TIP-111: Increase FEI Stable backing to 90-100%
TIP-111: Increase FEI Stable backing to 90-100%
This on-chain proposal will perform the following actions :
- Migrate stETH (Lido staked ETH) to a PCVDeposit where the Chainlink oracle is used to check for slippage, instead of a hardcoded 1:1 peg (the parameter for slippage check keeps the same behavior, but will tolerate a slippage vs the Chainlink oracle price, and not vs a theorhetical 1:1 peg).
- Unstake all B-70WETH-30FEI from Balancer gauge, remove FEI/WETH liquidity from Balancer, burn the FEI, and move WETH to PSM
These actions are part of TIP-111 and will allow Guardian to perform actions to defend the FEI peg and continue to increase the stable backing (percentage of stable assets in the PCV).
Also contains code from FIP_104b: Withdraw all liquidity from the DPI LBP.
This FIP cleans up and finishes elements of the PCV reinforcement process snapshotted here:
https://snapshot.fei.money/#/proposal/0x2fd5bdda0067098f6c0520fe309dfe90ca403758f0ce98c1854a00bf38999674
and discussed here: https://tribe.fei.money/t/fip-104-fei-pcv-reinforcement-proposal/4162 .
Specifically it:
- Exits the LBP pool and withdraws all liquidity to the compound DAI deposit
- Withdraws the DPI from the deposit to the TribalCouncil multisig, using the ratioPCVController
- Deposits the DAI on the deposit into Compound
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
0x9c50...a5dAC5 | 12.452M | FOR |
0x66b9...E40B11 | 5M | FOR |
0xe1A0...332d41 | 2.5M | FOR |
0x8639...e182F9 | 2.5M | FOR |
0x7E74...6001D2 | 2.5M | FOR |
VOTE POWER
Proposal Status
- Thu June 16 2022, 07:43 amPublished Onchain
0x6ef7...5C6148
- Thu June 16 2022, 07:44 amVoting Period Starts
- Sat June 18 2022, 01:20 pmEnd Voting Period
- Sat June 18 2022, 01:42 pmQueue Proposal
- Sun June 19 2022, 02:15 pmExecute Proposal
Current Results
1-FOR
32.952M
2-AGAINST
N/A Tokens
3-ABSTAIN
N/A Tokens
