Merge pull request #31 from citycoins/feat/ccip-21

CCIP-021: Extend Direct Execution Sunset Period - 2

README.md

@@ -7,7 +7,9 @@ The CCIPs describe the design, implementation, and governance of the CityCoins P
 
 ## CCIPs in the Process of Being Activated
 
-(none)
+| CCIP Number                                                                    | Title                  |
+| ------------------------------------------------------------------------------ | ---------------------- |
+| [CCIP-021](./ccips/ccip-021/ccip-021-extend-direct-execute-sunset-period-2.md) | Extend Sunset Period 2 |
 
 ## Ratified CCIPs
 

ccips/ccip-021/ccip-021-extend-direct-execute-sunset-period-2.md

@@ -0,0 +1,84 @@
+# CCIP-021
+
+## Preamble
+
+| CCIP Number   | 021                                   |
+| ------------- | ------------------------------------- |
+| Title         | Extend Direct Execute Sunset Period 2 |
+| Author(s)     | Friedger Müffke [email protected]      |
+| Consideration | Governance                            |
+| Type          | Standard                              |
+| Status        | Activation-In-Progress                |
+| Created       | 2024-04-04                            |
+| License       | BSD-2-Clause                          |
+| Supplements   | CCIP-012                              |
+
+## Introduction
+
+When the ccd001-direct-execute[^1] Clarity contract was deployed, a sunset height of approximately 6 months was set,
+after which the extension will no longer be able to execute proposals. More information can be found in issue 26 of the governance repository.[^2].
+
+The current sunset height is 147,828. After that block height no proposal can be executed anymore. In preparation of CCIP-020[^3], an extension is required now.
+
+This CCIP intends to:
+
+- implement the CCIP-015[^4] voting mechanism as part of a DAO proposal
+- extend the sunset period by an additional 25,920 Stacks blocks, ending at Stacks block 173,748
+
+## Specification
+
+The proposal will call `set-sunset-block` in ccd001-direct-execute[^1] with the value of `173748`.
+
+### Proposal Voting
+
+Proposal voting will be performed using the method described in CCIP-015[^4].
+
+Voting will begin when the contract is deployed and continue for a set number of blocks.
+
+> Note: The end of the voting period needs to allow enough time to execute the proposal and extend the sunset period. This will need to occur before Stacks block 147,828.
+
+Votes will be counted two ways in the contract: a general total of yes/no votes, and the total number of votes based on the amount of CityCoins stacked in cycles 80 and 81.
+
+The voting code is part of the CCIP-021 smart contract proposal[^5], which tracks user votes between the voting period.
+
+It also restricts the `execute` function in the proposal so that it cannot run unless:
+
+- the vote is concluded
+- the total votes are > 0
+- the yes votes > no votes
+
+The criteria above are the same as CCIP-017[^6].
+
+## Backwards Compatibility
+
+This CCIP is supplemental to CCIP-012[^7] and CCIP-017[^6].
+
+## Activation
+
+This CCIP will be voted on and activated using a vote contract that adheres to CCIP-015[^4] using the last two active cycles from when the contract is deployed.
+
+Currently, this would be:
+
+- MIA cycles 80 and 81
+- NYC cycles 80 and 81
+
+The scale factor for MIA was determined using the same formula used in CCIP-015[^4] and calculated based on the total supply at the start block of the first cycle and the end block of the last cycle.
+
+- MIA scale factor: 0.8916 _(prev: 0.8823)_
+
+The calculations used for the scale factor are available in the supplemental spreadsheet[^8].
+
+## Reference Implementations
+
+- ccip-021-extend-sunset-period-2[^5]
+
+## Footnotes
+
+[^1]: https://explorer.hiro.so/txid/SP8A9HZ3PKST0S42VM9523Z9NV42SZ026V4K39WH.ccd001-direct-execute?chain=mainnet
+[^2]: https://github.com/citycoins/governance/issues/26
+[^3]: https://github.com/citycoins/governance/blob/feat/add-ccip-020/ccips/ccip-020/ccip-020-graceful-protocol-shutdown.md
+[^4]: https://github.com/citycoins/governance/blob/feat/add-ccip-015/ccips/ccip-015/ccip-015-community-proposal-voting-process.md
+[^5]: https://github.com/citycoins/governance/blob/feat/ccip-21/ccips/ccip-021/ccip-021-extend-direct-execute-sunset-period-2.md
+[^6]: https://github.com/citycoins/governance/blob/feat/add-ccip-017/ccips/ccip-017/ccip-017-extend-direct-execute-sunset-period
+[^7]: https://github.com/citycoins/governance/blob/main/ccips/ccip-012/ccip-012-stabilize-emissions-and-treasuries.md
+[^8]: See the [ccip-021-vote-calculations-per-ccip-015 spreadsheet](./ccip-021-vote-calculations-per-ccip-015.ods)