The following is a summary of Protocol Engineering team efforts for the month of June. As evidenced by the numerous code submissions, especially with respect to CropJoin, SushiJoin and Optimism contracts, we’ve been pretty heavily engaged in reviews, updates and enhancements across the board. Team discussion also moved towards increasing and broadening the DAI supply through conditional vaults and new collateral types. Similarly, L2 progress has been strong, involving close collaboration with Optimism, Arbitrum and StarkWare.
Only three executives in June as we shifted the last executive (PSM autoline) into July:
- June 4th: June Core Unit Budget Distributions, Other Changes (including Liq2.0 and PSM)
- June 11th: Parameter Changes, Oracle Whitelisting, Other Changes (PSM DC, ETH vault parameters)
- June 18th: Flash mint Implementation, Debt Floor Changes
A diverse list including periphery modules, proxy contracts, collateral adapters and interfaces:
- Uniswap V3 Periphery Contracts: Peripheral contracts enabling profit reinvestment
- Vote-Delegate: Contract updates, testing and the addition of a 1year expiry parameter
- Flippers changed to Clippers for Stablecoins: Removed tech debt and updating all collaterals to Liq2.0
- Updates to CropJoin and SushiJoin: New naming, manager implementation, and proxy patterns
- DssFlash: Completed testing on Kovan and deployed the Flash Mint Module
- DssProxy Actions: Updated integration with CropJoin, CdpManager, Sushi LPs and PAX-G
- Direct Deposit Module: Enhanced gem redemption in the event of protocol shutdown
- Oracles IAM: Created a solution allowing the addition but not removal of reader authorization
- Adding Permissioned-Gem-Join: Updated for authorized users to interact with a join adapter without granting full auth access
- Dss-Interfaces and Dss-Deploy-Scripts: updated to support DssFlash
- PSM DC autoline: Introduced an IAM debt ceiling autoline to the PSM
Our primary focus remains on delivering Optimism and Arbitrum as they are technically very similar. We have a number of dependencies with these teams as they wrap up their deployments and audits.
- Optimism-dai-bridge: Fixes, fuzzing tests and improvements. Deployment is imminent!
- Arbitrum: Ongoing work for the Arbitrum Bridge (still private repo)
- StarkWare: Exploring options to bootstrap StarkNet development
With the move of the remaining collateral types to Liquidations 2.0 we had a final task to update the auction demo keeper:
- Auction-demo-keeper: Support and enhancements for new collateral types
Ongoing engagement to ensure code correctness for new implementations:
- ChainSecurity: Optimism-Dai-Bridge reviews and work on internal deployment scripts
- ABDK: Vote Delegate review completed
- Architectural Debt Cleanup: Migrating Remaining Collateral to Liquidations 2.0
- Flash Mint Initial Parameters: Max set to 500m DAI and toll set to 0.05%
- Defined Numerical Ranges Document: for all dss parameters and quantities
- ESM Postmortem: team discussion - pending publication
- Oracle Tail Risk Mitigation: team discussion - pending publication
- Staked Eth Technical Evaluation - pending publication
- BlockScience: DSR scenario analysis, entity relationships and system modelling
- Certora: Extending proof assessments of the DAI Optimism-Dai-Bridge to ensure variables are consistent and that there are no code violations.
Worthy of mention this month are discussions that have been occurring between Protocol Engineering, the community and Mandated Actors exploring possibilities for increasing the DAI supply. This has led to focussed work regarding CropJoin and SushiJoin, and will lead to immediate work on defining conditional vaults in the coming week.
As introduced earlier this month, we welcomed two new hires; Tal and Julien. Both have been instrumental in writing and reviewing executive spells, conducting collateral assessments (StakedETH) and contributing to the team. We are super happy to be extending the team’s capability!
Protocol Engineering team finances are temporarily trending slightly below budget due to outstanding payments to a number of team members and 3rd party auditors and tooling providers. We expect to clear KYC requirements to be able to make these outstanding payments within the coming weeks.