Currently, we rely on RP's minimum collateral level to revert when creating a new minipool.
However, Constellation should be able to enforce its own minimum collateralization level for RPL to protect the returns for xRPL no matter what RP's minimum level is set to.
Therefore, we need to add a new protocol parameter, OperatorDistributor.minimumRPLCollateral, which defaults on deployment to the minimum level of collateral as defined by the RP contracts. The admin should be able to adjust this parameter with no timelock, and before a minipool is created, it should check to see if the new RPL collateralization ratio on the node would drop too low and revert if so.
VVander
commented
2 months ago
Currently, we rely on RP's minimum collateral level to revert when creating a new minipool.
However, Constellation should be able to enforce its own minimum collateralization level for RPL to protect the returns for xRPL no matter what RP's minimum level is set to.
Therefore, we need to add a new protocol parameter,
OperatorDistributor.minimumRPLCollateral, which defaults on deployment to the minimum level of collateral as defined by the RP contracts. The admin should be able to adjust this parameter with no timelock, and before a minipool is created, it should check to see if the new RPL collateralization ratio on the node would drop too low and revert if so.