Whitelist an address for code storage and instantiation of Timewaves Persistence LS Smart Contracts

Governance
1

Proposal

Persistence Labs developed Timewave Persistence Liquid Staking Smart Contracts to facilitate Covenant v2 for managing funds in Protocol-Owned-Liquidity deals such as Cosmos Hub Prop 853, in a trustless manner.

However, the current setup of the Persistence Core-1 chain restricts wasm module usage to a permissioned framework to prevent spam related to code storage and instantiation. This requires each smart contract code to undergo a proposal approval process by the chain governance, leading to delays in deployment and upgrades.

To streamline operations, it is proposed that the Persistence Contributor’s multi-sig address to be whitelisted for permissionless code storage and instantiation.

This adjustment will expedite the deployment and upgrade processes, ensuring efficient functioning of Timewave’s Persistence Liquid Staking Smart Contracts.

Summary of the Contracts

This Cosmwasm contract serves as the foundation for interchain liquid staking services via Timewave covenants to execute IBC transfers with liquid staking memos seamlessly.

In this context, the contract on the Persistence chain collaborates with Timewave covenants on Neutron, effectively showcasing its interoperability and integration capabilities.

|519.1178144646198x474
|519.1178144646198x474768Ă—701 67.2 KB

In the above flow, this is the contract on Persistence, showing how it works with Timewave covenants on Neutron.

It’s important to note that this contract is designed to support additional features aimed at minimizing user interventions. For instance, it facilitates both liquid staking and IBC transfers in a single operation. Additionally, users have the option to include an IBC receiver in the memo. Consequently, once the contract completes the liquid staking process, it can automatically execute the IBC send to the specified recipient.

Codebase

Github Repo GitHub - persistenceOne/ica-liquid-staking
Audit Completed by Hexens

Next Steps

  1. Collect community’s feedback on this proposal

  2. Submit the Persistence governance on-chain proposal with a specified multi-sig address that needs to be whitelisted

  3. Whitelist the address for permissionless code storage and instantiation of the Timewave Persistence Liquid Staking Smart Contract

2

Thanks for bringing this to the forum!

Is it intended to be able to upload, update and instantiate all types of contracts?
Or will it (in words) be limited to specific contracts?

I am aware that there is a limited route to be able to check what actually is being done. On Osmosis it is limited in words, but a lacking route to check if the projects actually stick to the agreements.

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3

Hello Persistence Community! After internal discussions and reconsiderations, we’ve identified a more effective approach: proceeding with a single proposal for the store code and the instantiation of the liquid staking contract. This eliminates the need for address whitelisting, as initially proposed.

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4

Only ups and no downs?

This won’t bring other limitations, risks, opportunities along?

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