Proposal For distribution of code for proposal 3568 (for the 1.2% burn) and for 4095 (re-enable delegation and staking)

Governance & Proposals
1

Summary
This proposal gives governance, which includes validators, a path for distribution of code that has been developed for proposal 3568 (for the 1.2% burn) and for 4095 (re-enable delegation and staking) - both of which passed governance votes. This proposal only deals with the distribution of the code, and the code itself, and a security proposal regarding code for 4095.

Proposal
Disclaimer: While I have contributed to aspects of the Terra Rebels community, this proposal is being submitted personally as a fellow member of the Terra v1 governance community.

Proposal Description:
In accordance with Terra governance, this proposal is being created to distribute code for proposal 3568 (for the 1.2% burn) and for 4095 (re-enable delegation and staking). The Terra v1 governance community (which includes validators) must decide the appropriate trusted distribution path for the code for these two proposals. This proposes the following distribution path, for this code listed in these repositories:

Minus any minor adjustments to blockheight to meet agreements stated in proposal 4095, or any minor adjustments required for due diligence review, rework, or testing on the part of an independent reviewer.

The code being proposed (minus any minor adjustments) can be seen below:

It is proposed that TFL either develop a novel solution or support the proposed implementation of proposal 3568 and 4095:

  • If TFL does not provide any communication, and does not merge, build, and distribute the code in support of 3568 and 4095 in 10 business days from the time this proposal may pass governance

Else It is proposed that,

The following outlined steps were done to ensure due diligence for code review, security, and testing:

  • Review:

  • Testing:

    • PASSED - Unit Testing of the uLuna Denom Tax
    • PASSED - Unit Testing of the Burn AnteHandler
    • PASSED - Integration Testing of the 3568 and 4095 on TestNet
    • PASSED - Upgrade Testing of 3568 and 4095 on TestNet
    • Full details of the code (minus any minor adjustments allowed for in this proposal) and testing results can be found in the Terra Rebel’s white paper:

  • Security:

    • In addition to security related aspects in independent review, and testing: In consultation with the concerns of the community and validators, the following was added to the code for 4095, which although meets the essence of 4095, provides strengthened security:

      • Given the imbalance of community-owned Luna and the staked Luna, a 2/3 attack is plausible when delegation and staking are re-enabled. This attack is mitigated in two ways. First, delegation is opened up to existing validators in the first 60 days. An attack in this time period could only come from the existing validators, who have already demonstrated their commitment to faithfully running the chain.

      • Further, a security measure is implemented within the Delegate command that computes whether or not any transaction will increase a validator’s voting power over a certain limit ( it is proposed that no validator should achieve more than 25% of the voting power). If the limit is exceeded, the delegation command will fail. This security measure will also be in place for the first 60 days.

It is proposed that code added for 4095, which although meets the essence of 4095, and provides for preventative security be approved:

  • That no validator should achieve more than 25% of the voting power for the first 60 days

If this proposal should pass, @ek826 mentioned that the block height for the activation of 3568 and 4095 is 8,890,141, approximately August 12, 2022. This blockheight is subject to change if required by validator adoption or independent review.

Note:
The proposal is open for discussion, and will be submitted in 3 days

77 Likes
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Thank you! Looking forward to comments, suggestions, and questions!

47 Likes
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Thank you team!
We have come a long way.

11 Likes
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Thank you Terra Rebels!

9 Likes
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Good job :pray:

5 Likes
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Good Job! Thank you Terra Rebels :blush:

5 Likes
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Thank you Terra Rebels

3 Likes
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Congtrats Terra Rebels Team and a special thanks to ek826. It’s a amazing work.

15 Likes
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Thanks, full support!

5 Likes
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Excellent!!! Let’s get all the validators onboard to pass this proposal. Let’s apply pressure, without annoyance which can do more harm than good.

3 Likes
11

thank you terra ReBels

1 Like
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I celebrate you sir

1 Like
13

Great job and thank you for all the hard work.

3 Likes
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Thank you for your excellent work, this great operation can help us all out of the mud, full support and thanks again for all your efforts!

3 Likes
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It is fair to note as well (since it was mentioned to me as a comment), that:

  • This proposal does include a preventative security measure (mentioned in the description - near the bottom); and
  • Although this proposal distributes the code for the 1.2% portion of proposal 3568 (for the Terra v1 blockchain), that code relies upon keys within a parameter that is stored on the blockchain itself. For this reason, this portion of the code will be dormant until a parameter proposal is submitted and passed (since the system requires a parameter proposal to change the parameters on the blockchain - if this proposal passes, and once the code is distributed).
6 Likes
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我是来自大陆地区的支持者，我们是terra的粉丝，都支持LUNC能重回神坛。加油:muscle::muscle:

1 Like
17

Well done to everyone involved for helping the community reach this pivotal moment in time.
One question if you may (@ek826 this might be yours more than @aeuser999 so please weigh in):
Are there any additional parameters in the 3568 implementations that would allow the community to fine-tune the 1.2% value at a future time if deemed necessary, assuming said proposal was voted for?

3 Likes
18

let’s try,

enough cowards in this ecosystem…

1 Like
19

such a big effort from ek826 and team well done! shame DK shows no interest in helping lunc

6 Likes
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Good Work :+1:

4 Likes