[Proposal] TIP 2: Extend TRU contract Lockout Time by 90 days

Proposals
1

Summary
Extend the TrustToken contract upgrade lockout time by 90 days in order to avoid being locked out before ownership of the contract is transferred over to the TRU governance contract.

Background
The TrustToken smart contract is upgradable but includes a ‘lockout’ time- after this time the contract can never be upgraded again. This lockout time was meant to help force decentralization of the protocol, which we are moving rapidly towards. Until this lockout time is hit, it can be extended by the owner. Right now the owner is the company multisig but in the future it will be the TRU governance smart contract (see the Github repo) that will own all TrueFi & TRU smart contracts.

Motivation
We’d like the TRU smart contract to be upgradable by TRU governance once it ships, and therefore we need to extend the lockout time at least until the governance smart contract can take over ownership.

Specification
Extend the lockout time by exactly 90 days. We believe that this will be ample time to transfer the TRU smart contract to the new governance smart contracts.

Do you agree with TIP2: extend the TRU contract lockout time by 90 days?
  • :white_check_mark: FOR
  • :no_entry_sign: AGAINST

0 voters

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2

Did you mean to hyperlink?

What date is the contract set to expire? And +90 days would be approximately what date?

3

Sure.

Feb 1st, 2021 is the current expiration, so +90 days would be May 2, 2021

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