The 3.4.0 release of the Reserve Protocol V1 is now available for adoption on Mainnet and Base.
In order to make upgrading to 3.4.0 easy, ABC Labs has prepared an upgrade “spell”; a contract that will handle the majority of the onchain calls necessary to complete the upgrade. The spell contains 2 steps: (i) an upgrade step; and (ii) a cleanup step. The spell has been audited by our security partner, Trust Security. It should only be used on the following RTokens: eUSD, ETH+, hyUSD (mainnet), USDC+, USD3, rgUSD, hyUSD (base), bsdETH, iUSDC, Vaya, and MAAT.
🚨 It is highly recommended that any of the mentioned RTokens upgrading to 3.4.0 choose to do so using this spell as opposed to crafting a proposal on their own 🚨
The spell contracts are non-upgradeable and contain hard-coded addresses for:
This means that after the 3.4.0 upgrade each RToken will have new Governance and TimelockController contracts to interact with. Despite already being deployed, the new governance contracts are unusable until after step 1 is executed, at which point in time they become canonical.
Among other things, a benefit of upgrading to 3.4.0 is an improvement to RToken pricing that enables lending markets and other integrators to use RTokenAsset.price() to price RTokens, enabling RTokens to be used in lending markets more natively.
Other effects: