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feat(smart-contracts): UP/UDT swap contract #13876
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relates to #13875 |
clemsos
commented
May 23, 2024
clemsos
commented
May 23, 2024
clemsos
commented
May 23, 2024
Tokens on Base Sepolia:
Try the workflow
example tx: https://sepolia.basescan.org/tx/0x024c51dc08912ed0403f9dc26b3f94e9dc760c0ce64fa9ce68acfe41f19fcdb3 |
ok @bytes032, this is the PR in which we're adding the contract to be audited. Please bear with us as we're cleaning this up! |
Hey @marvinkruse please check this PR regarding the audit! |
Hey @julien51 - thank you for tagging me, checking it out! |
julien51
approved these changes
Jun 27, 2024
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Description
This is a contract to swap UDT for UP.
Unlock Labs is planning to submit a proposal to the DAO to "move" to Base. This includes deploying a new Governor Contract, a new Timelock contract, as well as a new governance token contract, called UPToken. (Unlock Protocol Token).
However, we want this new token to be a "replacement" for the legacy UDT contract, which means that the only way to "receive" UP tokens is to bridge UDT to Base and then send the UDT tokens to a Swap contract. The amount of UP tokens received is based on a fixed redeem rate of 1000 for 1.
We also want the contract to support the "opposite" operation that would let anyone who owns UP tokens redeem them for legacy UDT, as the inverse rate of 1000 for 1.
Issues
Fixes #
Refs #
Checklist:
Release Note Draft Snippet