MIP12c2-SP2: Domain Work Requirements for KNC

Preamble

MIP12c2-SP: 2
Title: Domain work requirements for onboarding the KNC collateral type
Author(s): Cyrus Younessi (@DonutJr), Niklas Kunkel (@NiklasKunkel), Mariano Conti (@nanexcool)
Contributors: Charles St.Louis (@CPSTL)
Status: Obsolete
Date Proposed: 2020-06-03
Date ratified: <yyyy-mm-dd>

Specification

Summary

This proposal defines the documentation and work requirements for the onboarding of the KNC collateral type to the Maker Protocol, explicitly highlighting the domain teams’ objectives and work requirements needed to get it implemented to the Maker Protocol.

Proposal Details

This subproposal contains the domain work products required for the KNC collateral asset to be added to the Maker Protocol. More specifically, it includes the risk parameters/risk evaluation, oracle solutions, and necessarily smart contracts needed for KNC.

  1. Risk Domain Work: The risk domain team’s work contains the following risk construct/risk evaluation for the KNC collateral type:

    1. [KNC] MIP12c2-SP2 Collateral Onboarding Risk Evaluation
  2. Smart Contracts Domain Work: The smart contracts domain team’s work required to get KNC added to the Maker Protocol includes an assessment of the collateral type-token contracts, work products for the operational collateral adapter, medianizer, oracle security module, and deploying the executive vote code (spell). More specifically:

    1. Perform a review of the KNC ERC20 contract to determine if they conform to the standard and can indeed be used with the existing smart contract collateral adapters.
    2. Perform the testing on the Kovan testnet, confirming that adapters and auction contracts ork well with the Maker Protocol.
    3. Create the spells to include the collaterals on our Kovan deployment.
    4. Finally, the team will deploy the smart contracts and build the executive vote spells for the Ethereum Mainnet.
  3. Oracles Domain Work: The oracles domain team’s work required to get KNC added to the Maker Protocol, includes making sure the oracle price feeds to support the new collateral type are prepared. More specifically, this includes:

    1. Add support for KNC to setzer
    2. Add support for KNC to omnia
    3. Deploy release candidate to the Kovan testnet for testing
    4. Coordinate Feeds to upgrade to latest release candidate
    5. Deploy Oracle smart contracts
    6. Update Relayers to include KNC

Motivation

The goal of this proposal is to provide transparency to the Maker Community as to what the domain teams’ (Risk, Smart Contracts, and Oracles) work consists of in order to add the KNC collateral type to the Maker Protocol.

Relevant Information

Relevant Definitions:

  • Spell: A spell is an un-owned object that performs one action or a series of atomic actions (multiple transactions) one time only to the Maker protocol.
  • OSM: ensures that new price values propagated from the Oracles are not taken up by the system until a specified delay has passed (OSM Documentation).
  • Median: provides Maker’s trusted reference price. In short, it works by taking the median of a set of price updates posted by governance appointed Feeds. (Median Documentation).

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