# Anchor vault upgrade. On-chain voting announcement **URL:** \ **Category:** Proposals\ **Created:** [September 26, 2023, 2:30pm UTC](https://research.lido.fi/t/anchor-vault-upgrade-on-chain-voting-announcement/5538 "2023-09-26T14:30:17Z")\ **Posts on this page:** 7\ **Page:** 1
**Author:** ![logach](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/logach/32/806_2.png) [@logach](https://research.lido.fi/u/logach)\ **Post date:** [September 26, 2023, 2:30pm UTC](https://research.lido.fi/t/anchor-vault-upgrade-on-chain-voting-announcement/5538/1 "2023-09-26T14:30:17Z")
## Context In June 2022, a [proposal](https://research.lido.fi/t/sunsetting-lido-on-terra/2367) was published on the research forum to discontinue the stETH \<\> bETH Anchor integration. A follow-up [snapshot](https://snapshot.org/#/lido-snapshot.eth/proposal/0xe964fb2b0ad887673a0748b025c68a957a4b05b604d306bdc66125e7b758e524) vote ratified the proposal. ## Upgrade announcement The current announcement proclaims an implementation of the proposal above (in the form of the `AnchorVault` on-chain upgrade together with necessary actions with UI frontends and auxiliary tooling). The hosted UI frontend ([https://anchor.lido.fi/](https://anchor.lido.fi/)) would be shutting down after **November, 6th**. It will be still possible to withdraw stETH funds by burning bETH either via [Etherscan](https://etherscan.io/address/0xA2F987A546D4CD1c607Ee8141276876C26b72Bdf#writeProxyContract) or via the IPFS version of the widget. The upgrade action plan is as follows: - run a vote to perform an upgrade to the AnchorVault which prevents bETH from minting; - stop the rewards distribution bot; - sunset the hosted version of the Anchor widget UI. ## Rewards distribution notice At the moment of writing, ~2768 stETH is locked on the [contract](https://etherscan.io/address/0xA2F987A546D4CD1c607Ee8141276876C26b72Bdf). Upon the vote enactment (if supported), users will no longer be able to submit stETH and mint bETH. The withdrawal of funds continues to work without deadline boundaries, however rewards distribution will be discontinued and bETH holders redeem their stETH with 1:1 ratio except only for scaling penalties down on hypothetical severe protocol losses. ## Tentative timeline - Oct-3-2023 (Tue): Start Aragon voting. - Oct-5-2023 (Thu): Main voting phase ends. - Oct-6-2023 (Fri): - Objection phase and overall voting conclude. Enactment if passed. - Update [https://anchor.lido.fi/](https://anchor.lido.fi/) for supporting a new version - Shutdown the reward distribution bot - Nov-6-2023 (Mon): Discontinue support of the hosted UI ([https://anchor.lido.fi/](https://anchor.lido.fi/)), add IPFS version of UI ## Technical details A list of the major [`AnchorVault`](https://github.com/lidofinance/anchor-collateral-steth/blob/c186bf3bb89f2945646a76a4e033030c4ea2842a/contracts/AnchorVault.vy) changes: - added a deprecation notice - disabled `submit` function - users cannot submit stETH and mint bETH anymore - disabled `collect_rewards` function - removed `can_deposit_or_withdraw` function - removed `emergency_admin` - only DAO Agent can pause or resume the contract now - cleaned up unused addresses, variables, interfaces and constants ## Voting script The voting script [item](https://github.com/lidofinance/scripts/pull/184) is planned to be added to omnibus onchain vote. ## Note on timings and contingencies In case of operational obstacles or last-minute security findings, the Anchor Vault upgrade will be rescheduled, and new dates will be communicated here in the thread. ## Discussion Please let us know if you have any additional input or sentiment about this announcement. ---
**Author:** ![Misha\_Statemind](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/misha_statemind/32/2741_2.png) [@Misha\_Statemind](https://research.lido.fi/u/Misha_Statemind)\ **Post date:** [September 27, 2023, 10:34am UTC](https://research.lido.fi/t/anchor-vault-upgrade-on-chain-voting-announcement/5538/2 "2023-09-27T10:34:38Z")
Hello, [statemind.io](http://statemind.io) here. We were tasked with a code review of the anchor vault upgrade We are glad to report that no open vulnerabilities were found. Cheers, and happy sunsetting ๐Ÿ™‚ ---
