DSL September 2021 Upgrade

[Seb_EthMonk]

Summary

This is a proposal for the on-chain vote IGP#3 - DSL September 2021 Upgrade. This on-chain vote will group several updates and changes into one cohesive upgrade.

Proposal

Modifying Voting Parameters:

Currently when on-chain proposals are submitted, the voting period begins immediately and users need to delegate and assign voting power before the vote goes on chain. You can take this proposal itself as an example; to participate in this vote you had to have delegated your voting power prior to the team submitting this vote.

Reason:

Adding a 2 day voting delay will allow INST tokenholders to delegate and assign voting power after a proposal is submitted on chain and will help increase voter participation. The Voting Period is currently set to slightly above 2.5 days, this will modify the voting period to 3 days. This will result in a one week on-chain voting process: 2 Day Delay + 3 Day Vote + 2 Day Queue

Adding Support for ERC-721 and ERC-1155:

The team is submitting several changes to add and improve how the DSA accounts handle ERC-721 and ERC-1155s. This adds a couple functions related to these two token standards including: ERC721Received(), ERC1155Received(), and ERC1155BatchReceived().

For more information please review the PR for this change here:

https://github.com/Instadapp/dsa-contracts/pull/48

Reason:

These changes will support and improve the experience of NFTs on the DeFi Smart Account and the larger DeFi Smart Layer.

Beta Mode:

This update adds Beta Mode and makes it accessible to all accounts. Beta Mode will allow DSA accounts access to upcoming and experimental features. Users who do not wish to try out these changes do not need to enable this on their accounts. For more information please see the Development Post about Beta Mode here: Beta mode on Smart Accounts

For more information please review the PR for this change here:

https://github.com/Instadapp/dsa-contracts/pull/42

Reason:

Beta Mode will allow greater flexibility when it comes to launching changes to the DeFi Smart Layer; this allows a balance between continual development and allowing long term users to continue using the protocol more reliable releases.

Code Changes:

Main PR with all the updates above combined:
https://github.com/Instadapp/dsa-contracts/pull/50

Result:

• Modifies the Voting Parameters by introducing a 2 Day Delay thus extending the voting period
• Adds better support for ERC-721 and ERC-1155 standards
• Adds the Beta Mode function to DSA Accounts

Proposal on Atlas

Status: Passed

IGP#3 - DSL September 2021 Upgrade

[Seb_EthMonk]

IGP#3 - DSL September 2021 Upgrade has passed!
The team will submit and execute the protocol changes in the following week.

This upgrade includes a new feature called: Beta Mode. You can learn more about this feature in this development post:

Beta mode on Smart Accounts

Summary Add the ‘Beta Implementation’ to the DSL, this implementation will be a staging version of the DSL. DSA account users who want to access new features and in the final testing phase can access them through this module. Proposal Instadapp has grown exponentially since the token & protocol (DSL) launch; currently, Instadapp has a TVL of $9B+. DeFi Smart Accounts v.2 is the most advanced smart account, being both infinitely extendable and upgradable with the use of account extensions. The…

The first feature enabled via Beta Mode will be Automated DeFi Limit Orders. The contracts for this extension are currently being audited. Beta Mode works on a per account basis so you can create a second account if you want to use a separate account for Beta Mode Features.