Chain Migration from Razor Schain to Europa Liquidity Hub

[yohanelly95]

Overview

This proposal outlines the migration process from Razor Schain to the Europa Liquidity Hub. The migration is driven by the upcoming release of the Razor Network Oracle V2 protocol, which improves consensus speed while maintaining decentralisation, permissionless access, and Proof of Stake (PoS) attributes.

Objectives

• Enhanced Performance: Leverage the Oracle V2 protocol, reducing consensus time for price feeds from 20 minutes to 5 minutes—a 4x improvement in speed.
• Sustainable Growth: Ensure long-term sustainability by migrating to the Europa Liquidity Hub.

Migration Plan

1. Oracle V2 Protocol Upgrade

• Deploy Contracts: Upgrade to the Razor Network Oracle V2 protocol, this includes the Contracts for the Razor Oracle V2 protocol as well as the RAZOR token.
• Upgrade Nodes: Node operators (stakers) will need to update their Node versions and restake tokens on the Europa Liquidity Hub chain to be considered for block rewards.

2. Gradual Migration Process

• Manual Unstaking: Users will be allowed to unstake and migrate their tokens manually to the Europa liquidity hub chain.
• Sunset Date for Razor Schain: We will set a sunset date for Razor Schain, after which the migration will be completed automatically.
• Auto-Migration: Users who choose not to migrate their tokens manually (high potential gas cost borne by user if manually migrated) will be airdropped their tokens on the new chain near/on the sunset date.
• Restaking/Redelegating: All Stakers and Delegators will need to re-stake their tokens to participate in the protocol.

3. Final Migration and Token Airdrop

• Automatic Token Migration: Upon reaching the sunset date, all remaining tokens on Razor Schain will be migrated by the team.
• Airdrop on Europa Chain: Migrated tokens will be airdropped to the same addresses on the Europa Liquidity Hub Chain.

4. Communication and Support

• User Guide: A comprehensive guide for users to manually migrate their tokens will be provided once the plan is finalised.
• Announcement: Regular updates and announcements leading up to and during the migration once the dates are fixed.

Note: This is an initial discussion without any finalised dates. We intend to make sure the Razor Network Oracle remains unaffected during the transition, and a transition period will be allowed for Stakers and Delegators to migrate their tokens if they choose to. But if the deadline is missed, there is no issue we will migrate all tokens and airdrop them to their respective owners on the Europa Liquidity Hub chain.