cygnusv
commented
10 months ago We will execute the script @r-czajkowski prepared one more time to snapshot the addresses of legacy KEEP stakers.
Snapshot pulled from Threshold subgraph on November 8th, 2023 by @manumonti. This also include authorization amounts:
- Legacy KEEP stakers: https://gist.github.com/manumonti/20bec6137e07c55824059e07f77cdade
- Legacy NU stakers: https://gist.github.com/manumonti/a70d1d46b7cfe6de9507328ff5904348
It would be interesting to run @r-czajkowski's script too, just in case.
We will ensure none of those stakers are tBTC v2 beta stakers.
Confirmed that no beta staker is a legacy KEEP or NU staker.
We will modify the script calculating rewards to have a special path for the addresses from this list: take into account the amount from KeepTokenStaking.getDelegationInfo and the amount staked in T in the Threshold TokenStaking contract instead of looking at the AuthorizedIncreased / AuthorizationDecreased events.
This is not a blocker for the upgrade and can be done in parallel. Opened https://github.com/threshold-network/merkle-distribution/issues/95 to track this.
At the same time, we will deploy an update to Threshold TokenStaking contract to drop the support for KEEP legacy stakes and set KEEP legacy stake for those addresses to 0.
See #153. Please review ASAP @lukasz-zimnoch @pdyraga
We will keep this logic in the reward calculation script for 3 months. tBTC v2 authorization decrease delay is 45 days and KEEP staking undelegation period is 2 months. Given we drop functions like notifyKeepStakeDiscrepancy from Threshold Staking contract, KEEP stakers can undelegate their tokens from KEEP staking contract right away. We will give them one additional month to wrap their KEEP to T and top-up stakes before we remove the special path from the reward calculation script. This approach allows investing the minimum dev time needed but requires very clear communication and community alignment so that all KEEP legacy stakers understand what is going to happen and what they should do.
cc @manumonti @dimpar @lukasz-zimnoch
Before moving forward with this proposal we MUST confirm how many stakers from the list stake from grants and what is the remaining vesting time for them. We can bypass the problem by adding a stake weight offset in the reward calculation script until their tokens are vested.
KEEP team is better positioned for this @lukasz-zimnoch @pdyraga
lukasz-zimnoch
manumonti
Goal
KEEP x NU merge proposal requirement was to keep support for legacy KEEP and NU stakes so that no one was left behind. Threshold
TokenStakingcontract has respected this requirement since the very first version deployed in Feb 2022. Unfortunately, this code has a lot of complexity and is often holding us back.This issue aims at eliminating KEEP legacy stake support without leaving any stakers without rewards they are eligible for.
The current state
@r-czajkowski prepared a script checking how many legacy KEEP stakers are in the Threshold Staking contract.
There are 30 legacy KEEP stakes.
8 of them have total stake amount in T equal to 0 and all of them have already undelegated their stakes in KEEP token staking contract. Here are the 8 staking providers:
So we actually have 22 active legacy KEEP stakes in Threshold.
Here is the full list:
Proposition
We will execute the script @r-czajkowski prepared one more time to snapshot the addresses of legacy KEEP stakers. We will ensure none of those stakers are tBTC v2 beta stakers.
We will modify the script calculating rewards to have a special path for the addresses from this list: take into account the amount from
KeepTokenStaking.getDelegationInfoand the amount staked in T in the ThresholdTokenStakingcontract instead of looking at theAuthorizedIncreased/AuthorizationDecreasedevents.At the same time, we will deploy an update to Threshold
TokenStakingcontract to drop the support for KEEP legacy stakes and set KEEP legacy stake for those addresses to 0.We will keep this logic in the reward calculation script for 3 months. tBTC v2 authorization decrease delay is 45 days and KEEP staking undelegation period is 2 months. Given we drop functions like
notifyKeepStakeDiscrepancyfrom Threshold Staking contract, KEEP stakers can undelegate their tokens from KEEP staking contract right away. We will give them one additional month to wrap their KEEP to T and top-up stakes before we remove the special path from the reward calculation script.This approach allows investing the minimum dev time needed but requires very clear communication and community alignment so that all KEEP legacy stakers understand what is going to happen and what they should do.
Outstanding work
Staking with the legacy KEEP staking contract allows using the entire stakeahead for KEEP grantees. Some grantees may not be able to withdraw liquid tokens. As a result, their stake weight may be lower.
Before moving forward with this proposal we MUST confirm how many stakers from the list stake from grants and what is the remaining vesting time for them. We can bypass the problem by adding a stake weight offset in the reward calculation script until their tokens are vested.