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Update memo format rebalance #168

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Update memo format rebalance #168

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faef779
update memo format of kip-103,160
yoomee1313 Jun 6, 2024
cc87ba3
fix author of KIP160
yoomee1313 Jun 6, 2024
88ebcff
fix typo in kip-103
yoomee1313 Jun 6, 2024
0095718
Apply suggestions from code review
yoomee1313 Jun 18, 2024
a36e724
add enabling editing memo section in kip-160
yoomee1313 Jun 25, 2024
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33 changes: 20 additions & 13 deletions KIPs/kip-103.md
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Original file line number Diff line number Diff line change
Expand Up @@ -168,11 +168,11 @@ The execution result of treasury fund rebalancing will be printed as an INFO-lev
**Format**

```
{
"retired": {"0xRetiredAddress1":[removed balance in Peb], "0xRetiredAddress2":[removed balance in Peb], ... },
"newbie" {"0xNewbieAddress1":[new allocated balance in Peb], "0xNewbieAddress2":[new allocated balance in Peb], ... },,
"burnt":[bunt amount in Peb],
"success":true
{
"retirees": [ { "retired": "0xRetiredAddress1", "balance": [removed balance in Peb] }, { "retired": "0xRetiredAddress2", "balance": removed balance in Peb], ... } ],
"newbies": [ { "newbie": "0xNewbieAddress1", "fundAllocated": [new allocated balance in Peb] }, { "newbie": "0xNewbieAddress2", "fundAllocated": [new allocated balance in Peb], ... } ],
"burnt": [burnt amount in Peb],
"success": [true/false]
}
```

Expand All @@ -182,11 +182,20 @@ Note: 10^18 [Peb](https://docs.klaytn.foundation/content/klaytn/design/klaytn-na

```
memo="{
"retired": {"0x38138d89c321b3b5f421e9452b69cf29e4380bae":117000000000000000000000000000000000000, "0x30208f32c70e8b53a67ea171c8720cbfe32888ff":117000000000000000000000000000000000000},
"newbie" {"0x0a33a1b99bd67a7189573dd74de80293afdf969a":22500000000000000000000000000000000000, "0xd9de2697000c3665e9c5a71e1bf52aaa44507cc0":22500000000000000000000000000000000000},
"burnt":72000000000000000000000000000000000000,
"retirees":[
{"retired":"0xafd197d383453b08b7c1509bdb4b6afee9f66578","balance":5000000001892521406055074536},
{"retired":"0x5678300abc1f599d865c3525df851b3902c88266","balance":2280917577134567890000000000},
{"retired":"0x278e6332d69eed782784d21802e3504a64a16456","balance":352628334320754365571158456},
{"retired":"0x3d803a7375a8ee5996f52a8d6725637a89f5bbf8","balance":112778356560412760866604672}
],
"newbies":[
{"newbie":"0x4f04251064274252d27d4af55bc85b68b3add992","fundAllocated":2000000000000000000000000000},
{"newbie":"0x85d82d811743b4b8f3c48f3e48a1664d1ffc2c10","fundAllocated":180000000000000000000000000},
{"newbie":"0xdd4c8d805fc110369d3b148a6692f283ffbdccd3","fundAllocated":270000000000000000000000000}
],
"burnt":5296324269908256422492837664,
"success":true
}"
}
```

