Summary
In this proposal, we propose to upgrade the Genesis Vault contract on Gnosis Chain to include GNO assets that have been accumulated in the V2 Pool Escrow in the withdrawableAssets calculation. This upgrade is necessary in order to swiftly process a large volume of withdrawal requests submitted on Gnosis following the V3 release last week.
Motivation
The long-awaited release of StakeWise V3 on Gnosis Chain last week has brought a flurry of withdrawal requests that we’d be keen to process as quickly as possible.
To speed up the processing of requests, we propose to include unbonded GNO from the V2 Pool Escrow in the calculation of the withdrawableAssets parameter of the Genesis Vault. This will allow StakeWise to utilize additional unbonded GNO to process withdrawals, skipping the exit queue in the Gnosis Beacon Chain.
As a result of this change, StakeWise will be able to support quick withdrawal for up to 40,000 GNO. Quickly processing these requests using unbonded GNO will allow us to move past the stage when users exit from the legacy product, and allow the Genesis Vault to quickly ramp up APY by staking the remaining GNO.
Specification
[
{
"to": "0x7d014B3C6ee446563d4e0cB6fBD8C3D0419867cB",
"operation": "0",
"value": "0.0",
"data": "0x4069139900000000000000000000000042aebbc34555e7d3249481305abe206e80c01c49",
"method": "removeVaultImpl(address)",
"params": [
"0x42Aebbc34555E7D3249481305aBe206E80C01C49"
]
},
{
"to": "0x7d014B3C6ee446563d4e0cB6fBD8C3D0419867cB",
"operation": "0",
"value": "0.0",
"data": "0xaff7947d0000000000000000000000005f9ee59ad0ecb38a2f584956286311796fed12c6",
"method": "addVaultImpl(address)",
"params": [
"0x5f9ee59Ad0ECb38A2F584956286311796fED12C6"
]
}
]
Discussion & voting
Due to the time-sensitive nature of the withdrawals topic, the voting period has been set to 24 hours. Vote Yes if you support this proposal.
As always, please leave your questions and comments in this post if you have them.
The Snapshot is now live: