Skip to content

Commit

Permalink
Sccp 2051 / SIP 2036 (#1718)
Browse files Browse the repository at this point in the history
* update headers

* Create sccp-2051.md

* Update sccp-2051.md

* Update sccp-2051.md

* Update sccp-2051.md

* Update sccp-2051.md

* Update sccp-2051.md

* Update sccp-2051.md

* Create sip-2036.md

* Update sip-2036.md

* Update sip-2036.md

* typo fixes
  • Loading branch information
kaleb-keny authored Oct 13, 2023
1 parent d290188 commit c0d739f
Show file tree
Hide file tree
Showing 3 changed files with 97 additions and 1 deletion.
4 changes: 3 additions & 1 deletion content/sccp/sccp-2050.md
Original file line number Diff line number Diff line change
Expand Up @@ -3,8 +3,10 @@ sccp: 2050
network: Optimism
title: Update Perps V2 Parameters
author: Kaleb (@kaleb-keny)
status: Vote_Pending
status: Implemented
created: 2023-10-10
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0x054b037ab40502146525c3de844ef9859718338f034c3cde29bf3000d6099314
type: Governance
---

Expand Down
27 changes: 27 additions & 0 deletions content/sccp/sccp-2051.md
Original file line number Diff line number Diff line change
@@ -0,0 +1,27 @@
---
sccp: 2051
network: Optimism
title: Temporarily Boost Optimism's Inflation
author: Kaleb (@kaleb-keny)
status: Vote_Pending
created: 2023-10-12
type: Governance
---

# Simple Summary

This SCCP proposes to boost L2's rewards by `130,178` snx during the minting week starting the 16th of October and reverting that increase back to its original state in the subsequent week.

# Abstract

The following contract calls would be invoked in order to temporarily boost rewards for L2 stakers:
- `RewardsDistribution.editRewardDistribution` permits the configuration of the snx distribution to l2 stakers from the weekly mint.
- `SupplySchedule.setInflationAmount` permits the configuration of the weekly inflation mint amount.

# Motivation

The main motivation is to compensate L2 stakers for the missed inflationary rewards during the week of the 9th of October. This was due to an insufficient gas reversion [L1 minting transaction](https://etherscan.io/tx/0x9db69f2f9d9782e003eae79da083088355d2729a123e3897bf5a3f1a46072832) in the weekly inflation print transaction. A more holistic fix would be proposed in [sip-2036](https://sips.synthetix.io/sips/sip-2036) that aims at preventing a similar situation from occurring.

# Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
67 changes: 67 additions & 0 deletions content/sips/sip-2036.md
Original file line number Diff line number Diff line change
@@ -0,0 +1,67 @@
---
sip: 2036
title: Revert Inflation Mint on L2 Distribution Failure
network: Optimism
status: Draft
type: Governance
author: Kaleb (@kaleb-keny), DB (@dbeal-eth)
created: 2023-10-12
---

<!--You can leave these HTML comments in your merged SIP and delete the visible duplicate text guides, they will not appear and may be helpful to refer to if you edit it again. This is the suggested template for new SIPs. Note that an SIP number will be assigned by an editor. When opening a pull request to submit your SIP, please use an abbreviated title in the filename, `sip-draft_title_abbrev.md`. The title should be 44 characters or less.-->

## Simple Summary

<!--"If you can't explain it simply, you don't understand it well enough." Simply describe the outcome the proposed changes intends to achieve. This should be non-technical and accessible to a casual community member.-->

This sip proposes to incorporate a reversion into the weekly inflation mint, if the weekly distribution to L2 stakers fails.

## Abstract

<!--A short (~200 word) description of the proposed change, the abstract should clearly describe the proposed change. This is what *will* be done if the SIP is implemented, not *why* it should be done or *how* it will be done. If the SIP proposes deploying a new contract, write, "we propose to deploy a new contract that will do x".-->

The `RewardsDistribution` contract currently ignores errors when it attempts to send out the configured snx distributions. This leads to a situation, where the L2 supply is minted and is not relayed to L2, due to insufficient gas. This SIP incorporates a revert into the `RewardsDistribution` contract in case the relay to optimism fails.

## Motivation

<!--This is the problem statement. This is the *why* of the SIP. It should clearly explain *why* the current state of the protocol is inadequate. It is critical that you explain *why* the change is needed, if the SIP proposes changing how something is calculated, you must address *why* the current calculation is innaccurate or wrong. This is not the place to describe how the SIP will address the issue!-->

In reference to [SCCP-2051](https://sips.synthetix.io/sccp/sccp-2051), as can be seen in the [minting transaction](https://etherscan.io/tx/0x9db69f2f9d9782e003eae79da083088355d2729a123e3897bf5a3f1a46072832) the inflation destined for L2 were printed, but were never relayed over to optimism. This is because of a check by the optimism's [ResourceMetering.sol](https://github.com/ethereum-optimism/optimism/blob/ac2df11b30aca5cb95fc823ddc8966bd1a570c0e/packages/contracts-bedrock/src/L1/ResourceMetering.sol#L144) that asserts that a transaction's gas limit exceeds a minimum, the latter depends on the length of the contract call.

This SIP proposes to incorporate a revert, that throws the entire minting transaction in case the distribution of rewards to L2 stakers fails. Hence, keeper would be incentivized to boost the gas limit to the point where the transaction doesn't revert in order to earn the subsidized 100 snx per week in keeping fee.

## Specification

<!--The specification should describe the syntax and semantics of any new feature, there are five sections
1. Overview
2. Rationale
3. Technical Specification
4. Test Cases
5. Configurable Values
-->

Pending


### Technical Specification

<!--The technical specification should outline the public API of the changes proposed. That is, changes to any of the interfaces Synthetix currently exposes or the creations of new ones.-->

Pending

### Test Cases

<!--Test cases for an implementation are mandatory for SIPs but can be included with the implementation..-->

In case the distribution of rewards to L2 stakers fails, the entire `Synthetix.mint()` should revert.


### Configurable Values (Via SCCP)

<!--Please list all values configurable via SCCP under this implementation.-->

None

## Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).

1 comment on commit c0d739f

@vercel
Copy link

@vercel vercel bot commented on c0d739f Oct 13, 2023

Choose a reason for hiding this comment

The reason will be displayed to describe this comment to others. Learn more.

Please sign in to comment.