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Mainnet Spell 2024-11-14 #439
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@@ -626,22 +674,37 @@ contract DssSpellTest is DssSpellTestBase { | |||
int256 sky; | |||
} | |||
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function testPayments() public skipped { // add the `skipped` modifier to skip | |||
function testPayments() public { // add the `skipped` modifier to skip | |||
bool ignoreTotalSupplyDaiUsds = true; // Set to false unless there is SubDAO spell interference |
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This is actually needed not only because there is about ~9m USDS that is minted by the Spark spell, thanks to the new allocator system onboarded last time. But also due to the sUSDS.drip()
call which changes the USDS total supply and MIP21_LIQUIDATION_ORACLE.cull
which changes surplus buffer balance.
All in all, it's very hard to account for those changes in the tests and I'm fine to just ignore the total change for now, once this happens. Manually checked that it matches when the mentioned calls are removed
TL/DR: Good to deploy Mainnet Executive Spell Review ChecklistDevelopment Stage
Pre-Deployment Stage
Proposal DetailsStability Fee Increases
If this executive proposal passes, then the following Stability Fee increases will take place:
Savings Rate Increases
If this executive proposal passes, the then following savings rate increases will take place:
Due to how the SparkLend DAI Interest Rate Model (IRM) functions, this will also results in an approximately 2 percentage point increase in the SparkLend Effective DAI Borrow Rate. Sky Ecosystem Liquidity Bootstrapping Funding
If this executive proposal passes, then 4 million USDS will be transferred to the Sky Ecosystem Liquidity Bootstrapping multisig at 0xD8507ef0A59f37d15B5D7b630FA6EEa40CE4AFdD. To facilitate the transfer of USDS the following actions will occur:
Integration Boost Funding
If this executive proposal passes, then 3 million USDS will be transferred to the Sky Ecosystem Integration Boost multisig at 0xD6891d1DFFDA6B0B1aF3524018a1eE2E608785F7. To facilitate the transfer of USDS the following actions will occur:
SparkLend Buffer Increase
If this executive proposal passes, then the DIRECT-SPARK-DAI ( Gelato Keeper Treasury Address Update
If this executive proposal passes, then the Gelato Keeper Treasury address will be updated to 0x5041c60C75633F29DEb2AED79cB0A9ed79202415. ConsolFreight (RWA-003) Debt Write-Off and Associated DAO Resolution Approval
If this executive proposal passes, then the following actions will take place. Debt Write-offIf this executive proposal passes, the outstanding debt of the RWA-003 vault will be written off by calling Please review this forum post from Steakhouse for the particulars of the events leading to this action. DAO Resolution ApprovalIf this executive proposal passes, the DAO Resolution with the IPFS hash QmX4DdVBiDBjLXYT4J4jC1XMdTn2Q7Ao8L66pKB8N3yETA will be approved. This will authorize RWA Foundation to receive any recovered funds from ConsolFreight and to use them to fund operational expenses. Facilitator Vesting Stream Creation
If this executive proposal passes, the following vesting streams will be created. Note that DssVestSuckable for USDS and DSSVestTransferrable for SKY are not yet available. As a result, short streams for equivalent values of DAI and MKR are used. It is hoped that by the end of January, when these streams expire, it will be possible to switch the streams for these budgets to USDS and SKY, as detailed in The Atlas. DAI Streams
MKR Streams
Aligned Delegate Compensation for September 2024
If this executive proposal passes, then a total of 308,548 DAI and 87.09 MKR will be distributed as Aligned Delegate compensation for September 2024, as detailed below. Note that these payments mark the transition to a new payment system. They are still denominated in DAI and MKR, the stated currencies in The Atlas at the time these payments were earned. These payments will empty out the now defunct DAI and MKR buffers and future payments will be made in USDS, as stated in the updated Atlas. DAI Payments
MKR Payments
Spark Proxy SpellIf this executive proposal passes, then the Spark Proxy Spell prepared by Phoenix Labs and reviewed by Wintermute and Certora at 0x8a3aaeAC45Cf3D76Cf82b0e4C63cCfa8c72BDCa7 will be executed. The expected inclusions are:
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TLDR: good to deploy Development Stage
Pre-Deployment Stage
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TLDR: Good to deploy Pre-Deployment Stage
Proposal DetailsStability Fee Increases
If this executive proposal passes, then the following Stability Fee increases will take place:
Savings Rate Increases
If this executive proposal passes, the then following savings rate increases will take place:
