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executedEnded 2 years ago ยท  Onchain

TUSD offboarding plan

By aavechan.eth

title: TUSD offboarding plan author: Marc Zeller (@marczeller - Aave Chan Initiative), Gauntlet discussions: https://governance.aave.com/t/arfc-tusd-offboarding-plan/14008

Simple Summary

This proposal aims to initiate the offboarding process for TUSD from the Aave V2 Ethereum pool. The process will follow a similar process as the BUSD offboarding plan part I.

Motivation

TUSD has been a historic asset of the Aave ecosystem, but due to recent events, the ACI suggests consideration of its offboarding. The offboarding plan leverages the previous success of the BUSD offboarding plan and will incentive current users to slowly migrate their positions to other stablecoins on Aave.

Previous proposals have frozen TUSD and lowered TUSD LT to 77.5%. These proposals have reduced TUSD borrow and supply over the past 30 days, from 20M supplied and 18M borrowed, to 13.1M supplied and 6.8M borrowed today.

Specification

The following table outlines the proposed changes to the TUSD risk parameters:

ParameterCurrent ValueProposed Value
LTV75%0%
Liquidation Threshold77.5%75%
Liquidation Bonus5%10%
Reserve Factor25%95%
Borrowing EnabledYesNo
Stable Borrowing EnabledYesNo
Base Rate0%3%
Slope14%7%
Slope2100%200%
UOptimal80%20%

References

  • Implementation: Ethereum
  • Tests: Ethereum
  • Snapshot
  • Discussion

Copyright

Copyright and related rights waived via CC0.

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aavechan.eth
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0xB83b...Fbcf5C
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YAE

michiganblockchain.eth
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YAE

Wintermute Governance
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Proposal Status
  • Tue August 01 2023, 12:55 pmPublished Onchain aavechan.eth
  • Wed August 02 2023, 01:04 pmVoting Period Starts
  • Sat August 05 2023, 05:29 amEnd Voting Period
  • Sat August 05 2023, 05:30 amQueue Proposal
  • Sun August 06 2023, 05:32 amExecute Proposal
Current Results

1-YAE

561,197.94

2-NAY

5

0%
Quorum 561,202.94/320,000
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