Release Notes

Release Procedure is defined in the CONTRIBUTING document.

v6.0.1

This is a bug fix release for the leverage.MsgGovUpdateSpecialAssets handler.
We also added umeed q ugov emergency-group CLI query. Users were able to query the Emergency Group address using REST.

CHANGELOG

v6.0.0

Highlights:

• We introduce Special Assets: a new primitive to optimize positions in x/leverage.
• New inflation mechanism.
• Emergency Groups.
• Full Gravity Bridge removal. We don't include GB module any more in Umee.
• New MsgLeveragedLiquidate.MaxRepay which allows to limit the liquidation size using the leveraged liquidation mechanism.
• Renamed ugov EventMinTxFees to EventMinGasPrice.

New Inflation Mechanism

The Upgrade Handler sets the following values to the Umee x/ugov Inflation Cycle parameters:

• max_supply = 21e18uumee (21 billions UMEE)
• inflation_cycle = time.Hour * 24 * 365 * 2 (2 years)
• inflation_reduction_rate = 2500 basis points (25%)

The new Inflation Cycle will start on 2023-10-15 15:00 UTC. This will mark the first inflation reduction from the current rates:

• inflation_min 7% → 5.25%
• inflation_max 14% → 10.5%

The x/staking Bonded Goal stays the same: 33.00%.

Emergency Groups

Currently, any parameter update requires going through a standard governance process, which takes 4 days. In a critical situation we need to act immediately:

• Control IBC Quota parameters (eg disable IBC)
• apply safe updates to oracle, leverage or incentive module parameters.

Emergency Group can trigger safe parameter updates at any time as a standard transaction. The Emergency Group address is controlled by the Umee Chain governance (x/gov) and can be disabled at any time.

Validators

libwasmvm update

Our dependencies have been updated. Now the binary requires libwasmvm v1.3.0. When you build the binary from source on the server machine you probably don't need any change. However when you download a binary from GitHub, or from other source, make sure you update the /usr/lib/libwasmvm.<cpu_arch>.so. For example:

• copy from $GOPATH/pkg/mod/github.com/!cosm!wasm/wasmvm@v1.3.0/internal/api/libwasmvm.$(uname -m).so
• or download from github wget https://raw.githubusercontent.com/CosmWasm/wasmvm/v1.3.0/internal/api/libwasmvm.$(uname -m).so -O /lib/libwasmvm.$(uname -m).so

You don't need to do anything if you are using our Docker image.

Min Gas Prices

Since v4.2 release we request all validators set a minimum-gas-prices setting (in app config/app.toml file, general settings). We recommend 0.1uumee which is equal the current Keplr average setting:

minimum-gas-prices = "0.1uumee"

Upgrade instructions

• Download latest binary or build from source.
• Make sure libwasmvm.$(uname -m).so is properly linked
  • Run the binary to make sure it works for you: umeed version
• Wait for software upgrade proposal to pass and trigger the chain upgrade.
• Swap binaries.
• Ensure latest Price Feeder (see compatibility matrix) is running and check your price feeder config is up to date.
• Restart the chain.

You can use Cosmovisor → see instructions.

Docker

Docker images are available in ghcr.io umee-network repository.