**Author:** ![TheDZhon](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/thedzhon/32/800_2.png) [@TheDZhon](https://research.lido.fi/u/TheDZhon)\ **Post date:** [September 27, 2023, 10:55am UTC](https://research.lido.fi/t/anchor-vault-upgrade-on-chain-voting-announcement/5538/3 "2023-09-27T10:55:37Z")
Thank you for posting the announcement and providing all of the explanations ๐Ÿ‘ The code is good and safe for me and looking forward to seeing this story end gracefully. NB: an IPFS version of the widget will be deployed and shared here later on. ---
**Author:** ![GrStepanov](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/grstepanov/32/254_2.png) [@GrStepanov](https://research.lido.fi/u/GrStepanov)\ **Post date:** [September 29, 2023, 8:52am UTC](https://research.lido.fi/t/anchor-vault-upgrade-on-chain-voting-announcement/5538/4 "2023-09-29T08:52:36Z")
Hi there, Gregory of [the Lido Audits Committee](https://research.lido.fi/t/lido-on-ethereum-form-audits-committee/3481) here. Chiming in to add more color regarding the security assessment of this upgrade. Considering audit options we found the risks imposed by this upgrade on the protocol participants and stakeholders to be fairly limited. - In fact, the total amount of stETH held in the Anchor vault is currently under 2,800 stETH, and is not expected to increase since the integration isnโ€™t live for a long time now. - Besides, the contracts involved arenโ€™t connected to the Core protocol, Oracle, and DAO contracts in any way, which isolates risks from other Lido assets. - Additionally, the scope of the upgrades includes changes that we found to be somewhat trivial, while a full-fledged audit would require significant time, effort, and funds to add little security. Based on the reasons above, it has been decided to only submit the code to our long-time partners at Statemind for external review โ€“ on top of already pretty robust internal Lido security standards. I would like to thank @Misha_Statemind and the team for their exemplary performance (just as ever). ---
**Author:** ![zuzu\_eeka](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/zuzu_eeka/32/1157_2.png) [@zuzu\_eeka](https://research.lido.fi/u/zuzu_eeka)\ **Post date:** [October 3, 2023, 5:47pm UTC](https://research.lido.fi/t/anchor-vault-upgrade-on-chain-voting-announcement/5538/5 "2023-10-03T17:47:45Z")
The new one on-chain voting has started! [https://vote.lido.fi/vote/165](https://vote.lido.fi/vote/165) It includes several topics for voting. Item 10 is dedicated to the Anchor Sunset. Please check out and submit your votes! ---
**Author:** ![zuzu\_eeka](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/zuzu_eeka/32/1157_2.png) [@zuzu\_eeka](https://research.lido.fi/u/zuzu_eeka)\ **Post date:** [October 6, 2023, 6:55pm UTC](https://research.lido.fi/t/anchor-vault-upgrade-on-chain-voting-announcement/5538/6 "2023-10-06T18:55:01Z")
[The voting](https://vote.lido.fi/vote/165) was successful and supported by the DAO. Enactment tx [Ethereum Transaction Hash (Txhash) Details | Etherscan](https://etherscan.io/tx/0xcd406d8439cf7b635ede687ea4fbe6d3e3a7d33e1a16c78ca5ba304ac06cb415) The implementation for Anchor vault has been changed. Users cannot submit stETH and mint bETH anymore. The full list of changes is available in the initial post. > [@logach](#): > > ## Technical details > > A list of the major [`AnchorVault`](https://github.com/lidofinance/anchor-collateral-steth/blob/c186bf3bb89f2945646a76a4e033030c4ea2842a/contracts/AnchorVault.vy) changes: > > - added a deprecation notice > - disabled `submit` function - users cannot submit stETH and mint bETH anymore > - disabled `collect_rewards` function > - removed `can_deposit_or_withdraw` function > - removed `emergency_admin` - only DAO Agent can pause or resume the contract now > - cleaned up unused addresses, variables, interfaces and constants Thank you to everyone who voted ๐Ÿ™ ---
**Author:** ![logach](https://dub1.discourse-cdn.com/flex013/user_avatar/research.lido.fi/logach/32/806_2.png) [@logach](https://research.lido.fi/u/logach)\ **Post date:** [November 10, 2023, 8:54am UTC](https://research.lido.fi/t/anchor-vault-upgrade-on-chain-voting-announcement/5538/7 "2023-11-10T08:54:56Z")
Anchor widget supporting has been discontinued. [UI](https://anchor.lido.fi/) redirects to IPFS version now. Thanks to everyone for participating!