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[ETHEREUM-CONTRACTS DEVX] Shift fUSDC to 6 decimals #1853

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d10r opened this issue Nov 15, 2023 · 4 comments · Fixed by #2023
Closed

[ETHEREUM-CONTRACTS DEVX] Shift fUSDC to 6 decimals #1853

d10r opened this issue Nov 15, 2023 · 4 comments · Fixed by #2023
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Tag: TechDebt Technical debt that needs to be addressed Team: DevX

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@d10r
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d10r commented Nov 15, 2023

Problem: USDC has 6 decimals while fUSDC has 18.
Applications using fUSDC with the expectation that it behaves like the mainnet counterpart may get burned by this difference.

Solution: change fUSDC to have 6 decimals:

  1. change for new deployments: adjust deployment script
  2. change for existing deployments: requires a one-time "hack"
    a. add logic to SuperToken which allows the owner to change
    b. update fUSDC to this logic
    c. trigger the logic to make the switch to 6 digits
    d. update to canonical logic

To be considered: effect of that change on existing fUSDCx and upgrading/downgrading.
I currently can't think of any particular side effects. But didn't think about it deeply.

@d10r d10r self-assigned this Nov 15, 2023
@d10r d10r changed the title Shift fUSDC to 6 decimals [ETHEREUM-CONTRACTS] Shift fUSDC to 6 decimals Nov 15, 2023
@d10r d10r changed the title [ETHEREUM-CONTRACTS] Shift fUSDC to 6 decimals [ETHEREUM-CONTRACTS DEVX] Shift fUSDC to 6 decimals Nov 15, 2023
@0xdavinchee
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0xdavinchee commented Nov 15, 2023

I would also add permit to USDC, like we did in SuperUpgrader.

@youssefea
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@d10r is this finished?

@hellwolf hellwolf transferred this issue from another repository Mar 5, 2024
@hellwolf hellwolf added the Tag: TechDebt Technical debt that needs to be addressed label Mar 12, 2024
@hellwolf
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I will bundle this to the EPIC of SuperUpgrader story. When we get there, we need an upgraded super token.

@hellwolf
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let's do it in the code base first, anticipating the upgrade to new testnet when Ethereum is 90 years old.

@d10r d10r linked a pull request Sep 23, 2024 that will close this issue
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Labels
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4 participants