Hi xDai bridge governance participants!
We disturb you this time for another important decision.
Last winter the xDai bridge contract was changed to keep some amount of funds in Chai tokens. Chai tokens is a mechanism that allowed to interact DSR (Dai Savings Rate) feature of MakerDAO. The idea was to accumulate the interest received from the locked DAI tokens as so distribute it among the xDAI consensus validators. But, as you prabably know, DSR is 0.0% almost all the time last monthes. At the same time the xDai bridge users and the bridge oracles are spending gas to swap DAI to Chai (it happens automatically if the DAI tokens balance is greater some threshold). We even received a complaint from a user about this waste of gas. That is why we suggest to disable support of the Chai token in the xDai bridge. As part of the action to disable the support all Chai tokens will be swapped back to the Dai tokens automatically.
If you agree with this proposal, please perform the following:
Visit the xDai bridge governance Gnosis Safe: https://gnosis-safe.io/app/#/safes/0x42F38ec5A75acCEc50054671233dfAC9C0E7A3F6/transactions.
Connect to the Safe with the key that corresponds to the address you specified on the call to register in the governance account.
Choose the transaction with ID 16. The transaction nonce is 14.
Check that the data of this transaction corresponds to the method
removeChaiToken()and that the contract to execute this method is the bridge contract
Confirm (or confirm and execute) the transaction.
If you have any question or issues appeared during the described steps, write a note below this forum post. As soon as you send a transaction with confirmation, reply to this message.