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ccip-014-upgrade-to-pox3.md

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CCIP-014

Preamble

CCIP Number 014
Title Upgrade to pox-3
Author(s) Raphael R. Sierra [email protected]
Jason Schrader [email protected]
Tim Butterfield [email protected]
Consideration Governance, Economic
Type Standard
Status Ratified
Created 2023-04-19
License BSD-2-Clause
Supplements CCIP-012, CCIP-013

Introduction

On behalf of the community, based on discussion details in this GitHub issue1 and in CityCoins Discord channels, the community has voiced their interest in upgrading CityCoins to use pox-3 with the Stacks 2.4 release2.

Based on suggestions from various community members, this CCIP intends to:

  • implement the CCIP-0153 voting mechanism as part of a DAO proposal
  • update .pox to .pox-3 for delegated stacking in city treasury contracts

Specification

Treasury

The current treasury contracts used with mining directly call the .pox contract, which was disabled in Stacks 2.1 and will be replaced with .pox-3 in the upcoming Stacks 2.4 release2.

CCIP-014 will implement a new version of the treasury contract ccd002-treasury-v2 that replaces .pox with .pox-3, as well as move the balances and perform the delegated stacking.

Note: this only affects the mining treasuries for each city, the addresses for the stacking treasuries will remain the same

City Current New
MIA ccd002-treasury-mining ccd002-treasury-mining-v2
MIA ccd002-treasury-stacking (no change)
NYC ccd002-treasury-mining ccd002-treasury-mining-v2
NYC ccd002-treasury-stacking (no change)

Mining

The current mining contract directly references the mining treasury and cannot be updated.

CCIP-014 will implement a new version of the mining contract ccd006-citycoin-mining-v2 that replaces the name with the new treasury described above.

At the block height the proposal executes, miners will need to switch to mining in the ccd006-citycoin-mining-v2 contract.

Claims to the original and updated mining contract will function the same before and after.

Proposal Voting

Proposal voting will be performed using the method described in CCIP-0153.

Voting will begin when the contract is deployed and continue for a set number of blocks.

Note: The end of the voting period needs to allow enough time to execute the proposal and stack the city treasuries. This will require close monitoring of the Stacks 2.4 launch plan.

Votes will be counted two ways in the contract: a general total of yes/no votes, and the total number of votes based on the amount of CityCoins stacked in cycles 54 and 55.

The voting code is part of the CCIP-014 smart contract proposal4, which tracks user votes between the voting period.

It also restricts the execute function in the proposal so that it cannot run unless:

  • the vote is concluded
  • the total votes are > 0
  • the yes votes > no votes

The criteria above are in consideration of the short window to stack the treasuries for Cycle 60, and can be adjusted in future proposals.

Backwards Compatibility

This CCIP is supplemental to CCIP-0125 and CCIP-0136.

Activation

This CCIP will be voted on using a vote contract that adheres to CCIP-0153 using the last two active cycles from when the contract is deployed.

Currently, this would be:

  • MIA cycles 54 and 55
  • NYC cycles 54 and 55

The scale factor for MIA was determined using the same formula used in CCIP-0153 and calculated based on the total supply at the start block of the first cycle and the end block of the last cycle.

  • MIA scale factor: 0.8760 (prev: 0.8715)

The calculations used for the scale factor are available in the supplemental spreadsheet7.

Reference Implementations

Footnotes

Footnotes

  1. https://github.com/citycoins/governance/issues/13 ↩

  2. https://forum.stacks.org/t/stacks-2-4-is-here-stacking-to-be-re-enabled/15024 ↩ ↩2

  3. https://github.com/citycoins/governance/blob/feat/add-ccip-015/ccips/ccip-015/ccip-015-community-proposal-voting-process.md ↩ ↩2 ↩3 ↩4

  4. https://github.com/citycoins/protocol/blob/fix/support-pox-2/contracts/proposals/ccip014-pox-3.clar ↩

  5. https://github.com/citycoins/governance/blob/main/ccips/ccip-012/ccip-012-stabilize-emissions-and-treasuries.md ↩

  6. https://github.com/citycoins/governance/blob/main/ccips/ccip-013/ccip-013-stabilize-protocol-and-simplify-contracts.md ↩

  7. See the ccip-014-vote-calculations-per-ccip-015 spreadsheet ↩