This CIP serves to align the stakeholders of CIP-0105 (SV Locking) and CIP-0116 (FA Locking) on the implementation of on-chain enforcement of SV and FA locking. It is motivated by the fact that the concrete mechanisms chosen to implement locking have a material impact on the operability of SVs, FAs, and staking apps.
The proposed implementation closely follows the high-level guidance laid out by these two CIPs except for the following three minor changes:
Add a grace period for underlocked FA rights during which they are only temporarily suspended. The grace period defaults to seven days and can be changed by SV voting. It serves to reduce the trust that FA operators need to have in their lock owners; and thus increases the expected total amount locked by FA locks.
Require locks to lock a minimum amount to avoid “dust” locks whose management overhead surpasses their value. The minimum lock amount defaults to 10k CC and can be changed by SV voting.
Support configurable controllers for unlocking, substitution and withdrawing vested funds to simplify building staking apps.
The CIP further clarifies the technical integration between wallets and locks; and it proposes incremental delivery and migration paths. Thereby creating clarity for the work required from the stakeholders to land on-chain enforcement of SV and FA locks on MainNet.
Dr. Simon Meier | ||||
Principal Architect | ||||
Creators of Canton | ||||
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