Welcome to the Protocol team update on the Sommelier Cellars release! This week we continue with the audit on Aave cellar smart contract and the team's delivery of Steward and Cellars release.
In preparation for the Aave cellars release scheduled earlier for June 1st, the Sommelier team has achieved the following milestones:
Validators Upgraded and Running Steward
On Friday, 13th June 2022, validators successfully upgraded their network and running steward. The Sommelier Cork upgrade proposal was submitted on the 2022-05-11 16:34 UTC and passed after voting ended on 2022-05-13 16:34 UTC. Initially, the validators ran Gorc, a command line tool in the Gravity bridge. However, this upgrade will enable them to utilize Steward and the Cork feature.
The Cork module is responsible for facilitating consensus around Cellar-specific contract calls. Cork provides governance mechanisms for approving new Cellars for Sommelier management, and APIs for submitting both ad-hoc and scheduled contract calls to the Gravity module.
First, the system was brought to a halt and validators running sommelier-3 upgraded to the v2.0.1 of the Gravity bridge and v1.0.1 of Steward in what has been termed one of the fastest and smooth upgrades in the Cosmos ecosystem.
Steward instances are a public-internet-facing port at a domain added to our Steward Registry repository. This is not for users but is solely for Strategy Providers (initially, only Peggy JV) to connect to. The connection between the Strategy Provider and Steward will be authenticated and encrypted via TLS 1.3.
UI is Complete
The user interface for the Sommelier website is complete. This interface comprises a means for users to participate in Cellars stablecoin strategies. We are excited to show off the amazing UI design that Strangelove has created for Sommelier. It will be available for early viewing by validators.
Smart Contract for the Aave Cellar was Audited
The smart contract for the Aave stablecoin Cellar was audited in preparation for the launch initially scheduled for Jun 1, 2022. However, some bugs/vulnerabilities were found in the contract and fixes sent to our auditors.
Here in Sommelier, safety is our top priority. Therefore, we won’t be launching Cellars on June 1st as planned. We’re currently waiting for our auditors to review the changes we’ve made. A new launch date will be communicated to the public Once our fixes have been reviewed by our auditors. Next, we’ll submit a governance proposal to activate the Cellar after the auditors are done with auditing changes made to the Cellar smart contract.
To learn more about Sommelier, please visit https://sommelier.finance/
To participate in the community, please join the Telegram group https://t.me/getsomm.
To follow the project on Github, please star the project https://github.com/PeggyJV/sommelier.
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