[PROPOSAL] Support for Flexa Capacity v3

Proposals
1

Proposal Date

2024-10-21

Background

Flexa offers a payment processing platform that enables merchants of all sizes to accept bitcoin, ether, USD Coin, and other digital assets across a variety of different channels (such as in person, online, or in-app). We have long advocated onchain collateralization as the best way to make multi-chain asset acceptance feasible for mainstream retail payments, and proudly contributed to the development of the AMP token in early 2020 alongside ConsenSys and members of the Acronym Foundation team.

The current Flexa Capacity collateralization system (v2) leverages a collateral management strategy that interfaces directly with the AMP token contract. Our team now intends to upgrade this system to a new version (v3) making use of AMP collateral held in the Anvil protocol and replacing the Flexa-operated collateral manager with implementations of Anvil’s TimeBasedCollateralPool.

In order to do this, it is required that:

  1. AMP be added to the list of accepted collateral tokens in the CollateralVault
  2. An initial tranche of newly created collateral pool addresses are approved as Collateralizable Contracts in the CollateralVault to support migration from the existing Flexa collateral pools.

Relevant Contracts

CollateralVault: 0x5d2725fdE4d7Aa3388DA4519ac0449Cc031d675f

Executed Changes

Configures CollateralVault to support AMP via

upsertCollateralTokens([
{	
    enabled: true,
    tokenAddress: 0xfF20817765cB7f73d4bde2e66e067E58D11095C2
}
])

Configures CollateralVault to approve twenty new TimeBasedCollateralPool implementations via

upsertCollateralizableContractApprovals([
{
    collateralizableAddress: pool1,
    isApproved: true
},
{
    collateralizableAddress: pool2,
    isApproved: true
},
{
    collateralizableAddress: pool3,
    isApproved: true
},
{
    collateralizableAddress: pool4,
    isApproved: true
},
{
    collateralizableAddress: pool5,
    isApproved: true
},
{
    collateralizableAddress: pool6,
    isApproved: true
},
{
    collateralizableAddress: pool7,
    isApproved: true
},
{
    collateralizableAddress: pool8,
    isApproved: true
},
{
    collateralizableAddress: pool9,
    isApproved: true
},
{
    collateralizableAddress: pool10,
    isApproved: true
},
{
    collateralizableAddress: pool11,
    isApproved: true
},
{
    collateralizableAddress: pool12,
    isApproved: true
},
{
    collateralizableAddress: pool13,
    isApproved: true
},
{
    collateralizableAddress: pool14,
    isApproved: true
},
{
    collateralizableAddress: pool15,
    isApproved: true
},
{
    collateralizableAddress: pool16,
    isApproved: true
},
{
    collateralizableAddress: pool17,
    isApproved: true
},
{
    collateralizableAddress: pool18,
    isApproved: true
},
{
    collateralizableAddress: pool19,
    isApproved: true
},
{
    collateralizableAddress: pool20,
    isApproved: true
}
])

Please note that the above Collateralizable Contract addresses do not represent the actual onchain contracts, which will be deployed prior to submission of the final governance proposal.

If the proposal as submitted does not include these addresses as beacon proxies pointing to the Governance-owned Beacon (0x1f00D6f7C18a8edf4f8Bb4Ead8a898aBDd9c9E14), Flexa advises voting the proposal down.

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