Due to how the SparkLend DAI Interest Rate Model (IRM) functions, this will also results in an approximately 2 percentage point increase in the SparkLend Effective DAI Borrow Rate. Sky Ecosystem Liquidity Bootstrapping Funding
If this executive proposal passes, then 4 million USDS will be transferred to the Sky Ecosystem Liquidity Bootstrapping multisig at 0xD8507ef0A59f37d15B5D7b630FA6EEa40CE4AFdD. To facilitate the transfer of USDS the following actions will occur:
Integration Boost Funding
If this executive proposal passes, then 3 million USDS will be transferred to the Sky Ecosystem Integration Boost multisig at 0xD6891d1DFFDA6B0B1aF3524018a1eE2E608785F7. To facilitate the transfer of USDS the following actions will occur:
SparkLend Buffer Increase
If this executive proposal passes, then the DIRECT-SPARK-DAI ( Gelato Keeper Treasury Address Update
If this executive proposal passes, then the Gelato Keeper Treasury address will be updated to 0x5041c60C75633F29DEb2AED79cB0A9ed79202415. ConsolFreight (RWA-003) Debt Write-Off and Associated DAO Resolution Approval
If this executive proposal passes, then the following actions will take place. Debt Write-offIf this executive proposal passes, the outstanding debt of the RWA-003 vault will be written off by calling Please review this forum post from Steakhouse for the particulars of the events leading to this action. DAO Resolution ApprovalIf this executive proposal passes, the DAO Resolution with the IPFS hash QmX4DdVBiDBjLXYT4J4jC1XMdTn2Q7Ao8L66pKB8N3yETA will be approved. This will authorize RWA Foundation to receive any recovered funds from ConsolFreight and to use them to fund operational expenses. Facilitator Vesting Stream Creation
If this executive proposal passes, the following vesting streams will be created. Note that DssVestSuckable for USDS and DSSVestTransferrable for SKY are not yet available. As a result, short streams for equivalent values of DAI and MKR are used. It is hoped that by the end of January, when these streams expire, it will be possible to switch the streams for these budgets to USDS and SKY, as detailed in The Atlas. DAI Streams
MKR Streams
Aligned Delegate Compensation for September 2024
If this executive proposal passes, then a total of 308,548 DAI and 87.09 MKR will be distributed as Aligned Delegate compensation for September 2024, as detailed below. Note that these payments mark the transition to a new payment system. They are still denominated in DAI and MKR, the stated currencies in The Atlas at the time these payments were earned. These payments will empty out the now defunct DAI and MKR buffers and future payments will be made in USDS, as stated in the updated Atlas. DAI Payments
MKR Payments
Spark Proxy SpellIf this executive proposal passes, then the Spark Proxy Spell prepared by Phoenix Labs and reviewed by Wonderland and Certora at 0x8a3aaeAC45Cf3D76Cf82b0e4C63cCfa8c72BDCa7 will be executed.
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The spell was deployed to: https://etherscan.io/address/0xd442Ea4b93712762E337c1e15F367F0b1050fEa4 |
TLDR: Good to handover Deployed Stage
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TLDR: good to handover Deployed Stage
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Handover and Merge Stage
- Check that the spell address posted by the crafter in
new-spells
is correct - Confirm the address in the
new-spells
channel (via a separate "reply to" message, restating the address to avoid edits)- Wait until responsible governance facilitator confirms handover in
new-spells
- Wait until responsible governance facilitator confirms handover in
- Ensure that no changes were made to the code since the spell was deployed and archived
- Approve spell PR for merge via 'Approve' review option
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Handover and Merge Stage
- Check that the spell address posted by the crafter in
new-spells
is correct - Confirm the address in the
new-spells
channel (via a separate "reply to" message, restating the address to avoid edits)- Wait until responsible governance facilitator confirms handover in
new-spells
- Wait until responsible governance facilitator confirms handover in
- Ensure that no changes were made to the code since the spell was deployed and archived
- Approve spell PR for merge via 'Approve' review option
Description
This PR implements the 2024-11-14 mainnet spell based on the relevant exec sheet
Contribution Checklist
(PE-<TICKET_NUMBER>)
Checklist
officeHours
modifier override30 days
unless otherwise specified)ETH_GAS_LIMIT="XXX" ETH_GAS_PRICE="YYY" make deploy
mainnet
contract on etherscanmake archive-spell
ormake date="YYYY-MM-DD" archive-spell
to make an archive directory and copyDssSpell.sol
,DssSpell.t.sol
,DssSpell.t.base.sol
, andDssSpellCollateralOnboarding.sol
squash and merge
this PR