TUSD Smart Contract Update Request

Hey folks, we would like to make a small update to the TUSD smart contract and want to get the thumbs-up from the AAVE team & community before doing so. We’ve already contacted the AAVE team and they will be posting an update once they’re finished reviewing the new code. Thanks for your help.

Details on the update:

  • On Sept 16th we upgraded the TUSD smart contract based on feedback from the Maker and AAVE teams. This upgrade massively simplified the TUSD smart contract but also left out one feature which we’re now realizing was important: supporting our legacy (pre-Jan 2019) TUSD smart contract.

  • The legacy contract was launched in March 2018 before the upgradable proxy pattern was standard, and instead of full upgradability, it included the ability to forward transfer() calls to a new address. We migrated to an upgradable proxy in Jan 2019 with a full announcement and instructions for integrators.

  • After the on Sept 16th, we were contacted by IDEX who is having the following issue: they were continuing to rely on the legacy TUSD smart contract, and while they are able to integrate the new TUSD smart contract, their smart contract is unable to understand that ‘old TUSD’ balances are actually now ‘new TUSD’ balances (of course all balances are moved over, the old smart contract just forwards calls similar to a 301 redirect on the web). This issue with IDEX affects about $130k TUSD.

  • We want to make sure these IDEX users are taken care of and that’s why we’re requesting this change.

Of course we would not perform an upgrade without the AAVE team & community reviewing the new implementation. The new implementation has already been audited, both code and audit are linked below.

Thanks for working with us, and please let us know if you have any questions or concerns.

Relevant links:

From the Aave Risk Team perspective, everything looks correct on the new implementation @rafaelcosman and, taking into account the scope of the change and the attached audit, we don’t see any problem in what concerns the Aave protocol to proceed with the update

4 Likes

Thanks @eboado- we’ll be commencing the upgrade shortly. Will post here once it’s complete. Thanks again for working with us on this!

UPDATE: TUSD upgrade is complete. Post-upgrade tests have passed. If you encounter any issues, please let us know.

For reference, this TXN performed the upgrade: https://etherscan.io/tx/0x9b3084b24ae7a0869ef73b845417a2e7a8162167434263c14770c75db9e0a7a4

:wave:

1 Like