v1.1.0

Software Upgrade

PROPOSER: The KYVE Foundation ([email protected])

Proposal Summary

Recently, while undergoing an independent code review, we found a few non-critical issues. If passed, this software upgrade proposal would implement fixes and improvements to resolve these issues on the KYVE network. Additionally, if passed, token transfers via IBC would be enabled.

Proposal Details

A few non-critical issues were discovered while an independent code review was undertaken on KYVE's consensus codebase. This software upgrade includes fixes and improvements to all these issues. For a more detailed description of these changes, see this pull request.

Additionally, while monitoring the network after launch, the KYVE Development Team noticed that the vesting schedules of our investors that participated in our second funding round needed to be corrected. According to our tokenomics, the correct vesting schedule is a six-month cliff with two-year continuous vesting after. However, included in genesis was a schedule of a 1.5-year cliff with two-year continuous vesting after that. This software upgrade realigns these schedules.

Finally, to maximise security during our launch, the team decided to disable token transfers via IBC. This software upgrade enables sending and receiving of tokens.

For a more technically in-depth list of changes made in this release, please refer to the CHANGELOG file.

Upgrade Process

When the network reaches the defined upgrade height (826000), block production on the KYVE network will be halted. Block production will not resume until significant voting power has switched to the new release. Validators can either manually replace the old binary with the new one or utilise Cosmovisor to automate this process.

Voting Options

Voting YES

• A YES vote on this proposal indicated that the KYVE network SHOULD be upgraded; and that the validators should start running the
  v1.1.0
  release.

Voting NO

• A NO vote on this proposal indicated that the KYVE network SHOULD NOT be upgraded; and that the validators should continue running the current binary.

Voting NO WITH VETO

• A NO WITH VETO vote on this proposal indicates that the KYVE network SHOULD NOT be upgraded; and that the proposal depositors should be penalized.

Voting ABSTAIN

• An ABSTAIN vote on this proposal indicates that you decline to give a specific opinion on this proposal while maintaining active governance participation.

Conclusion

The forum discussion for this proposal can be found here.

This upgrade has been tested on the Kaon network (our testnet). You can find the proposal here.

Please note that this proposal follows a template that will later be finalised through a governance discussion around processes.