Executive summary
In this proposal, we’re seeking DAO approval to remove previous Ethereum and Gnosis Chain factories from the VaultRegistry contracts on both chains, remove the Eden Network relay from the list of approved relays for the smoothing pool, and reduce the default Aave borrow LTV in Boost by 0.0000001% fix a rounding error that prevents users from depositing less than 0.06 osETH into Boost. These changes are part of the upgrade deployment routine, can be considered administrative, and do not introduce changes in the protocol logic or new contracts.
Motivation
-
The recent release of Vaults v4 means that the previous VaultFactory.sol contract carrying v3 code is obsolete, and hence should be removed from the VaultsRegistry.sol contract to prevent users from deploying new Vaults using an outdated version. As a result, we seek to remove previous factories from the Registry contract on both Ethereum and Gnosis Chain.
-
StakeWise Oracles have a pre-programmed list of approved relays for use in the Smoothing Pool. One of them, Eden Network, has been replaced by Titan Relay a while back, which itself has also been included in the list of supported relays by StakeWise. Hence, having Eden Network in the list is redundant and we’re seeking its removal.
-
Recent changes in the Aave smart contracts have caused rounding errors in the Boost strategy that emerge for new deposits less than 0.06 osETH, causing deposit transactions to fail. As a remedy, we’re seeking to reduce the LTV used by Boost for borrowing on Aave to 92.9999998% (from 92.9999999995%). Note that this change only applies to new deposits, and neither existing nor new Boost users are expected to trigger any updates on their end.
Specification
Remove factories on Ethereum mainnet
[
{
“data”: “0x4b37c73f000000000000000000000000df82e5d27e175618e5bc4581ee336f59adabfbb2”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0xDF82E5D27E175618e5bC4581ee336F59AdabfBB2”],
“to”: “0x3a0008a588772446f6e656133C2D5029CC4FC20E”,
“value”: “0.0”
},
{
“data”: “0x4b37c73f00000000000000000000000080fc05f62c35c1b1361bc8908ea0af06c510d390”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0x80fC05f62C35C1b1361bc8908ea0aF06C510D390”],
“to”: “0x3a0008a588772446f6e656133C2D5029CC4FC20E”,
“value”: “0.0”
},
{
“data”: “0x4b37c73f0000000000000000000000008b6c2c9e09c6022780d164f3cfd882808b8bdbf0”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0x8b6c2C9E09c6022780D164F3cFd882808b8bDBF0”],
“to”: “0x3a0008a588772446f6e656133C2D5029CC4FC20E”,
“value”: “0.0”
},
{
“data”: “0x4b37c73f000000000000000000000000978302cacadede5d503390e176e86f3889df6ce6”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0x978302cAcAdEDE5d503390E176e86F3889Df6Ce6”],
“to”: “0x3a0008a588772446f6e656133C2D5029CC4FC20E”,
“value”: “0.0”
},
{
“data”: “0x4b37c73f000000000000000000000000291fa5849215847081b475450cbe5de46cfd4fae”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0x291Fa5849215847081B475450cBE5De46CfD4fAE”],
“to”: “0x3a0008a588772446f6e656133C2D5029CC4FC20E”,
“value”: “0.0”
},
{
“data”: “0x4b37c73f000000000000000000000000e487eddb7c5802e416385544f0a6a4426af4ae87”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0xe487EDDB7C5802e416385544f0A6a4426AF4AE87”],
“to”: “0x3a0008a588772446f6e656133C2D5029CC4FC20E”,
“value”: “0.0”
}
]
Remove factories on Gnosis Chain
