<aside> 💡 Please DM Collin (Twitter: @atro0o) or post in the Telegram/Discord validator channels if you have questions, comments, or concerns.
</aside>
See the upgrade PSA doc here
This document is an overview of what was discussed in the pre-upgrade call for Sommelier v4.0.1
We are trying to get this network upgrade out quickly so that we can test the system live on mainnet before any user funds enter the cellar on June 1st.
A proposal was decided on for block height 3610000 which is approximately 6:15PM UTC, Friday, May 13. Please vote! The reason for the awkward Friday upgrade timing is the Gateway to Cosmos event that will have much of the validator set occupied next week. In order to have a long live-testing window we will ideally upgrade before the event, but in the case of a rejected proposal we will upgrade after.
The upgrade will be a normal halt and coordinated binary swap-out. The following live-testing period will last until the go-live on June 1st and will require validators to be running their Steward and Orchestrator processes so that real rebalances and position changes can be made against the live Aave V2 Stablecoin cellar. Please follow the Steward setup steps outlined here.
A call will be scheduled for coordinating the upgrade when the proposal passes.
Until the go-live on June 1st, we will be performing live testing with our own funds on the Aave V2 Stablecoin cellar. During this period the UI will be locked to prevent users from depositing their funds early. We are considering making the UI privately available early to influencers to help spread awareness before the public launch.
June 1st is the planned date when the UI will be opened to the public and users will be able to use it to deposit their funds into the cellar.
The Peggy JV team will be the sole Strategy Provider starting out. They will send recommendation data to your Steward gRPC endpoints that will then be relayed to the cellar if consensus is reached by the validator set (i.e. a quorum receive and submit the same recommendation). Initially, the Peggy JV Client CA will be hardcoded into Steward. In the future, Strategy Providers will be registered and their trust material stored on-chain.
The choice of our first Cellar strategy was made with the intent to be conservative while showcasing the power of the Sommelier platform. We anticipate significant capital flowing into the first cellar as its APY in backtesting was very desirable when compared with holding a static lending position on Aave V2.