## Rationale
Expand Down Expand Up @@ -224,10 +233,8 @@ Query Result:

```js
memo= "{
"retirees": [{"retired": "0xRetiredAddress1", "balance": "0xamount"},
{"retired": "0xRetiredAddress2", "balance": "0xamount"}],
"newbies": [{"newbie": "0xNewbieAddress1", "fundAllocated": "0xamount"},
{"newbie": "0xNewbieAddress2","fundAllocated": "0xamount"}],
"retirees": [{"retired": "0xRetiredAddress1", "balance": "0xamount"}, {"retired": "0xRetiredAddress2", "balance": "0xamount"}, ...],
"newbies": [{"newbie": "0xNewbieAddress1", "fundAllocated": "0xamount"}, {"newbie": "0xNewbieAddress2","fundAllocated": "0xamount"}, ...],
"burnt": "0xamount",
"success": true
}"
Expand Down
61 changes: 59 additions & 2 deletions KIPs/kip-160.md
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Original file line number Diff line number Diff line change
@@ -1,7 +1,7 @@
---
kip: 160
title: An Update of Treasury Fund Rebalancing
author: Yumiel (@yoomee1313) and Ollie (@blukat29)
author: Ollie (@blukat29), Yumiel (@yoomee1313), Ian (@ian0371), Aidan (@aidan-kwon)
status: Final
type: Standards Track
category: Core
Expand All @@ -16,7 +16,7 @@ An update of treasury fund rebalancing.
The treasury fund rebalancing is updated, resulting in updates to the treasury rebalance contract v2 and the related core logic.

## Motivation
According to KIP-103, the treasury rebalancing refers to the act of burning existing fund balances and minting new funds. This event happens at a reserved time, such as a hard fork block number. Through the TreasuryRebalance contract, the disclosure of the treasury fund activities can be conducted transparently and verifiably. However, there are a few shortcomings of KIP-103; (1) it only permits the decrease in the total balance of the funds, (2) its rebalance blocknumber is immutable.
According to KIP-103, the treasury rebalancing refers to the act of burning existing fund balances and minting new funds. This event happens at a reserved time, such as a hard fork block number. Through the TreasuryRebalance contract, the disclosure of the treasury fund activities can be conducted transparently and verifiably. However, there are a few shortcomings of KIP-103; (1) it only permits the decrease in the total balance of the funds, (2) its rebalance blocknumber or memo is immutable. Once these values are set, they cannot be changed, even if they are incorrectly set.

To address those above, this proposal made some improvements. First of all, this proposal expands to the general cases so that we don't have to consider whether the final result is burn or mint. The other improvement is about making rebalanceBlocknumber in the RebalanceContract editable. The rebalanceBlocknumber should be matched with the related hardfork block number.

Expand Down Expand Up @@ -65,6 +65,63 @@ The next method is added to the TreasuryRebalanceV2 contract.
}
```

### To enable editing of Memo defined in treasury rebalance contract
The execution result of treasury fund rebalancing V2 is printed as an INFO-level log on each node. This log is added as a memo to the contract, making it permanently viewable.
However, once finalized, any modifications to the memo value were restricted even if set incorrectly.
This proposal aims to seperate the memo setting process from the contract finalization, allowing the memo value to be set repeatedly.

The `setPendingMemo` is added and `finalizeContract` of the TreasuryRebalanceV2 contract is revised as follows.

```solidity
string public pendingMemo; // temporary storage for memo
string public memo; // result of the treasury fund rebalance

/**
* @dev sets the pendingMemo of the Contract. Once finalized, the memo cannot be modified.
* @param _memo is the result of the rebalance after executing successfully in the core.
*/
function setPendingMemo(string memory _memo) external onlyOwner onlyAtStatus(Status.Approved) {
pendingMemo = _memo;
}

/**
* @dev sets the status of the contract to Finalize. Once finalized the storage data
* of the contract cannot be modified. Also it sets the memo with pendingMemo value.
* It will be used for public disclosure.
* Can only be called by the current owner at Approved state after the execution of rebalance in the core
*/
function finalizeContract() external onlyOwner onlyAtStatus(Status.Approved) {
require(block.number > rebalanceBlockNumber, "Contract can only finalize after executing rebalancing");
require(bytes(pendingMemo).length > 0, "no pending memo, cannot finalize without memo");

memo = pendingMemo;
status = Status.Finalized;
emit Finalized(memo, status);
}
```

### Result
In the Kip-103 memo format, the `zeroed` item showed the balance of the zereods before rebalancing, while the `allocated` item showed the balance of the allocateds after rebalancing.
It was insufficient for interpreting the rebalancing results. Therefore, this proposal changes the format to display balances both before and after rebalancing.
The newly proposed memo format is shown below with balance/amount in kei (peb of Klaytn).

**Format**

```
{
"before": {
"zeroed": { "0xZeroedAddress1": [balance of zeroedAddress1 before rebalance], "0xZeroedAddress2": [balance of zeroedAddress2 before rebalance], ...},
"allocated": { "0xAllocatedAddress1": [balance of AllocatedAddress1 before rebalance], "0xAllocatedAddress2": [balance of AllocatedAddress1 before rebalance], ...}
},
"after": {
zeroed": { "0xZeroedAddress1": [balance of zeroedAddress1 after rebalance], "0xZeroedAddress2": [balance of zeroedAddress2 after rebalance], ...},
"allocated": { "0xAllocatedAddress1": [balance of AllocatedAddress1 after rebalance], "0xAllocatedAddress2": [balance of AllocatedAddress1 after rebalance], ...}
},
"burnt": [burnt amount],
"success": [true/false]
}
```

## Rationale
While executing the core logic of the KIP-103 treasury rebalance, the unintended increase in the nonce of the '0x0' address occured. In KIP-160, this issue can be resolved by replacing the usage of `kip103ContractBackend` with `BlockchainContractBackend`. For your reference, `ContractBackend` facilitates the interaction between the core and contracts.

Expand Down
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