PersistenceCore v8 Pacaya Upgrade

This is a proposal to do a software upgrade to the v8.1.0 software tag of the Persistence codebase on block height 13046600, which is estimated to occur on Tuesday 5th September 2023 around 11:00AM UTC. Block times have high variance, so please monitor the chain for precise time.

Pacaya is an active complex volcano in Guatemala known for its persistent activity.

Changelog

• Upgrades cosmos-sdk from v0.45.14 to v0.47.3 with an LSM fork created by Persistence, including barberry security fix
• Migrates from tendermint v0.34.26 to cometbft v0.37.2
• Upgrades ibc-go from v4.3.1 to v7.2.0 LSM fork including huckleberry security fix
• Upgrades wasmd from v0.30.0 to v0.40.2 LSM fork & wasmvm to 1.2.4 including cherry bugfix
• Some SDK 47 things to keep in mind:
  • The SDK version includes some key store migration for the CLI. Make sure you backup your private keys before doing upgrade! You can not switch back to v45 keys
  • CLI: add-genesis-account, gentx, add-genesis-account, collect-gentxs and others are now under genesis command as parent
  • CLI: --broadcast-mode block was removed. You need to query the result for a TX with persistenceCore q tx <hash> instead
• Upgrades persistence-sdk from v2.0.1 to v2.1.1
• Upgrades pstake-native from v2.0.0 to v2.2.3
• Adds wasm-bindings for querying state

New Modules

• IBC hooks
• PFM (Packet Forwarding Middleware)
• Persistence x/oracle - disabled for now, WIP
• Persistence x/liquidstakeibc - this deprecates lscosmos module
• Skip's POB v1.0.3 for MEV auctions

MinCommissionRate

• MinCommissionRate is set to 5%, which was proposed here

  Note
  During upgrade,
  Validator's CommissionRate will be set to 5%, if it is lower than the MinCommissionRate (i.e. 5%),
  and Validator's MaxCommissionRate will be set to 10% (if lower than 10%) to give validator some margin to work with.

MinInitialDepositRatio

• MinInitialDepositRatio is set to 25%, which means a proposal cannot be submitted with deposit lower than 25% of MinInitialDeposit

MinSelfDelegation

Due to LSM implementation, the min-self-delegation flag has no effect anymore and this param is no longer being enforced. Min self delegation is removed from the staking system with the expectation that it will be replaced by the validator bond system. It has been superceded by ValidatorBondFactor. To study its definition and side effects, see Validator Bond in ADR-61.

LSM Params

• ValidatorBondFactor is set to 250
• GlobalLiquidStakingCap is set to 10%
• ValidatorLiquidStakingCap is set to 50%

About pStake v2.2.x

This is a major release for the pStake app, focused on enhancing the liquid staking capabilities of the platform and increase its future functionality and adaptability.

Other dependencies and upgrades

Checkout the release log v8.0.0 and release log v8.1.0 for what's changed.

How to upgrade

• Upgrade using cosmovisor
• Upgrade manually

Communications

Operators are encouraged to join the #validators-discussion channel of the Persistence Community Discord. This channel is the primary communication tool for operators to ask questions, report upgrade status, report technical issues, and to build social consensus should the need arise. If you don't have access, please reach out to someone from the Persistence team directly.