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Increase daily limit for xDai withdrawals from the xDai to the Mainnet

Hi xDai bridge validators,

We have already started to adapting the xDai bridge to current situation with growing popularity of the xDai bridge: Increase daily limit for Dai deposits from the Mainnet to the xDai. But now the daily limits on the xDai bridge are imbalanced: users will be able to transfer 10’000’000 Dai from the Ethereum Mainnet to the xDai chain in one day but they will be rejected to do the same in opposite direction since the daily limit for the withdrawal operations is 100’000 xDai.

We are proposing to synchronize limits to satisfy the possible users expectations by making the daily limit for the withdrawal operations (transfers from the xDai to the Ethereum Mainnet) to be 10’000’000 xDai.

In order to acheive this, we need to change the daily limit on the xDai chain and the execution limit on the Ethereum Mainnet. They must be equal to each other.

If you agree to change the limit for withdrawals from the xDai chain to 10’000’000 xDai please perform the following:

  1. Import your xDai bridge validator private key to the MetaMask or NiftyWallet.
  2. Visit the multisig wallet contract in the BlockScout.
  3. Enter to the field next to the method confirmTransaction the transaction ID 6.
  4. Press the “Write” button.
  5. In the MM/NW section change the gas to 500’000 and confirm the transaction.
  6. Visit the multisig wallet contract in the Etherscan. Connect the currect MM/NF account to Web3.
  7. Enter to the field next to the method confirmTransaction the transaction ID 10.
  8. Press the “Write” button.
  9. In the MM/NW section change the gas to 500’000 and confirm the transaction.

We also suggest to finalize the configuration actions that was started to increase deposits to 10 mln.. We changed the execution limit on the xDai chain there, but it is necessary to change the daily limit on the Ethereum Mainnet side as well. To finalize the changes, do the following:

  1. Visit the multisig wallet contract in the Etherscan. Connect the currect MM/NF account to Web3.
  2. Enter to the field next to the method confirmTransaction the transaction ID 11.
  3. Press the “Write” button.
  4. In the MM/NW section change the gas to 500’000 and confirm 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.

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This is transactions the multisig participant from POA Network project made to initialize transactions for the suggested changes:

  1. To set the daily limit on the xDai chain: https://blockscout.com/poa/xdai/tx/0x40eb65827b4c1aea0ac656339712fefa756fdb627986ee4718e479a4d3f0e5f3/logs. It suggests to execute 0xb20d30a9000000000000000000000000000000000000000000084595161401484a000000 on 0x7301CFA0e1756B71869E93d4e4Dca5c7d0eb0AA6 that corresponds to the call setDailyLimit(10000000000000000000000000).

  2. To set the execution daily limit on the Ethereum Mainnet: https://etherscan.io/tx/0x99e5366dc58b6edfeb6f5fc4a8ccd154e15b85cdd37efb9d38d2ea425b14e3aa. It suggests to execute 0x3dd95d1b000000000000000000000000000000000000000000084595161401484a000000 on 0x4aa42145aa6ebf72e164c9bbc74fbd3788045016 that corresponds to the call setExecutionDailyLimit(10000000000000000000000000).

  3. To set the daily limit on the Ethereum Mainnet: https://etherscan.io/tx/0x35614f384dcb0c72bd543cf10773b9fe37d65eb485589cc79502994d57372477. It suggests to execute 0xb20d30a9000000000000000000000000000000000000000000084595161401484a000000 on 0x4aa42145aa6ebf72e164c9bbc74fbd3788045016 that corresponds to the call setDailyLimit(10000000000000000000000000).

The correspondence of the ABI encoded method call to the human readable form of the call can be checked if you take ABI:

[
  {
    "type":"function",
    "stateMutability":"nonpayable",
    "payable":false,
    "outputs":[
      
    ],
    "name":"setDailyLimit",
    "inputs":[
      {
        "type":"uint256",
        "name":"_dailyLimit"
      }
    ],
    "constant":false
  },
  {
    "type":"function",
    "stateMutability":"nonpayable",
    "payable":false,
    "outputs":[
      
    ],
    "name":"setExecutionDailyLimit",
    "inputs":[
      {
        "type":"uint256",
        "name":"_dailyLimit"
      }
    ],
    "constant":false
  }
]

and use it on the service: https://abi.hashex.org/#

1 Like

@geleeroyale/@GriffGreen, @mgarcia/@ArseniiPetrovich and @mariano.conti/@savdao please take into consideration.

You will need to submit 3 transactions: 1 tx to the xDai chain, 2 txs to the Ethereum Mainnet.

2 Likes

Done

xDAI: confirmTransaction the transaction ID 6.

https://blockscout.com/poa/xdai/tx/0xa46f18efb719ba9760efb2fe5f0c6406b599cc7b1111e8f83b574597a0b8048b

Main net: confirmTransaction the transaction ID 10.

https://etherscan.io/tx/0xe6c3c5951918bf0abfea99280ef131adc7f92ac751c613b1efba4d4016e2214f

Main net: confirmTransaction the transaction ID 11.

https://etherscan.io/tx/0xc31f9b5ded0a248957f736a0e2e42d9563326c18196ec30c766b270b4523451e

2 Likes

Thank you soooooo much for making it easy to verify! https://abi.hashex.org/# IS FUCKING AWESOME :smiley: I had never used it before, I will use it a lot from here on out! You are a superstar! Thank you!

Confirmed tx 6 on xDAI Multisig:

Confirmed tx 10 on ETH Multisig:

Confirmed tx 11 on ETH Multisig:

2 Likes

Thanks! The limits were updated successfully.

1 Like