Prop 243: Pirin v0.7.0

Summary

This on-chain upgrade governance proposal is to adopt the Nolus v0.7.0 update for the Nolus Pirin (pirin-1) mainnet which is currently running on v0.6.8. This upgrade introduces the following changes:

• Enhanced Fee Abstraction Mechanism: The fee abstraction process now directly uses the minimum fee amount as a parameter, eliminating the need to query the Oracle or use NLS as the basis.

• Unordered ICA Channels: Interchain Accounts (ICA) channels will now default to unordered channels upon opening a new lease position.

• Bug Fix: Querying old tax params proposals has now been fixed.

On-Chain Upgrade Process

At the designated halt height, the Nolus network's state machine will stop functioning temporarily. Validators and node operators must manually replace the existing state machine binary with the updated version. Coordination among validators is encouraged and can be facilitated through the "chat" channel in the "Validators" section on Discord. The target block for this upgrade is 10380000, estimated to occur on Monday, 27th January 2025, at approximately 10:30 UTC. This estimation assumes an average block time of 3.55 seconds.

Alternatively, validators may leverage Cosmovisor to automate the binary upgrade to v0.7.0. Ensure the latest version is used to successfully implement the upgrade.