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Title: Deploy Juicebox V2 protocol
Author: Jango
Date: March 25, 2022
Thesis:
Deploy the juicebox V2 protocol and commit to supporting its adoption.
Abstract:
JuiceboxDAO will deploy the V2 protocol. Inso doing, it will deploy its treasury on the freshly deployed protocol and begin a slow and steady routine to migrate operations to it over the course of several weeks/months. There’s no rush.
- The V2 contracts can be found here.
- The V2 deploy script can be found here.
- The V2 protocol’s documentation can be found here.
All other projects operating on V1 can plan a similar course of action if they want to operate on V2.
Motivation:
To create a more vibrant, extensible, and convenient Juicebox ecosystem for projects, communities, and developers.
Risks:
These risk apply to JuiceboxDAO and all other projects who choose to interact with the V2 protocol.
- Smart contract risk — any funds moved over to the V2 ecosystem could be hacked and stolen.
- Mitigation — continue auditing and putting stress on the codebase.
- Communication risk — V2 adds new functionality and adjusts several details of otherwise-familiar V1 functionality. Sending transactions to the V2 contracts without properly understanding the consequences can lead to inadvertent situations, and in the worst case botched treasuries.
- Mitigation — be careful when offering support to projects using V2 and communicating about the protocol’s capabilities. Air on the side of not knowing and asking questions until a familiarity is developed.
- Operation Risk — Projects operating multiple treasuries and multiple tokens must attentively manage each of their redemption and issuance rates, and funding cycle configurations in general. For example, if V1 treasury funds are moved to the V2 treasury without also issuing and distributing commensurate V2 project tokens to match the V1 token’s total supply, V2 token holders can redeem them for potentially much more than they should actually be redeemable for at the expense of the rest of the community. When orchestrating multiple treasuries, it is better to temporarily manage token redemption values that are lower than true value instead of higher than true value.
- Mitigation — be patient and careful when considering a migration strategy for a project. If you are not confident in the outcome of a particular transaction or set of transactions, ask questions.
Specification:
JuiceboxDAO will deploy the V2 protocol. Inso doing, it will deploy its treasury on the freshly deployed protocol and begin a slow and steady routine to migrate operations to it over the course of several weeks/months. There’s no rush.
- The V2 contracts can be found here.