This proposal, if accepted, will upgrade the chain to Orion. This upgrade includes one major and several minor changes:
Upgrade Cosmos SDK to v0.45.13 - the current version the Cosmos Hub is on.
Fees collected when sending tokens to Ethereum are being moved later in the transaction processing stage, meaning that the chain fee will only be collected if your message is successful.
Cross-Bridge Balance Monitoring: This end-to-end balance monitoring mechanism will improve bridge security without imposing daily limits. In short, the changes add a governance-controlled list of ERC20 tokens to monitor and introduce an additional balance monitoring responsibility for Orchestrators. Balance Monitoring improves bridge security with some of the advantages that limits provide, like detecting unexpected attacks, but without the disadvantages of a fixed limit. The tradeoff for this is an increased chance of chain halt. This feature only monitors specific tokens, if governance chooses to monitor an ERC20 token which rebases balances or modifies the balance of Gravity.sol, it will cause a spurious chain halt. The chain can simply be resumed without monitoring that token, but governance should use caution when selecting tokens to add to the monitoring list.
In addition to the ERC20 balance monitoring, the Cosmos side of the bridge will get enhanced monitoring every time an Ethereum event is processed and expose all of the relevant bridge balances as snapshots via a gRPC query endpoint. The list of ERC20s which Orchestrators will be required to monitor must be decided by a governance vote after the Orion upgrade.