[
{
“data”: “0x4b37c73f000000000000000000000000c2ecc7620416bd65bfab7010b0db955a0e49579a”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0xC2ecc7620416bd65bfab7010B0db955a0e49579a”],
“to”: “0x7d014B3C6ee446563d4e0cB6fBD8C3D0419867cB”,
“value”: “0.0”
},
{
“data”: “0x4b37c73f000000000000000000000000574952ec88b2fc271d0c0db130794c86ea42139a”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0x574952EC88b2fC271d0C0dB130794c86Ea42139A”],
“to”: “0x7d014B3C6ee446563d4e0cB6fBD8C3D0419867cB”,
“value”: “0.0”
},
{
“data”: “0x4b37c73f00000000000000000000000078fbfbd1dd38892476ac469325df36604a27f5b7”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0x78FbfBd1DD38892476Ac469325df36604A27F5B7”],
“to”: “0x7d014B3C6ee446563d4e0cB6fBD8C3D0419867cB”,
“value”: “0.0”
},
{
“data”: “0x4b37c73f000000000000000000000000f6bbbc05536ab198d4b7ab74a93f8e2d4cad5354”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0xF6BBBc05536Ab198d4b7Ab74a93f8e2d4cAd5354”],
“to”: “0x7d014B3C6ee446563d4e0cB6fBD8C3D0419867cB”,
“value”: “0.0”
},
{
“data”: “0x4b37c73f00000000000000000000000048319f97e5da1233c21c48b80097c0fb7a20ff86”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0x48319f97E5Da1233c21c48b80097c0FB7a20Ff86”],
“to”: “0x7d014B3C6ee446563d4e0cB6fBD8C3D0419867cB”,
“value”: “0.0”
},
{
“data”: “0x4b37c73f00000000000000000000000099e4300326867fe3f97864a74e500d19654c19e9”,
“method”: “removeFactory(address)”,
“operation”: “0”,
“params”: [“0x99E4300326867FE3f97864a74e500d19654c19e9”],
“to”: “0x7d014B3C6ee446563d4e0cB6fBD8C3D0419867cB”,
“value”: “0.0”
}
]
Remove Eden Network from supported relay list
[
{
“to”: “0x6B5815467da09DaA7DC83Db21c9239d98Bb487b5”,
“operation”: “0”,
“value”: “0.0”,
“data”: “0x8a76984d0000000000000000000000000000000000000000000000000000000000000020000000000000000000000000000000000000000000000000000000000000002e516d5a3558325432674b386d455236565467556a67774e4d7861414736613177565954487a58574c727a52784178000000000000000000000000000000000000”,
“method”: “updateConfig(string)”,
“params”: [“QmZ5X2T2gK8mER6VTgUjgwNMxaAG6a1wVYTHzXWLrzRxAx”]
}
]
Reduce Boost strategy LTV on Aave
[
{
“to”: “0x90b82E4b3aa385B4A02B7EBc1892a4BeD6B5c465”,
“operation”: “0”,
“value”: “0.0”,
“data”: “0x0869ddd38b74cefe9f33d72ccd3521e6d331272921607e547c75c914c2c56cfdad9defed000000000000000000000000000000000000000000000000000000000000006000000000000000000000000000000000000000000000000000000000000000a000000000000000000000000000000000000000000000000000000000000000136d6178426f72726f774c747650657263656e740000000000000000000000000000000000000000000000000000000000000000000000000000000000000000200000000000000000000000000000000000000000000000000ce8061221e76c00”,
“method”: “setStrategyConfig(bytes32,string,bytes)”,
“params”: [
“0x8b74cefe9f33d72ccd3521e6d331272921607e547c75c914c2c56cfdad9defed”,
“maxBorrowLtvPercent”,
“0x0000000000000000000000000000000000000000000000000ce8061221e76c00”
]
}
]
Considerations
These changes are purely administrative and do not introduce new logic or contracts to the StakeWise protocol. Requested changes are within the scope of previously audited codebase. Find the full list of audits here: v3-core/audits at main · stakewise/v3-core · GitHub
Discussion & voting
The Snapshot for this SWIP is live: [link]
Please leave feedback and any comments you might have below, and we’ll gladly address them.