- Adding LunaX as a collateral on Mirror
- Minor fix on Collector Contract
Migration Time: Feb 17th 2022, 05:00AM UTC
Adding LunaX as a collateral on Mirror
Currently, the collateral supported on Mirror Protocol are mAssets, UST, LUNA and aUST.
Recently a poll to support LunaX as a new collateral type passed:
Although passed, the poll was a text poll which does not execute any changes to the Mirror Protocol, or its contracts. To support LunaX, the following contract needs a migration:
- Mirror Collateral Oracle: https://github.com/Mirror-Protocol/mirror-contracts/pull/88
Minor fix on Collector Contract
Mirror Collector contract is responsible for gathering all the 1.5% protocol fee generated from all the burn transactions from Mirror’s borrow and short positions, swapping them to MIR tokens and distributing those MIR tokens to MIR stakers.
After recent update to Redirect MIR-UST rewards to Astroport, the operation to convert all UST to MIR failed due to default slippage set on Astroport’s MIR-UST pair contract (0.5%).
Approximately 251,626 UST is stuck in Mirror Collector contract at the time of this writing, and in order to execute the swap from UST to MIR, maximum slippage should be set to a number higher than 0.5%:
- Add maximum slippage as
convertexecute message occurs from Mirror Collector contract.
In order to increase the tolerated slippage for Mirror Collector operation to swap into MIR tokens, the following contract needs a migration:
- Mirror Collector: https://github.com/Mirror-Protocol/mirror-contracts/tree/main/contracts/mirror_collector
If the poll passes by majority
YES votes, members of the Mirror community will migrate these contracts in order to add LunaX as collateral type and to increase the maximum slippage from the Collector contract to 5% when swapping UST into MIR tokens.
No additional user action is required to prepare for this migration process.