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Find the forum post here: [Hidden link]

OVERVIEW The Hydro Team deployed its first instance of Vortex as a first test of the mechanism on 18th of August. Vortex contracts wrap an LP position on Osmosis to allow one side of the LP position to serve as a collateral on the other side.

During this test run, an issue in the smart contract around tokens with 18 decimals was discovered, which prevents withdrawals.

This proposal seeks to update the admin address of the two currently live Vortex smart contract instances to the contracts position admin address in order to facilitate a mitigation of the problem. This new admin address is the Osmosis cross-chain address of the Hydro committee DAO.

These contract instances currently have no admin address. There is a “position admin address” in the contract state, which allows managing some aspects of the contracts, but doesn’t allow for contract migrations, so is not sufficient to solve the issue.

Vortex contracts are designed to be ephemeral. After the admin change has been performed and the withdrawals are successful, the contract instances will not be used further. For future instances, we will mitigate the concrete issue by deploying fixed contract code which can deal with 18 decimal tokens. Additionally, we will set the contract admin address to the Hydro committee multisig in order to be able to migrate the contracts in case there are further similar problems.

Smart contract instances: [Hidden link] [Hidden link]

You can check the position admin address on the smart contract instances by viewing the state, e.g. see [Hidden link]

New admin address: [Hidden link]

You can double-check the Osmosis address of the Hydro committee here: [Hidden link]