Executed

Add LP tokens to Anchor, reduce xINV reward rate and withdrawal delay, increase collateral factors and add Fuse Pool 6 Fed


Proposal ID

27

Proposed

Sep 9th, 2021

Result details

37 addresses

7.12K votes

Final Votes

Quorum

Pending

Majority support

Yes

For

7.12K

Against

0

Abstain

0

Actions

Type

Address

Details

Custom

0x65b3...76fE

_setRewardPerBlock(..)

Custom

Account

0x65b3...76fE

Method

_setRewardPerBlock(..)

Custom

0xfD5e...15B6

_setEscrowDuration(..)

Custom

Account

0xfD5e...15B6

Method

_setEscrowDuration(..)

Custom

0x4dCf...7339

_setCollateralFactor(..)

Custom

Account

0x4dCf...7339

Method

_setCollateralFactor(..)

Custom

0x4dCf...7339

_setCollateralFactor(..)

Custom

Account

0x4dCf...7339

Method

_setCollateralFactor(..)

Proposal

This is a large proposal that addresses the following issues:

  • Low DOLA liquidity causing peg issues
  • Low DOLA borrowing demand
  • Low INV liquidity despite Sushi rewards

RATIONALE

The purpose of this proposal is to improve the liquidity situation before Inverse Guard is launched soon after. Inverse Guard is a risk product. Therefore, potential users of Inverse Guard will take risk factors such as DOLA liquidity and peg stability in consideration to make the decision to trust our cover product for long coverage durations. Since INV may act as a backstop for DOLA in an unlikely scenario of extreme DOLA insolvency, INV liquidity should also be considered vital to DOLA's health.

ACTIONS

  1. Add DOLA-3pool Curve LP as collateral-only asset to Anchor (borrowing disabled) with a 70% collateral factor
  2. Add INV-DOLA SLP as collateral-only asset to Anchor (borrowing disabled) with a 70% collateral factor
  3. Set a reward rate of 600 INV per month for supplying DOLA-3pool to Anchor
  4. Set a reward rate of 500 INV per month for supplying INV-DOLA to Anchor
  5. Increase collateral factors of DOLA, ETH, WBTC, YFI, stETH and xSushi to 70% and xINV to 60%
  6. Whitelist DOLA Fed contract for Fuse Pool 6 as a DOLA minter
  7. Reduce xINV reward rate to 1250 INV per month
  8. Reduce xINV withdrawal delay to 10 days
Final Votes

Quorum

Pending

Majority support

Yes

For

7.12K

Against

0

Abstain

0

Final Votes

37 addresses

7.12K votes

Status

Thu Sep 9, 09:21 pm

Published onchain

Wed Nov 3, 10:25 pm

Voting period started

Sat Nov 6, 08:01 am

Voting period ended

Sun Sep 12, 03:00 pm

Proposal queued

Wed Sep 15, 03:16 am

Proposal executed