BCIP-9: Upgrade to v2.4

Context

The purpose of this proposal is to upgrade the BandChain to v2.4. This upgrade will roll-out these features on Bandchain

• Bump cosmos-sdk to v0.45.10 and ibc-go to v3.3.1 to fully support state sync and ICA-host
• Increase the throughput for oracle module by ~10X from optimizing owasm runtime
• Increase the MaxGas per block to 50M Gas

Upgrade block and date

This upgrade is expected to occur at block 11525000. (Estimate date is November 21, 2022 at 14:00 UTC)

On-Chain Upgrade Process

When the network reaches the halt height, the state machine program of the BandChain will be halted. This classic method for upgrading requires all validators and node operators to manually substitute the existing state machine binary with the new binary. We recommend validators to use Cosmovisor to swap the binaries automatically. Because it is an on-chain upgrade process, the blockchain will be continued with all the accumulated history with continuous block height.

Instruction to migrate to use cosmovisor: https://github.com/bandprotocol/launch/blob/master/laozi-mainnet/docs/migrate-bandd-binary-to-cosmovisor.md

Instruction to prepare v2.4 binary: https://github.com/bandprotocol/launch/blob/master/laozi-mainnet/docs/prepare-for-upgrade-v2.4.md

Effects

• Users/Developers: After the upgrade, you will need and are advised to redeploy your oracle scripts to reduce used gas for oracle requests

For full details of upgrade please see this article: https://medium.com/bandprotocol/bandchain-v2-4-upgrade-70dbb896618c