TrueFi

Author: @hal

TFIP-2: Claim Ownership of stkTRU, TRU

Abstract

This proposal is for TrueFi governance to claim ownership of the stkTRU and TRU smart contracts. Executing these transactions will allow the DAO to own these tokens and perform future upgrades for the stkTRU smart contract.

Motivation

Currently the stkTRU and TRU smart contract proxies are owned by a multisig. In order for TrueFi to become truly owned by its users, the DAO needs to own the proxy for these contracts, thus giving governance the capability to upgrade these contracts.

Summary

TrueFi uses a smart contract proxy pattern - each contract consists of a proxy (public facing address) and an implementation (actual code). Code from the implementation is loaded into the proxy contract every time someone wants to interact with the smart contract. The proxy owner has the ability to change the implementation contract in order to add new functionality or logic.

In order to control the smart contract proxies, a function call needs to be made to each liquidity pool proxy address:

Token Proxies TRU: 0x4C19596f5aAfF459fA38B0f7eD92F11AE6543784 stkTRU: 0x23696914Ca9737466D8553a2d619948f548Ee424

Before the claimProxyOwnership() function can be called, the previous owner multisig will call the transferProxyOwenrship() function.

In addition to the proxy ownership for the TRU contract, there is an owner role. The owner is still allowed to mint TRU up to the maximum supply of 1.45 billion. By claiming the owner role in the TRU smart contract, governance will control the ability to mint the remaining 8,870,574 TRU that was previously burned.

Actions

1. Call claimProxyOwnership() on 0x4C19596f5aAfF459fA38B0f7eD92F11AE6543784
2. Call claimProxyOwnership() on 0x23696914Ca9737466D8553a2d619948f548Ee424
3. Call claimOwnership() on 0x4C19596f5aAfF459fA38B0f7eD92F11AE6543784