Proposal Details

Proposal #982

Passed

Proposal title

Update admin address on Vortex smart contract instances

Submit time

Deposit end time

Voting start time

Voting end time

Tally result

92.49%

Proposal #982 description

Find the forum post here: https://forum.osmosis.zone/t/set-admin-address-on-vortex-smart-contract-instances/3889

OVERVIEW The Hydro Team deployed its first instance of Vortex as a first test of the mechanism on 18th of August. Vortex contracts wrap an LP position on Osmosis to allow one side of the LP position to serve as a collateral on the other side.

During this test run, an issue in the smart contract around tokens with 18 decimals was discovered, which prevents withdrawals.

This proposal seeks to update the admin address of the two currently live Vortex smart contract instances to the contracts position admin address in order to facilitate a mitigation of the problem. This new admin address is the Osmosis cross-chain address of the Hydro committee DAO.

These contract instances currently have no admin address. There is a “position admin address” in the contract state, which allows managing some aspects of the contracts, but doesn’t allow for contract migrations, so is not sufficient to solve the issue.

Vortex contracts are designed to be ephemeral. After the admin change has been performed and the withdrawals are successful, the contract instances will not be used further. For future instances, we will mitigate the concrete issue by deploying fixed contract code which can deal with 18 decimal tokens. Additionally, we will set the contract admin address to the Hydro committee multisig in order to be able to migrate the contracts in case there are further similar problems.

Smart contract instances: https://www.mintscan.io/osmosis/wasm/contract/osmo16cuqr48efufwf78gfk2yfjs08av5levpe4ge2zynrkrxu98gn2zs7r9jh4 https://www.mintscan.io/osmosis/wasm/contract/osmo12fx08698ydqkzy687w4ce4qut80tx287dz8qadu8wy0hv9yllt3qgt2t35

You can check the position admin address on the smart contract instances by viewing the state, e.g. see https://www.mintscan.io/osmosis/wasm/contract/osmo16cuqr48efufwf78gfk2yfjs08av5levpe4ge2zynrkrxu98gn2zs7r9jh4?sector=states

New admin address: https://www.mintscan.io/osmosis/address/osmo1cuwe7dzgpemwxqzpkhyjwfeev2hcgd9de8xp566hrly6wtpcrc7qgp9jdx

You can double-check the Osmosis address of the Hydro committee here: https://daodao.zone/dao/neutron1w7f40hgfc505a2wnjsl5pg35yl8qpawv48w5yekax4xj2m43j09s5fa44f/treasury

Proposal #982 overview

Total votes
2,501
Voters
2,492
Total deposit
6,000 OSMO

Proposal #982 votes

#

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1PRO DelegatorsYes
2Stakewolle.com |100% InsuranceYes
3ValidatusYes
4TessellatedYes
5Swiss StakingYes
6S16 Research VenturesYes
7Everstake - DO NOT STAKEYes
8EthernodesYes
9OWALLETYes
10Chorus OneYes
11FreshSTAKINGYes
12KomikuriYes
130base.vcYes
14CrosnestYes
15Nansen | Stake to Stack PointsYes
16Cypher CoreYes
17node101Abstain
18ShapeShift DAOYes
19Leonoor's CryptomanYes
20AutoStake 🛡️ Slash ProtectedYes
21CosmostationYes
22ECO Stake 🌱 | REStake.appYes
23Stakely.ioYes
24Frens (🤝,🤝)Yes
25MeriaYes
26StakecitoYes
27DSRVAbstain
28Vitwit (Previously Witval)Yes
29KeplrYes
30GATA HUBYes
31PoS NodeYes
32Sr20deYes
33Cosmos Spaces ☮️💜⚛️Yes
34The_CyberneticsYes
35Lavender.Five Nodes 🐝Yes
36Atlas Staking (Autocompound Rewards)Yes
37VALIDARIOSYes
38Active NodesYes
39Silk NodesYes
4001nodeYes
41HighStakes.ch | Daily AirdropsYes
42PingYes
43Oldcat - airdrop DHK every monthYes
44DELIGHTYes
45Smart Stake 📈📊Abstain
46Bro_n_BroYes
47CryptoCrew Validators ✅Yes
48Trust NodesAbstain
49InteropAbstain
50Imperator.coYes
51Chandra StationYes
52Stake&Relax 🦥Yes
53polkachu.comYes
54Margined ProtocolYes
55CroutonDigitalYes
56POSTHUMAN 🧬 StakeDropYes

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