Governance Meeting Notes Mega-Thread

Secret Governance
116

Abstract

  • The contract upgrade feature is fully developed and tested and will be included in the v1.10 upgrade. This feature is backward compatible however admins will need to prove their ownership and supply an admin address before the v1.10 upgrade as this needs to be hardcoded.
  • Pulsar-3 will be up for teams to use in a few days, pulsar-2 will stay online for 3 weeks to ensure a smooth transition.
  • The maximum VP feature should be straightforward to implement in the next upgrade, the specific implementation chosen is not clear yet.
  • The fee grant faucet continuation proposal aims to fund the operation and maintenance of this community faucet for the next 6 months. It is used in the Secret Dashboard and can be used to wrap/unwrap and IBC transfer in/out. It can be used for staking once the staking page will go live. 80 SCRT was used since inception and ~450 SCRT is still in the treasury.
  • IBC fee middleware was included in the last upgrade, but is not yet supported by wallets and/or dApps. This could offset any potential fee increase and compensate relayers more effectively than other methods.
  • Fees have never been cheaper than they are now, it may make sense to increase them to keep the fee cost in USD roughly stable over time. There seems to be support to increase the fee to 0.25 uSCRT, potentially we could first move to a system where we have a low fee that is 0.1. uSCRT, a medium fee of 0.25 uSCRT, and a high fee of 0.5 uSCRT. It would be critical to ensure that the medium fee is included within 5 blocks in ~99.9% of situations. Front ends need to be updated before validators and api nodes institute new values.

Action Points

Full Notes