Quick update on the Phase 1 of Tokenomics (dev side):
The hPAL codebase was reviewed during the past week, through a Code4rena contest.
We received some good feedback on the code, and this contest allowed to find any issue that slipped through our team tests & verifications. We are currently reviewing all the findings from the contest, fixing and updating all the part of the code that needed to be (you can follow the changes here if you wish). At the same time, our team is building some nice interface so you can have tes best experience, and get all the infos you need about your PAL & (future) hPAL.
From a finding in the C4 contest, a discussion on the hPAL system that was not yet started was initiated, concerning the Locking part of the system:
The current locking system allowed anyone (users & smart contracts) to lock without any difference. But this kind of system could allow any system to wrap the hPAL locking system into a liquid token without any concern for the Paladin DAO.
As we consider this type of system could be beneficial, safeguards need to be implemented to protect the hPAL system, the future tokenomics, and the Paladin DAO. To cover that, an update of the codebase was prepared, and is currently tested, to add a smart contract checker system, using a Whitelist to allow only approved smart contracts to create Locks.
This Whitelist system is the same used by veCRV, veANGLE, and others veTokens. This checker can be, at any time, through a Governance decision, removed or activated. And any Protocol/DAO wanting to create such wrappers around hPAL will need to go through our Governance process to gain that privilege.
As a DAO, we now need to decide how we want that Checker system to be:
- Activated day 1, or later on ?
- Keep a Whitelist system ? Pivot to a Blacklist system ?
- What should be the Governance process to be whitelisted ?