https://etherscan.io/tx/0x372a2b940b62629fb2ec4499121440f08573fe5e719346be21a26b20d242a500
gm or gn,
As you may recall, there is a bug in the lending pool that prevents funds from being returned back to the lending pool reserve. This would prevent an upgrade to the lending pool or usage of some of those funds for alternative lending pool implementations (such as to support Uniswap pairs).
We will be doing maintenance to extract the funds from the X7LendingPoolV1 and returning that ETH to the X7LendingPoolReserve.
This will be accomplished by:
- Deactivating all lending terms contracts.
- Setting the liquidation reward to 0.
- Deploying a modified loan term contract that allows for the repayment amount to be set to 0 and a loan limit that includes the entire pool.
- Deploying a token contract (which will only allow the deployer to transact so that no market activity can take place).
- Originating a loan for the entirety of the lending pool.
- Setting the repayment amount to 0.
- "paying" the liability, effectively ending the loan.
- Removing the liquidity from the pair (which is permitted because the lending pool has registered that the loan was repaid).
- using returnETH on the LendingPoolReserve contract to return the ETH without minting any additional X7D.
After this is done we can deploy a fixed lending pool contract.
Hopefully this also highlights the sensitivity of some of the protocol functions that would allow an authorized address to call these functions.
This is appropriate for a nascent protocol for exactly the reasons which should be clear (being able to not have 63 ETH stuck forever on a V1 contract).
But calling of these kinds of functions must be guarded heavily, especially as TVL grows.
