The Notifier was added to the ECO protocol through EGP 002. It is a scaffolding contract that can communicate the generation increment to outside contracts. The proposal post is here and the submitted proposal to governance is linked here. The proposal successfully passed in the 3rd generation of the Protocol.
The Notifer can be used to sync the Uniswap v2 pools containing Eco as part of the pair. Specifically, this will help the pool ensure that it can stay up to date with the latest changes to linear inflation, as Uniswap’s pricing of the token will need to reflect this. The notifier will call to the pool atomically with the generation increase, removing skimming when the inflation multiplier changes.
The only way to make a pool support rebasing is to add it to the Notifier, which can only be done via protocol Governance. Currently, the single most liquid pair for ECO on a DEX is the ECO/USDC pool on Uni v2. This post asks for community feedback if this pair should be added to the Notifier.
If there is community support, the protocol team is prepared to create a proposal to add this pool to the notifier in the upcoming generation.
Yes, I think it should be done. That’s a good proposal. I support
I think that ECO/USDC should be added to Notifier, we have to prepare for protocol governance and this proposal will be extremely important to make sure that Uniswap’s pricing is working correctly. I think team should create this proposal as soon as possible.
In laymen’s terms, can you explain what the actual proposal is?
Sure! The proposal adds the univ2 ECO/ETH address to the Notifier so that whenever linear rebase is enacted by the Trustees it atomically syncs the pool using the Uniswap sync function at the start of every new generation. This prevents skimming of the rebase from the pool by a single user and makes sure all Liquidity Providers get the same changes to the liquidity they provide after a rebase.
Some more details on the Uniswap sync function from their white paper
sync() functions as a recovery mechanism in the case that a token asynchronously deflates the balance of a pair. In this case, trades will receive sub-optimal rates, and if no liquidity provider is willing to rectify the situation, the pair is stuck. sync() exists to set the reserves of the contract to the current balances, providing a somewhat graceful recovery from this situation.
Super interesting! Thank you!
I have been talking about Uniswap for a long time. I agree with every word you say.