Protocol Engineering Month in Review: June 2021

Protocol Engineering Month in Review: June 2021

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.

Weekly Executives

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

Smart Contract Development

A diverse list including periphery modules, proxy contracts, collateral adapters and interfaces:

Layer2 Development

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

Keeper Development

With the move of the remaining collateral types to Liquidations 2.0 we had a final task to update the auction demo keeper:

Auditor Engagement

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

Forum Posts and Documentation

Internal Team Training

  • 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.

DAI Supply Discussions

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.

Team Admin and disclosure

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.