The moment of truth: StakeWise V3 deployment on Gnosis Chain is nearly here, and now we need to approve some final contract changes before migration can go live.
In this proposal, we seek your approval to upgrade and pause different StakeWise V2 contracts on Gnosis Chain, so that a migration could be initiated.
As before, this upgrade will support stakers’ ability to move their assets from V2 to V3 in order to benefit from the new functionality available in StakeWise V3, including native unstaking. It will also keep the distribution of rewards in V2 intact to allow users to migrate at their own pace.
StakeWise V3 upgrade on Gnosis
As it stands, the StakeWise team is ready to release the successor to StakeWise V2 called StakeWise V3 - this time on Gnosis Chain 
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V3 is a liquid staking protocol that features a brand new, modular architecture that has seen great uptake on Ethereum mainnet so far - Vaults have been chosen to power MetaMask Pooled Staking, the whole ETH staking operation of our close operator partner, the staking needs of the Nexus Mutual DAO, and more. We are excited to finally deliver this architecture on Gnosis Chain, where V3 will introduce an overcollateralized LST called osGNO, and a staking marketplace where stakers can choose who runs their nodes, making Gnosis Chain more decentralized and resilient. Naturally, it also introduces all the long overdue features like withdrawals, rewards autocompounding, and permissionless participation in the protocol by home stakers and professional operators. In short, this is a whole package!
With the release of StakeWise V3 on Gnosis, existing stakers will not become users of the new protocol automatically. Instead, they will continue as users of the existing version (StakeWise V2), unless they manually migrate their stake to StakeWise V3. Once they migrate, they will become a part of the Genesis Vault, which is identical to the former StakeWise Pool in terms of the fees, operators and performance.
Executing the migration this way requires the StakeWise DAO to approve upgrades to the existing smart contracts and pause some others. In short:
- Transfer PoolEscrow ownership to GnoGenesisVault. PoolEscrow is currently used as the withdrawal address for StakeWise V2, and will collect GNO from the exited validators. This ownership transfer will allow the Genesis Vault to request GNO from PoolEscrow whenever users desire to unstake GNO or redeem osGNO.
- Upgrade V2 contracts: Oracles, Pool, RewardGnoToken, StakedGnoToken. The upgrades will allow sGNO and rGNO tokens to be burned, and let the new set of oracles control the update of rewards for those who continue to use StakeWise V2.
- Pause V2 contracts: PoolValidators, Pool. This will implement a freeze on new deposits into StakeWise V2, for obvious reasons.
- Transfer $24K of accumulated xDAI: the transfer will be made to the Genesis Vault admin, so that the team could swap it to GNO and transfer back to the PoolEscrow contract, which is under the control of the GenesisVault
Specification
See the transactions in the Snapshot below.
Considerations
Once the DAO votes on this proposal, we will collectively open the new chapter for StakeWise and Gnosis Chain, as users of both will gain access to a flagship staking product used by the best in the industry.
The proposed migration path has been audited by Sigma Prime, Halborn, and the auditors in the Hats contest. The results of all can be found here .
Vote
The Snapshot for this vote is now live and will be open for 24 hours. Click here to open: Snapshot.
LFG