** New Proposed Mimir to Update LP Records **.
18 May 2022, 02:21
** New Proposed Mimir to Update LP Records **
After a great number of discussions, it seems like this decision should ultimately be left up to the Node Operators, and there will be a vote on the following new proposed mimir: EnableUpdateMemo-TERRA
Instructions will be sent with the 1.89 Release.
A vote of 1 will enable a new Update memo to be processed on the Terra chain, allowing LPs to update their record. The default value for this will be 0, leaving the system as currently implemented.
Just to recap, once 1.89 is live and LP Actions are enabled on Terra, Terra-RUNE LPers will be allowed to leave the same way they came in. For asym UST/LUNA LPers, this leaves them unable to withdraw their current rune LP share without converting it to UST/LUNA. This is because the LP Record for them only has a terra address, and the system can't currently update an LP Record for security reasons.
Note that this has mostly been a feature, not a bug of THORChain, and there has been an attack in the past that allowed an attacker to maliciously update an LP record.
attacker to maliciously update an LP recSon of Odin and others have expressed concerns about opening up this ability, and we should all take time to consider that this has intentionally not been added up until this point.
That being said, this exact feature was filed as an issue a month ago, and it would be quite helpful in general:
Naturally, if this passes, all eyes will be on it and do absolutely everything that can be done to ensure it is implemented correctly, but we should all be aware this does open up new surface area, and there is time pressure here.
48 Hour Deadline to Vote
Given the May 26 fork deadline for Terra, the protocol needs to move quickly on any solution here. If consensus isn't reached within 48 hours, this will not be considered as part of the TC Terra plan (but may be used in the future).