The Alhena Release

matt -

Later today (December 16, ~00:00 UTC), the Alhena release will begin. Here's what's included in this release:

  • SIP-188: Add sETHBTC synth on L1: Adds a synth to L1 that mirrors the ratio of prices between ETH and BTC.
  • SIP-194: Fix Liquidations on L2: Fixes an error in liquidations that didn't allow L2 liquidations to function correctly.
  • SIP-195: L2 Multi ETH Collateral Loans: Allow users to borrow synthetic assets against ETH on L2.

After the Menkalinan release, the updated liquidation function wasn't publicly callable on L2, which didn't allow for liquidations to occur. To correct this, the contract was updated to allow for it to be publicly callable, and liquidations are now fully enabled on L2.

The sETHBTC synth will function similarly to all other synths; it will trade at the oracle price of ETH:BTC from Chainlink. Here's an example of how it will work:

  • ETH/USD price = $4000
  • BTC/USD price = $50000
  • sETHBTC oracle price = 0.08 sUSD

This release is called Alhena, which like all releases, is named after a star (in order of visual magnitude). If you've got any comments or questions about the release, please join the conversation in Discord.