade.

Implementation Steps

  1. Preparation:
  • Complete the audit for the 3.4.0 release.
  • Gather required addresses (<0xCb327b99fF831bF8223cCEd12B1338FF3aA322Ff>, <0xB05C6a7242595f2E23CC6a0aB20699d63D0939Fd>).
  1. Proposal Creation:
  • Create a proposal on Tally with the specified calls.
  • Review the proposal with the community for feedback.
  1. Community Approval:
  • Engage with the community to discuss and vote on the proposal.
  • Address concerns or questions during the discussion.
  1. Execution:
  • Upon approval, execute the upgrade spell.
  • Monitor the upgrade process to ensure a smooth transition.

Conclusion/Next Steps

This RFC aims to begin a discussion on the pros and cons of upgrading the bsdETH contract to the 3.4.0 release of the Reserve Protocol. Huge thanks to the Reserve team for their hard work in delivering for our communities, allowing us to make these decisions autonomously. We now invite the bsdETH community to take the following actions:

  1. Review Upgrade: Governors should review the proposed upgrades carefully, ensuring they understand and agree on each step.
  2. Discuss Proposal: Governors are encouraged to express any concerns, queries, or suggestions related to this upgrade. Do not hesitate to contact myself or other team members (here or on Discord) for support or clarification.
  3. IP Upgrading bsdETH Contracts: If the community agrees with the proposed changes, an IP will be released to upgrade the contracts upon the official release of 3.4.0. Governors may proceed to use the Upgrade Helper on Register (soon to be live), which encodes the present instructions.
  • I am in favor of upgrading the bsdETH contracts to Release 3.4.0
  • I am not in favor of upgrading the bsdETH contracts to Release 3.4.0
0 voters
1 Like