Code Cleanup for Deprecated BTCX Leveraged Positions (and Bug Fixes)

MOC Improvement Proposals
1

:memo: MIP#262702

Overview

The Money on Chain protocol previously supported leveraged positions known as BTCX, which were deactivated in February 2023 through the Technical proposal for removal of leveraged positions. However, deprecated code related to the daily inrate payment logic for these leveraged positions remains in the codebase, even though this functionality is no longer being used. This cleanup removes the obsolete code, reducing unnecessary complexity and improving code maintainability.

Proposed Changes

The deprecated code related to leveraged positions inrate payment logic will be removed from the protocol contracts. This cleanup ensures:

  • Gas & Cost Efficiency: Reduces gas consumption and eliminates daily operational costs for BPRO holders
  • Improved Code Quality: Cleaner, more maintainable codebase that is easier to read and understand
  • Enhanced Auditability: Simplified code analysis for security auditors and reduces the attack surface by eliminating unused logic

Technical Implementation

:warning: Warning: some technical/coding knowledge is necessary to fully understand this document

This code cleanup for deprecated BTCX leveraged positions will be implemented through the changes introduced in the Remove dailyInratePayment #119 pull request, which removes unused contract-level code.

2. Additional Protocol Improvements

The following changes are independent from the code cleanup for deprecated BTCX leveraged positions and are included in this proposal as protocol maintenance and improvement tasks.

Since a governance upgrade process is already required, these changes can be executed together, reducing operational overhead and avoiding the need for additional governance proposals.

2.1 Non-critical Bug Fix: Unsupported Pegged Token Addresses in ROC Queue Transactions

:information_source: Info: Although non-critical, we will fix it as part of this upgrade to avoid a separate governance proposal and reduce operational overhead.

Description

Some functions that enqueue transactions into the RIF on Chain protocol currently allow unsupported pegged token addresses to be passed as arguments. These transactions are known to fail later when pending queue execution is processed, creating unnecessary gas costs for users and delivering the false impression that the operation was supported.

Fix

The RIF on Chain queue-enqueue functions will validate that any token address passed as an argument corresponds to a peg token supported by the protocol before accepting the transaction into the queue. This change prevents unsupported pegged token transactions from being queued and avoids later execution failures and unexpected user expense.

Summary

This proposal improves the long-term maintainability and reliability of the Money on Chain protocol by:

  • removing deprecated BTCX leveraged-position code and obsolete daily inrate payment logic
  • reducing protocol complexity and improving auditability
  • saving gas and eliminating the marginal daily operational costs for BPRO holders
  • preventing unsupported pegged token transactions from being queued in the RIF on Chain queue
  • avoiding later queue execution failures and unexpected user expenses

Together, these changes simplify the protocol codebase, reduce operational risk, and support better transaction handling for queued operations.

Governance Process

As with all protocol-level changes, this proposal will be submitted to a governance vote.

The upgrade will be executed only after:

  1. Proposal approval through governance
  2. Deployment of the changer contract
  3. Execution of the upgrade transaction

Technical Procedure

:warning: Warning: some technical/coding knowledge is necessary to fully understand this document.

The upgrade will be executed through a changer contract, which will:

  • Remove deprecated BTCX leveraged-position code and obsolete daily inrate payment logic from the relevant contracts
  • Add validation to queue-enqueue functions so unsupported pegged token addresses cannot be accepted as transaction arguments

Changer Contract

The changer contract to vote would be:

Name Address (and link to verified code in RSK blockscout explorer)
HardeningII 0x23ceA36Ad14137DFcD3b309ffdbA354588350864

Existing Contracts to be upgraded

The following contracts are already part of the protocol and will be upgraded for the code cleanup for deprecated BTCX leveraged positions:

Name Type Address
MocV1 Proxy 0xf773...68370
MocV1 Implementation 0xa60c...07250
MocV1 New implementation 0x8cf0...5D226
MocStateV1 Proxy 0xb9C4...1e257
MocStateV1 Implementation 0x1D82...06722
MocStateV1 New implementation 0xF65B...01186
MocExchangeV1 Proxy 0x6aCb...49038
MocExchangeV1 Implementation 0xFc88...B6FC1
MocExchangeV1 New implementation 0x9Bfb...1b53C
MocInrateV1 Proxy 0xc0f9...0A3F3
MocInrateV1 Implementation 0xe9B1...ac918
MocInrateV1 New implementation 0x2ffc...c031A
MocBProxManagerV1 Proxy 0xC4fB...03b6c
MocBProxManagerV1 Implementation 0xeE35...a4e89
MocBProxManagerV1 New implementation 0xa34f...Bdd5a

The following contracts are already part of the protocol and will be upgraded for the 2.1 Non-critical Bug Fix: Unsupported Pegged Token Addresses in ROC Queue Transactions:

Name Type Address
RifBucket Proxy 0xA270...aA36A
RifBucket Implementation 0x1a27...Fec54
RifBucket New implementation 0x7D41...d3FdC
DocBucket Proxy 0x6975...84661
DocBucket Implementation 0xF920...F5a9B
DocBucket New implementation 0x2f5b...b3b66
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:mega: Call to MOC holders: This proposal is being voted on. How to vote Tutorial. Use the voting site.

:mega: Llamado a los MOC holders: Esta propuesta se está votando. Tutorial de cómo votar. Usar el sitio de voto.

3

:mega: The voting process is over:

  • 28.9% of the MOC tokens total supply participated in the vote.
  • 100% voted in favor.
  • No one vote voted against the proposal.
  • The change was successfully implemented.

TX ID: 0x8f699df3fffc89ef48dacc91f80e2788a4a7f1fa6b6b32a11e83ae95fe1ab9cf