BondingV2 Update

The bonding v2 upgrade was officially deployed on 31 July 2021.

The final stages of end-to-end testing is taking longer than expected, but is still being worked on at the time of writing.

<aside> ⚠️ During this quality assurance period, rewards emissions have been temporarily disabled.

</aside>

Currently

• UBQ rewards emissions are paused.
• Bonding V1 UBQ minting privileges have been revoked.
• Bonding V2 rewards emissions rate is set to 0.

Why revoke UBQ minting permissions for Bonding v1?

To provide some context to the change of minting permissions from v1 to v2, as part of our global token minting permissions manager design we only allow for a single dedicated smart contract slot per module of our protocol.

We replaced the sole recognized bonding contract for UBQ minting permissions from v1 to v2.

This design forces us to be deliberate with smart contract permissions. For example it would be very difficult to have defunct contracts come back to cause issues for the protocol later with any minting related exploits.

Stay tuned on Discord and Twitter while we finish end-to-end-testing-in-production for updates.