SIP 11: Allow fee period to be closed by any address Source

AuthorNocturnalsheet
Discussions-Tohttps://discord.gg/CDTvjHY
StatusImplemented
Created2019-07-10

Simple Summary

This SIP proposes to allow SNX weekly fee period to be closed by any wallet address

Abstract

Currently only authorised wallet address is able to send the close fee period transaction to the fee pool contract and this auto bot closing has failed twice already in the last 2 weeks

Motivation

Weekly close of fee period gives all minters their weekly SNX and sUSD rewards so it is highly important that the close is done on time as we have seen in the last 2 fee period close, minters become more uneasy in discord when they don’t see their rewards awarded at the regular snapshot timing. Getting paid on time as a minter is apparently quite a big thing for minters, myself included.

Specification

Allowed address to close fee period - Any Fee Period Close is true: Minimum 168 hours (7 days) lapse from last close

Rationale

By allowing any wallet address to close the fee period, we can expect the fee period can be closed without much delay in almost any situations, even in network congestion where any minter can manually pay for high gas fee to close the fee period

Test Cases

Not required at this stage

Implementation

FeePool.closeCurrentFeePeriod() is now open for anyone to publicly call. For the latest FeePool Contract see here https://developer.synthetix.io/api/docs/deployed-contracts.html.

The FeePool Authority Service is still hosted and will run every 10 minutes to check if FeePool.recentFeePeriods[0].startTime <= (now - feePeriodDuration). If so it will call FeePool.closeCurrentFeePeriod(). However if this service is down for what ever reason any SNX holder may call this to reveal the claimable rewards for everyone.

Copyright and related rights waived via CC0.