Contract Address: 0x8762db106b2c2a0bccb3a80d1ed41273552616e8
TL;DR
- The RSR token will be permanently locked as a result of the contract update occurring on 13th January 2022.
- The RSR team have issued the following statement: “[…] if you are currently staking RSR on a decentralized platform such as Uniswap, Balancer or Bancor, you need to withdraw your staked funds before 01/13/2022 11:59 PM UTC or your funds will be irreversibly locked forever.”
- Therefore, the RSR pool should have deposits disabled, to prevent naive users from adding any additional liquidity prior to the contract update.
- Withdrawals will continue as normal.
- Of course, our community should do as much as possible to help inform the RSR liquidity providers of the urgency in removing their funds from the pool, prior to the contract update.
Voting Instructions
- To disable deposits on the existing RSR pool, and protect unwitting DeFi users from locking themselves out of their tokens, vote FOR this proposal.
- To continue to allow deposits of RSR prior to the contract update on the 13th January, after which users will be locked out of their RSR tokens, vote AGAINST.
Reserve is Updating its Token Contract
In a Medium blog post that appeared on 25th December 2021, it was announced that the RSR token contract would be updated to its final version on 13th January 2022, at 11:59 PM UTC. For many, the update is trivial. The blog post has stated that RSR holders using any centralized exchange, or popular software or hardware wallet are essentially already covered:
“If you are currently holding RSR in a centralized exchange or popular wallet (both software or hardware), no action will be required from your end. The Reserve team is currently in the process of contacting all relevant entities to update RSR’s contract address, which will result in your RSR balance automatically being updated to the new contract.”
Unfortunately, for those participating in DeFi with the RSR token, it is not so easy:
“However, if you are currently staking RSR on a decentralized platform such as Uniswap, Balancer or Bancor, you need to withdraw your staked funds before 01/13/2022 11:59 PM UTC or your funds will be irreversibly locked forever. The reason behind this is that these decentralized platforms use hardcoded contract addresses for each pool. After 01/13/2022 11:59 PM UTC, the current RSR contract (used in these pools) will no longer allow any sort of transaction.”