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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
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. 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. (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. 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. Security checkes
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. Can our own xDAI node process transactions?
### Variables
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
4. 3rd party Fiat <-> xDAI conversion costs and speed
4. 3rd party Fiat <-> bDAI conversion costs and speed
### Interface
This migration will all be done at code and command line level, while some testing can be done on the platform gui
## 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. Token Governance
1. Contract deplyment - conversions, transfers all work as expected