closedEnded a year ago · Snapshot (Offchain)
#SAIP #57.1 - Update to USD0++ Cauldron Parameters
By 0x5EeD...9451ccContinue Reading
This proposal seeks to update the parameters of the USD0++ cauldron initially introduced in AIP #57. The proposed changes aim to reduce risks, increase profitability, and make the cauldron more attractive for users. The updates include an increase in the Maximum Collateralization Ratio (MCR) to 90%, a reduction in liquidation fees to 2%, an increase in the interest rate to 12%, an increase in the MIM cap to 5 million from the 2 million initially proposed, and the integration of an updated oracle that uses Pyth’s USD0++ price feed.
Updated Cauldron Parameters
- Interest Rate: 12%
- Borrow Fee: 0.5% (unchanged)
- Maximum Collateralization Ratio (MCR): 90%
- Liquidation Fee: 2%
- MIM Cap: 5 million
- Oracle: Updated to use Pyth’s USD0++ price feed (0xEb58304C786a9961bB04CC4236C31EBe713db291)
Connect Wallet to Add Note
0Votes 4
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x350D...E3680B | 3.01B | For |
 0x9365...4efE35 | 2.801B | For |
 0x048B...c2667d | 52.204M | For |
 0x154d...2e715B | 436,040 | For |
VOTE POWER
0
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Proposal Status
- Tue January 07 2025, 10:45 amVoting Period Starts
- Wed January 08 2025, 10:45 amEnd Voting Period
Current Results
1-For
5.863B
Quorum 5.863B/3B