[PRC #2] Activate PWN v1.3 contracts

TL;DR

Set tags in PWNHub for PWN v1.3 contracts to enable their use in the protocol.

Voting

Mode: Stewards
Duration: 3 days
Veto threshold: 10%

Proposal

This proposal aims to activate PWN protocol version 1.3 by setting specific tags on PWNHub for the newly deployed contracts. The update will introduce new features and changes while maintaining backward compatibility with the previous version (v1.2).

Contract Updates

The following contracts will be tagged with ACTIVE_LOAN, LOAN_PROPOSAL, and/or NONCE_MANAGER on PWNHub:

  • PWNSimpleLoan v1.3
  • PWNSimpleLoanSimpleProposal v1.3
  • PWNSimpleLoanListProposal v1.3
  • PWNSimpleLoanElasticProposal v1.1
  • PWNSimpleLoanDutchAuctionProposal v1.1
  • PWNUtilizedCredit

New Features

  • Flexible Loan Duration: Proposals can now define loan duration or specify a default date, regardless of when the proposal is accepted.
  • Shared Utilized Credit: Multiple proposals can share accepted credit limits, allowing for more efficient credit utilization.

Changes and Fixes

  • The “fungible proposal” has been renamed to “elastic proposal” for clarity.
  • Permit support has been removed from the protocol.
  • ERC712 typehash for proposals has been fixed to ensure proper functionality.

It’s important to note that the older version (v1.2) of the PWN protocol will remain active until a separate proposal is made to disable it. This approach ensures a smooth transition and allows users to adapt to the new features gradually.

On-chain actions

  1. Schedule action on Protocol timelock with 0 delay that calls PWNHub function setTags(address[],bytes32[],bool) that will set
    – ACTIVE_LOAN and NONCE_MANAGER tags to PWNSimpleLoan v1.3
    – LOAN_PROPOSAL and NONCE_MANAGER tags to PWNSimpleLoanSimpleProposal v1.3
    – LOAN_PROPOSAL and NONCE_MANAGER tags to PWNSimpleLoanListProposal v1.3
    – LOAN_PROPOSAL and NONCE_MANAGER tags to PWNSimpleLoanElasticProposal v1.1
    – LOAN_PROPOSAL and NONCE_MANAGER tags to PWNSimpleLoanDutchAuctionProposal v1.1
  2. Execute scheduled timelock action

Contract addresses

  • Protocol timelock: 0xd8dbdDf1c0FDdf9b5eCFA5C067C38DB66739FBAB
  • PWNHub: 0x37807A2F031b3B44081F4b21500E5D70EbaDAdd5
  • PWNSimpleLoan v1.3: 0x719A69d0dc67bd3Aa7648D4694081B3c87952797
  • PWNSimpleLoanSimpleProposal: v1.3: 0xe624E7D33baC728bE2bdB606Da0018B6E05A84D9
  • PWNSimpleLoanListProposal v1.3: 0x7160Ec33788Df9AFb8AAEe777e7Ae21151B51eDd
  • PWNSimpleLoanElasticProposal v1.1: 0xeC6390D4B22FFfD22E5C5FDB56DaF653C3Cd0626
  • PWNSimpleLoanDutchAuctionProposal v1.1: 0x1b1394F436cAeaE139131E9bca6f5d5A2A7e1369
  • PWNUtilizedCredit: 0x8E6F44DEa3c11d69C63655BDEcbA25Fa986BCE9D

PWNHub tag values

  • ACTIVE_LOAN: 0x9e56ea094d7a53440eef11fa42b63159fbf703b4ee579494a6ae85afc5603594
  • LOAN_PROPOSAL: 0xc0ba7a416221f318a8087fd62f9ff407488b7f5501e79caf9b0666c2df326b9c
  • NONCE_MANAGER: 0xe41b33e4d1c538d376dd219215a123562fbb87b8c85fa2aa4ebbd8810c2454d9
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Stewards proposal created: PWN DAO Governance