Adjusted xDAI Migration

Right now Ethereum gas is extremely high and the xDAI migration is still many weeks away at the current pace.

There is the possibility of us accelerating the xDAI deploy in a “test in production capacity”.

This means we would deploy the Bao farming contract to xDAI with:

  • Fewer pools to start, and add more over time.
  • Minor adjustments to account for the different block times on xDAI.
  • No 1:1 swap for the $BAO.cx to $BAO being ready.
  • No timelock for the first week (just like we did on main net incase fast adjustments are needed).
  • Incomplete testing.

That deploy could happen as early as late next week or the week after if we choose to approve it.

During this time we’d have the xDAI farms have their regular planned rewards but we would not reduce the rewards on Ethereum until the pre-planned date of March 1st.

This would have significant risk if we choose to pursue it and for the first few weeks, users should only consider migrating non-essential funds (AKA funds they predict they would lose 100% of if there was an error)

I am posting this in concepts to see how many users are interested in this accelerated timeline to deal with gas, given the downside and risks it will hold.

Update: I am glad to see that for the most part users agree we should keep the March 1st date. I’ll continue to let this discussion develop and see if sentiment changes but early indication is that we’re all on the same page of not moving up the timeline.

17 Likes

Honestly, I don’t see the rush to migrate to xDai. Gas prices are high, yes. It is prohibitive for new users, primarily those with smaller amounts they want to stake. But I do not think that encouraging all those traders who are discouraged from using the main chain to move to an untested xDai pool is worth it. I think Bao should continue doing due diligence on their contracts, deploying them when they are ready as determined by the team.

28 Likes

I generally agree but it is up to the community as well and so I want to make sure we at least explore and voice all options.

4 Likes

I think an accelerating of xDAI migration for test purpose is beneficial. Gas fee might rise faster than we expect. Do it! We can also find bugs once it is rolled out.

1 Like

As a softawe engenieer I prefer to deploy production after everything have been tested.

PD: log in with discord does not work for me.

15 Likes

That is outlined in the main post. Reward discount would not be accelerated.

1 Like

Prefer to have it tested thoroughly in test env rather than production, any exploits taken advantage of in production would be detrimental to a projects standing even if it is still a test roll out with minimal pools, especially in the crypto community… some projects NEVER recover.

11 Likes

Yes, gas prices are high, and community members are eager. Gas prices will go lower, but live testing is never a good idea. Just look at the guys on BZX, it was an audited code, but somehow 2 bugs got unnoticed, and the community scattered in no time. They are still on the ground since.

I doo support the method of testing first, production after. Do not give in to the few greedy that are here for the quick buck. Their hands are usually the weakest.

14 Likes

I vote for not rushing the xdai migration. As some has mentioned already, the high gas fees are hurting new adoptors more than those who are already farming. The last thing that we want to do is to push new adoptors away even more with pushing out buggy code to xdai and loosing all of their funds. Ensuring a smooth transition will be more beneficial for the long term success of Bao.

13 Likes

I would prefer to keep the current timeline. As much as I test in production, it’s not a great habit, especially in a case where large amounts of financial assets are involved.

8 Likes

The downside is unlikely to be exploits.

It would more likely be errors of changes related to xDAI having a shorter blocktime which would mean a risk of changes to the fees or the pace of issuing if we got something wrong.

Both of those seem to be adjustable.

Other than that it would only be the standard configuration risks such as halving time coordination that we had with the original contract deploy.

We will still be using the same pool code we are using on the main net so there is no greater or lesser risk of exploit.

6 Likes

I would be happy to test on the xDAI network with some non critical funds - my preference would be whatever lends itself to reaching the full migration with the most confidence. Also would taking the adjusted xDAI migration route affect in anyway the expected timeline for beginning of march for the remaining pools?

IMO, working under “rush” feeling is not good. You can sometimes overlook some tiny errors that could lead to a bigger problem. It is better to use the pre-planned date. Just ~3 weeks more.

3 Likes

I see no reason to push up the migration. We have established a date of March 1st and we should stick to it.

4 Likes

I agree that pushing it through faster might not be such a great idea… Yearn have had some costly exploits as a result of growing too quickly for the space.

If the deadline of 1st March is putting pressure on the team to get the product out, working longer hours into the night can cause even the best dev to make errors. Good things take time and you (BaoMan and team) have done a great job.

it’s come a long way even in the last couple of weeks, if taking a bit more time means a smoother and more stable transition, I’m all for that :)

6 Likes

Good idea, but I would personnaly go with testing first
Maybe few pre-selected users can help with test validation in order to give it a bit of volume, but I believe you need to pay atttention not to extend to all users as in case of issue it can kill the project for a while and we will lose confidence from users.
The issue with cloudfare was creating some bad background noise in the chat - Hopefully this was impacting only few users.

1 Like

I would rather stick to schedule. We have a set date, it was thought out and decided on well in advance, it will simply confuse the lesser involved and integrated members to change it even for a test. Why risk making any mistakes? It’s an absolutely crucial step that we all hope goes smoothly. If we moved it up and it went poorly it would affect the price which, while I understand it’s not your main interest, Baoman, would lead to many unhappy later investors.

8 Likes

I like the idea, but would prefer stability and simplicity for the roll-out. I feel that if we did a multi stage roll-out this would lead to a a lot more support questions, taking up the time of the dev team.

2 Likes

I am glad to see that for the most part users agree we should keep the March 1st date. I’ll continue to let this discussion develop but early indication is that we’re all on the same page of not moving up the timeline.

10 Likes

Sorry 1 more thought not completely related with the topic, but that could help to make the project more visible and keep the momentum until xDAI migration → Add BAO on Defi Pulse (BAO will appear as number 22 on Defi based on TVL)

1 Like