Prop 377: Smart Contract Migration (v0.9.2)

Summary

This proposal upgrades the Nolus smart contracts on mainnet to the latest release, v0.9.2, and adds five new assets for spot margin long positions in the Solana USDC market: BP (Backpack), GLDX (Gold xStock), MU (Micron Technology), SPCX (SpaceX) and WNEAR (Wrapped NEAR).

Until now, each market could only support a limited number of assets. Every new asset made the margin position contract larger, and at around 14 assets that contract hit a hard size limit set by the chain, so further assets could not be added. This is what held back these five assets. The new release removes that limitation: the contract no longer grows as assets are added, so a market can keep expanding its list of supported assets. The same upgrade has already been tested on the Rila testnet with all 15 assets.

With this upgrade the Solana USDC market grows from 10 to 15 assets. The release also makes it possible again to upgrade the platform's core contracts, which the previous version could not do.

Nothing changes for existing users: all open margin positions in the Solana USDC, SOL, cbBTC and WETH markets are carried over to the new version automatically, and interest rates, limits and fees stay exactly as they are.

Technical details: the Admin contract's migrate_contracts moves the platform contracts and all four registered markets to the new codes pinned by the accompanying pin proposal (Admin (984), Timealarms (985), Treasury (986); SOLANA-METIS-USDC Position Manager (987), LPP (988), Oracle (989), Profit (990), Remote Position controller (991), Reserve (992), Margin Position (993); SOLANA-METIS-SOL Position Manager (994), LPP (995), Oracle (996), Profit (997), Remote Position controller (998), Reserve (999), Margin Position (1000); SOLANA-METIS-CB_BTC Position Manager (1001), LPP (1002), Oracle (1003), Profit (1004), Remote Position controller (1005), Reserve (1006), Margin Position (1007); SOLANA-METIS-WETH Position Manager (1008), LPP (1009), Oracle (1010), Profit (1011), Remote Position controller (1012), Reserve (1013), Margin Position (1014)), and each market moves its open margin positions to its new Margin Position code. The five new assets (BP (Backpack, BPxxfRCXkUVhig4HS1Lh7kZqV6SPJhzfEk4x6fVBjPCy), GLDX (Gold xStock, Xsv9hRk1z5ystj9MhnA7Lq4vjSsLwzL2nxrwmwtD3re), MU (Micron Technology by Backpack Securities, MUxEsUKSMACyw5fZf68wxf5FLnZVhtU9CwH8uNNGay1), SPCX (SpaceX by Backpack Securities, SPCXxcqXj6e5dJDVNovHN8744zkbhM2bYudU45BimGb) and WNEAR (Wrapped NEAR, 3ZLekZYq2qkZiSpnSvabjit34tUkjSwD1JFuW9as9wBG)) are defined in nolus-protocol/nolus-networks PR #170. A second message adds them to the SOLANA-METIS-USDC Oracle's price routing so they are priced from the first block after the upgrade.

By voting "YES" to this proposal you agree to upgrade the mainnet contracts to v0.9.2 and add the five new assets to the Solana USDC market.