28 June 2021

28 June 2021

Λ L Ξ X / アレクサンダー.eth
You can read about the original Bonding Contract design and what our design objectives are for Bonding V2 here. The Bonding Contract is what is used for UBQ farming.

Bonding Contract Upgrade

We paused Bonding Contract deposits in the user interface in case we would need to manually transfer back all of the funds. The current plan is to create a migration method on the new smart contract, as well as a migration function on the user interface which should handle things in an automated and scalable way.
We do not believe that such a crucial change to our protocol should be rushed, so although the original estimate for completion was two weeks, we decided to give a full one month window in order to accomodate the core development time, thorough test writing, communicating these upgrades ad-hoc to CertiK during our security audit (starting 1 July) and the required adjustments to the user interface.

Deposits To Be Re-Enabled (With Restrictions)

Due to this strategy for moving forward, we are able to re-open up minimum one month deposits for new liquidity providers. We will adjust the UI within the next couple of days in order to restrict deposits for less than one month.
If you go to writeContract interface on etherscan to sidestep this one month minimum restriction, we can not guarantee that you will be able to redeem your funds before the migration method is implemented.
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Bonding Contract V2 Features

Beyond rewriting the contract architecture in order to not rug the less-than-max-duration stakers on their principle, we also have plans to allow for stakers to access their locked funds through a derivative token so that the locked capital is liquid. The product team is currently weighing different designs but we should have a specification complete within the next couple of weeks.
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