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This is a proposal to do a software upgrade to the v19.0.0 software tag of the Osmosis codebase on block height 11317300, which is estimated to occur on Tuesday September 5th, UTC 16:00. Block times have high variance, so please monitor the chain for more precise time estimates.

Upgrade Features

This upgrade adds the following features:

Taker Fee Implementation Parameters to enable a Taker fee on Osmosis have been added.

• The initial global taker fee parameter is set to 0 and will need to be activated by governance.
• Distribution parameters have been set according to [Hidden link] and [Hidden link]
• Stakers initially receive:
  • 100% of OSMO value collected.
  • 67% of Non-OSMO value collected which is swapped to OSMO before distribution, similar to the mechanism by which Transaction fees in non-OSMO assets are distributed.
• The Community pool receives:
  • 33% of Non-OSMO value collected.
  • Takes the form of the Quote asset involved in the transaction.
  • Transactions not involving a Quote asset will swap to a governance adjustable asset, initially USDC, before being sent to the community pool.
• This is an adjustment to the value distribution method mentioned in [Hidden link] due to issues with gas usage when claiming a wide variety of tokens discovered during implementation and a change to the expected mechanism of taker fee implementation when using pools with Quote assets.
• Acceptance of this proposal approves the software upgrade using this modified implementation. Further information is detailed [Hidden link].
• Taker fee rates for specific denom pairings can be adjusted via governance or by a whitelisted address parameter which is initially not set.

Superfluid Staking Fix Voting power for Superfluid stake was removed during the expedited v18 software upgrade. This software upgrade restores all voting power provided to validators through Superfluid Stake.

See the [Hidden link] for more API Breaking, State Breaking and other miscellaneous changes.

Getting Prepared for the Upgrade

To build the binary, be sure to install golang 1.20.

As always, we recommend validators utilize 64GB of RAM. Since state migration is relatively negligible in this upgrade, it is possible to get away with less, but still not recommended. If you are unable to have 64GB of RAM, at a minimum have a total of 64GB of swap set to prevent out of memory errors.

If using Cosmovisor, manually build & copy the osmosisd binary to /cosmovisor/upgrades/v19/bin/.

If not using Cosmovisor, wait for your node to halt at the upgrade height, then install and run the v19.0.0 binary.

Details of Upgrade Time

The proposal targets the upgrade proposal block to be 11317300, anticipated to be on Tuesday September 5th, UTC 16:00. Note that block times have high variance, so keep monitoring the time. See countdown [Hidden link].

The upgrade is anticipated to take approx 30 minutes, during which time, there will not be any on-chain activity on the network.

In the event of an issue at upgrade time, we should coordinate via the validators channel in Discord to come to a quick emergency consensus and mitigate any further issues.