Community Update #16 - First Rollup Fix and Proposal

First Proposal Live + Hotfix that increases individual HBT rewards for deposits

A week has passed since Habitat went live on Mainnet. During this week the Habitat rollup was working as expected and without any major incident. 🎉

In the meantime, small interface bugs and a hotfix have been identified. The team is still working on smaller and bigger visual changes - including a full revamp and inclusion of the “Evolution” page.

🚨 Twitter Update: The @0xHabitat is still restricted, we are working on regaining access by re-submitting KYC-tickets every couple hours. Thank you for the patience!

First Rollup Hotfix 🚒

The Habitat Rollup was updated yesterday (06th July 2021), following the discovery of a minor logic bug concerning the yield distribution of the rollup. The TVL calculation and corresponding reward calculation are now fixed after the first test and trials with the Reward Pool.

What was going on?

The logic was calculating HBT located in rollup vaults as having a share in the reward pool. In previous announcements and initial planning, these vaults are specifically excluded from the reward calculation. If not fixed, the Habitat Community Reserve would have the major reward for each epoch.

Following the fix, we informed the Habitat Community members to visit their reward balances and double-check the results.

First On-Chain Proposal 🕊️

After successful Liquidity Mining Programs on Ethereum Mainnet concluding with the Habitat Rollup Launch, the Genesis Team is opening the Habitat Community Governance with a first On-Chain proposal to be voted on.

Full Proposal

The Proposal is already live and can be discussed and voted on for one full week.
Transfers defined in the proposal will be active after a successful passing and finalizing the proposal.

Summary of the Proposal Content

  • Due to a postponed launch, the community funds designed to support liquidity were not available on Mainnet, the Genesis Team used their liquid funds to reward LP’s.

  • The Genesis Team is proposing to now reimburse the funds on the Habitat Rollup. Team funds will be used for voting, issuing bounties and other strategic operations.

  • To define the synergy between team and community even further, the Genesis Team will top-up the reward pool with 20,000 HBT from the funds received, as a tribute for the community.

Action Points for HBT-Holders ☝🏻

  1. Read the proposal, ask relevant questions if you are not sure what is going on.

  2. Visit the Habitat Rollup and deposit your HBT to vote.

  3. Decide on your preference and cast your vote within the voting period.
    The voting period ends on: 14th of July 2021

Habitat Docs Updated 📚

Please visit our consistently updated Habitat Docs to learn more about the Rollup and how to interact with it. Check the pages and learn how to Deposit, Exit & Transfer. All relevant Contracts are linked as well.

If you are missing something, feel free to commit a .md to the documentation repo 🌞

All relevant platforms are currently being updated with the latest Habitat Branding, which was introduced last week and will be further defined along the way.

Signals & Feedback always welcome!

Help us get better and fix even quicker, use the App and report bugs and errors!

Please report all feedback and issues in our official channels.