v4-mainnet network upgrade will begin on December 20th. This upgrade will extend the prize pool network to the Avalanche blockchain and enhance the security of the Ethereum and Polygon prize pools.
The release includes a number of protocol updates, as well as a user interface refresh. These changes include:
- A new USDC.e Prize Pool will be deployed on Avalanche using Aave V2.
- Both the Ethereum and Polygon prize pools will be upgraded so that the prize distribution is calculated on-chain.
- The Polygon and Avalanche prize pools will each have their own PrizeTierHistory.
The addition of a PrizeTierHistory contract to both the Avalanche and Polygon prize pools is significant. This contract stores the prize configuration. This is good for two reasons:
- Our automatic Defender scripts will no longer configure the prize distribution. They will only report a draw’s total average ticket supply across the network. This minimizes risk to the protocol.
- Having a Prize Tier History on each chain means that we could have different prizes per prize pool, if governance decides. We will initialize both contracts to match the current prize tiers.
The upgrade will start on December 20th at approximately 10:30am PST. The upgrade steps are sequenced so that the network is not interrupted:
|1||2 hours||Contract deployment|
|2||1 hour||Deployment checked|
|3||30 mins||App is updated to show the new Avalanche deployment|
|4||1 hour||Defender tasks are updated after the daily prize|
|5||1 hour||PT Exec Team transfers liquidity to Avalanche|
|6||30 mins||PT Exec Team claims owernship of new contracts|
The daily prize occurs at 11:00am PST, and is automated by Defender. The changes to Defender will be rolled out after the daily prize to minimize any chance of interruption.
The PT Inc. team will deploy the new contracts and transfer control to the PoolTogether Executive Team’s Avalanche Safe.
After the new contracts are deployed, the new network state will be verified to ensure everything is in its right place.
Once the network is verified, the front-end team will update the app to show the new Avalanche deployment. This should be quick, as many of the changes have been expertly rolled out already
OpenZeppelin Defender is the system we use for automation. It will be updated to include the new contracts, as well as include new logic for the new prize distribution approach outlined above.
The PoolTogether Executive Team will have two important jobs once the contracts are deployed and verified:
- The team will transfer $250k USDC in liquidity from Ethereum to Avalanche. These funds were transferred to the Exec Team’s Ethereum Safe in PTIP-51
- The team will deposit said funds into the new Avalanche prize pool on behalf of the Prize Distributor. The Prize Distributor will then be stocked with tickets so that users can claim prizes.
- The team will complete the ownership transfer of all newly deployed contracts.
We’ve done our planning, testing, and auditing. This rollout should go very smoothly! If anyone has any questions or concerns before the upgrade please let us know.