QIP228: Onboard sDAI to QiDao PSM
network: All Chains author: Benjamin.lens implementor: Guardians implementation-date: TBU created: 2024-03-09
Summary
Add sDAI to QiDao’s peg stability module (PSM).
Abstract
Adding sDAI as collateral for MAI via the PSM will allow users to mint and redeem MAI with sDAI at a fixed rate. In parallel, the protocol will earn the yield made from sDAI while it is held in the PSM.
Motivation
Many chains on which QiDao is deployed do not have any dependable single-sided stablecoin yield. Using sDAI from Ethereum as a yield source for the PSM will allow QiDao to establish it’s PSM strategy on every chain where it is deployed.
Specification
Rationale
sDAI is a bluechip stablecoin yield product that the protocol can rely on to power its PSM.
Technical Specification
Development team will create PSMs on every chain where QiDao is deployed to accept sDAI as collateral.
Configurable Values
Not applicable.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x6809...20e446 | 374,913 | Approve proposal |
 0x5D22...5a142D | 120,187 | Approve proposal |
 0x88dc...89b1ae | 5,135 | Approve proposal |
 0x412a...3d835F | 4,392 | Approve proposal |
 0x61fd...7cb3b2 | 3,439 | Approve proposal |
VOTE POWER
Proposal Status
- Wed March 13 2024, 04:46 amVoting Period Starts
- Sat March 16 2024, 04:46 amEnd Voting Period
Current Results
1-Approve proposal
514,601.435
2-Further discussions needed
483.536