CP94: Runtime Upgrade 1027

[Rhano]

Uses component: CP3.1
Author(s): k/f
Contributor(s):@WilliamFreude, @cdamian , @luis
Proposal on Proposal Repository (Github): cps/cps/CP94.md at main · centrifuge/cps · GitHub
Date proposed: 2024-03-19

About this proposal

Upgrade Centrifuge Chain to Runtime Version 1027.

In RU 1026, the Anemoy pool currency changes from Polkadot USDC to Local USDC which belongs to a new asset class on Centrifuge Chain called LocalAsset. As part of 1026, Local USDC is registered and linked to existing USDC variants. The new TokenMux module streamlines the investment flow for variants of the same currency, i.e. USDC for now. We noticed that part of the flow is blocked by not being able to place swap orders into a currency variant from its local asset. The same result can be achieved by another API but it is not desired due to bad UX.

Moreover, the ProxyType::Borrow was missing permissions to execute TokenMux calls necessary for a good borrow flow.

Since neither of these fixes imposes any security risk and no veto from Anemoy, we decided on enacting 1026 and proposing 1027 instead of proposing to supersede 1026 for 1027.

List of content of this Runtime Upgrade

• Fix: Enable placing Orderbook orders for local assets CurrencyId::LocalAsset(_)
• Permit ProxyType::Borrow to call TokenMux::deposit, TokenMux::burn, TokenMux::match_swap
• Transfer 3,274,469.850463039024292328 CFG from the Tinlake rewards account to the Centrifuge treasury (passed with CP81)

WASM

✨ Your Substrate WASM Runtime is ready! ✨
Summary generated with srtool:1.75.0-0.14.0:
 Package     : centrifuge-runtime v0.10.27
 GIT commit  : 6f0dd0a
 GIT tag     : v0.10.38
 GIT branch  : main
 Rustc       : 1.75.0 (82e1608df 2023-12-21)
 Time        : 2024-03-18T16:49:36Z

== Compressed
🏋️  Runtime size:             1.810 MB (1,898,009 bytes)
🗜  Compressed:               Yes, 78.51%
✨ Reserved meta:            OK - [6D, 65, 74, 61]
🎁 Metadata version:         V14
🔥 Core version:             centrifuge-1027 (centrifuge-1.tx2.au1)
🗳️  system.setCode hash:      0x46e69bde68b8c3106fdca80842ac2592b8959ec1d0ac3d70acb665460e7f0434
🗳️  Blake2-256 hash:          0xb69411ac0efe924477a5d058451dfc8444c669106cd2763c220dc4b622fb88bc
📦 IPFS:                     https://www.ipfs.io/ipfs/QmRwRBqPHaARPqQKswsroJoYsK8rrCW7nZ2mN2PNm9B9Rb

Release Notes: v0.10.38

Docker Image: docker pull centrifugeio/centrifuge-chain:main-6f0dd0a-2024-03-18

Full Changelog: v0.10.37…v0.10.38

Governance process for this proposal

1. Council Motion + fast-track
2. Referendum vote open for 900 blocks (~3 hours)
3. If the referendum passes, enactment will be immediately after

[Rhano]

Council Motion 83 has just been submitted to the Centrifuge Council.

Please vote on Council Motion 83 at your earliest convenience Councillors!

Vote in the portal: CP94: Runtime Upgrade 1027

Vote on SubSquare: CP94: Runtime Upgrade 1027

@branan @thespaceacatjr @prankstr25 @cassidy @lucasvo @vedhavyas @mikiquantum @Ash

[ImdioR]

Council Motion 83 has passed and now becomes Referendum 49 for all CFG token holders to vote on.

The referendum is open for 900 blocks (~3 hours).

Vote in the portal: CP94: Runtime Upgrade 1027

Vote on SubSquare: CP94: Runtime Upgrade 1027

[Rhano]

Referendum 49 passed but the preimage wasn’t registered onchain so the upgrade failed. It has now been resubmitted as Council Motion 85.

Please vote on Council Motion 85 as soon as possible councillors!

Vote in the portal: CP94: Runtime Upgrade 1027

Vote on SubSquare: CP94: Runtime Upgrade 1027

@branan @thespaceacatjr @prankstr25 @cassidy @lucasvo @vedhavyas @mikiquantum @Ash

Sorry for the inconvenience!

[Rhano]

Council Motion 85 has passed and is now Referendum 50 for all CFG token holders to vote on.

The referendum is open for 900 blocks (~3 hours).

Vote in the portal: CP94: Runtime Upgrade 1027

Vote on SubSquare: CP94: Runtime Upgrade 1027

[ImdioR]

The referendum 50 has passed with the following results:

Thanks, everyone.