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This post is devoted to the explanation of Proposal 56 implementation that the CVP holders recently approved: Post on the PowerPool governance forum with all the details and motivation behind […]
This post is devoted to the explanation of Proposal 56 implementation that the CVP holders recently approved:
Post on the PowerPool governance forum with all the details and motivation behind Proposal 56:
https://gov.powerpool.finance/t/proposal-56-deprecate-legacy-powerpool-products/1299The Snapshot voting results:
https://snapshot.org/#/cvp.eth/proposal/0xf4b348e007eadb689a487f9751fe07ed90981326f09690e8371ee7499d4fe4d0
The takeaway from Proposal 56:
Proposal 56 states: “Deprecate (1) PIPT (2) YETI (3) ASSY (4) YLA 1 (5) PowerAgent v1 by executing the following steps:
Excluding deposit options and withdraw-only mode in PowerPool dApp UI for all mentioned Defi products and PowerAgent v1switching off all automatic tx executionmoving mentioned products to the particular ‘Legacy’ section with UI warning and notifying the community about deprecation.”
The following steps will be done to implement all changes:
All automatic PowerAgent v1 tasks, such as ASSY weights update, TWAP oracles, and others, will be stopped within a week.The only exception will be ZAP for YLA. The ZAP will operate for one more month to allow YLA users to withdraw their funds via ZAP.All tech issues with products, preventing withdrawals will be solvedThe deposit option for all legacy products will be removed from PowerPool UI/UX
After a month left for YLA withdrawals, ZAP will be shut down. We want to point out that withdrawals from YLA will be available after this month as well, but users will need to pay the full amount of gas for it.
Note that smart contracts of all legacy products will be infinitely available in the Ethereum blockchain, and funds will also be available for withdrawals after the deprecation.
After ZAP is shut down, PowerAgent v1 stakers can withdraw their CVP from nodes. At that time, we expect PowerAgent v2 to be available in the mainnet and invite all node runners to run PowerAgent v2 node.
We will notify in Twitter regarding all changes implemented.
Proposal 56 implementation details was originally published in PowerPool on Medium, where people are continuing the conversation by highlighting and responding to this story.
