cw-plus-800m

This repository is a stripped down version of cw-plus that only contains a modified cw3 contract. The modifications consist of the following bullet points:

• The instantiation endpoint has been disabled to prevent new contracts to be created from this code
• The execution and migration endpoint execute an handler that burns the contracts USTC balance.

Use Case

This code is to be used to migrate the 800m multisig contract/wallet terra1qyw695vaxj7jl6s4u564c6xkfe59kercg0h88w on Terra Classic to a new code version via contract migration proposal. Upon passing of the migration proposal the cw3 wallet in question will effectively

• be blacklisted (as per proposal 11832) and
• the 800m ustc balance will be burned (as per proposal 11660 and 11710)

Immutability

This code does not alter the state of the blockchain. It is going to be compiled to a wasm binary that will be uploaded to the blockchain. A contract migration proposal for the cw3 contract in question is using stock governance tools without needing to alter the underlying code of the blockchain. The action performed with this code cannot be replicated on any arbitrary regular or multisig wallet and is therefore preserving immutability of the blockchain.

The 800m wallet happens to be a cw3 multisig because the multisig owners decided to go for a cw3 wallet instead of a regular one. Only because of this decision we are able to get access to the funds on that wallet and burn them through standard governance tools.

Verify On-Chain Binary

The verify.sh script is used to verify that the binary uploaded to the blockchain actually matches the build artifact that is generated by this repository. You'll need the tools jq, shasum, curl, base64 as well as docker installed on your machine and run the script:

$ ./verify.sh`
...
Downloaded SHA:     f5489796b14791c2a4e385cd2d8aa6169032359c08cbc39b9b63067586747ff0
Local Built SHA:    f5489796b14791c2a4e385cd2d8aa6169032359c08cbc39b9b63067586747ff0

Both displayed hashes at the end of the output stream should match.

Note, that the binary has been built on an amd64/linux machine.

Testnet Proposal Log

• Source Contract: terra1nfzhyl9n7p2werkvpeejf8xeru39zgcv76h0yvha3khegwlcqffsm8tu7e
• Code ID (Target Code): 917
• Code ID (Initial Code): 915
• Proposal ID: 45

Stats Before Proposal Passed:

• Balance: 10,000,000 USTC
• Total Supply (Feb. 13th 2024, 15:42 UTC): 99,717,975.696639 USTC

After proposal passed on Feb. 15th 21:42 UTC:

• Balance: 40 USTC
• Total Supply (Feb. 15th 2024, 22:56 UTC): 89,737,975.696639 USTC