Hifi Improvement Proposal (HIP) 1
Here Is Your Opportunity to Contribute to Hifi’s Future.
Published in
2 min readMar 24, 2022
To kick off the Hifi DAO, this first proposal from the core team introduces several technical improvements, software updates, and a new license.
You can find the full proposal on the Hifi Forum.
This blog post serves as an introduction to the proposal, giving time to MFT token-holders to already withdraw their MFT from exchanges, so they can vote on the proposal once it launches on Snapshot.
Prepare to vote on this upcoming proposal by getting your MFT off of exchanges and into your own hardware or software wallet.
HIP 1 Overview
What follows is a brief outline of the proposal which you can find on the Hifi Forum.
- Make Fintroller non-upgradable: Given the Fintroller contract is not holding any value as it’s just a permissions controller, there is no reason to leave it as upgradeable.
- Fix low-severity bug in Repay Borrow event: A low-severity bug was recently found by one of our engineers in the Hifi v1 protocol and this release brings a fix for it.
- Rearchitect underlying backed hTokens: This logic has been removed from the balance sheet and placed in the hToken implementation.
- Update the Software License: Change the current license (LGP 3.0) to the BUSL-1.1 license to prevent unauthorized forks during the next 2 years, similar to what Uniswap did with its v3 release.
- Upgrade to Solidity v0.8.12: This new version of Solidity improves the JavaScript / Wasm binary and fixes several bugs. It also offers a partial migration to Typescript.
- Upgrade to latest versions of PRBMath: The leading advanced fixed-point math library which we have created has had several small updates in the past few months.
- Add support for EIP-2612 Signature token approvals: Users can now authorize the spending of their tokens in the same transaction as the actual spending of their tokens. This should greatly improve the overall user experience of Hifi v1.
