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bDAI

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Will Ruddick 2020-07-18 05:19:34 +00:00
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spec/002_dai_reserve_migration.md
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@ -27,25 +27,29 @@ Each existing user should have a completley new wallet and private key for secur
### Workflow ### Workflow
1. Bridge bDAI to DAI on BloxBerg
1. Setup an onserver node on BloxBerg
1. Synch db <->Blockchain - ensure synronization between our db (USSD interface) and blockchain 1. Synch db <->Blockchain - ensure synronization between our db (USSD interface) and blockchain
1. Finalize any contract changes to Bancor Suite (such as [Depth Bump](https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/spec/003_depth_bump.md)) 1. (delayed) Finalize any contract changes to Bancor Suite (such as [Depth Bump](https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/spec/003_depth_bump.md))
1. Create Public vs Private Functions - Contracts as permissionless as possible 1. Understand all Public vs Private (owner owned) Functions - Make all contracts as permissionless as possible
1. Create group of govenors on a multi-sig wallet with the power to assign the facilitator address of all blockchain contracts (Bancor Suite). 1. Create group of govenors on a multi-sig wallet with the power to assign the facilitator address of all blockchain contracts (Bancor Suite).
1. Security checkes
1. Deploy contracts to create Sarafu_2, set inital variables - deposit reserve and mint tokens 1. Deploy contracts to create Sarafu_2, set inital variables - deposit reserve and mint tokens
1. Migration - New wallets for users - Replicate user accounts with new token Sarafu_2 - ensure private keys are safely stored 1. Migration - New wallets for users - Replicate user accounts with new token Sarafu_2 - ensure private keys are safely stored
1. Can our own xDAI node process transactions?
### Variables ### Variables
1. Synch variables, - synch frequency - and limitations 1. Synch variables, - synch frequency - and limitations
2. Contract variables (reserve ratio (0.25), reserve amount (40k xDAI), number of Sarafu_2 (16Million), convert fee 0.005 (0.5%)) 2. Contract variables (reserve ratio (0.25), reserve amount (40k bDAI), number of Sarafu_2 (16Million), convert fee 0.005 (0.5%))
3. Migration speed - how often is synching done between USSD db and blockchain 3. Migration speed - how often is synching done between USSD db and blockchain
4. 3rd party Fiat <-> xDAI conversion costs and speed 4. 3rd party Fiat <-> bDAI conversion costs and speed
### Interface ### Interface
This migration will all be done at code and command line level, while some testing can be done on the platform gui This migration will all be done at code and command line level, while some testing can be done on the platform gui
## Testing ## Testing
1. Check bDAI to DAI on bridge on BloxBerg
1. Test observer node on BloxBerg for dashboard
1. Check db<->blockchain synch - verify they are synched and we can do external transactions and handle RPC failure 1. Check db<->blockchain synch - verify they are synched and we can do external transactions and handle RPC failure
1. Token Governance 1. Token Governance
1. Contract deplyment - conversions, transfers all work as expected 1. Contract deplyment - conversions, transfers all work as expected