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

Executed
#027 - alpha ERA

Created Sep 9th, 2021 - Executed Sep 15th, 2021

Details

avatar

Deployer

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

Actions

Action 1
xINV-old
._setRewardPerBlock(

6600000000000000

)

Action 2
0xfd5e...15b6
._setEscrowDuration(

864000

)

Action 3
«
Add DOLA-3POOL as a new Market on Frontier
»
Comptroller
._supportMarket(
anDOLA-3POOL

)

Action 4
«
Set DOLA-3POOL's Frontier Market Collateral Factor to

70%

»
Comptroller
._setCollateralFactor(
anDOLA-3POOL,

700000000000000000

)

Action 5
«
Forbid DOLA-3POOL to be Borrowed on Frontier
»
Comptroller
._setBorrowPaused(

)

Action 6
Comptroller
._setCompSpeed(
anDOLA-3POOL,

3000000000000000

)

Action 7
«
Set INV-DOLA-SLP's Frontier Market Price Feed Source to 0xbB6A...1CD3 with a

18

decimals Underlying
»

)

Action 8
«
Add INV-DOLA-SLP as a new Market on Frontier
»
Comptroller
._supportMarket(

)

Action 9
«
Set INV-DOLA-SLP's Frontier Market Collateral Factor to

70%

»
Comptroller
._setCollateralFactor(
anINV-DOLA-SLP,

700000000000000000

)

Action 10
«
Forbid INV-DOLA-SLP to be Borrowed on Frontier
»
Comptroller
._setBorrowPaused(

)

Action 11
Comptroller
._setCompSpeed(
anINV-DOLA-SLP,

2500000000000000

)

Action 12
DOLA
.addMinter(

)

Action 13
«
Set INV's Frontier Market Collateral Factor to

60%

»
Comptroller
._setCollateralFactor(
xINV-old,

600000000000000000

)

Action 14
«
Set DOLA's Frontier Market Collateral Factor to

70%

»
Comptroller
._setCollateralFactor(
anDOLA,

700000000000000000

)

Action 15
«
Set ETH-v1's Frontier Market Collateral Factor to

70%

»
Comptroller
._setCollateralFactor(
anETH-v1,

700000000000000000

)

Action 16
«
Set WBTC-v1's Frontier Market Collateral Factor to

70%

»
Comptroller
._setCollateralFactor(
anWBTC-v1,

700000000000000000

)

Action 17
«
Set YFI-v1's Frontier Market Collateral Factor to

70%

»
Comptroller
._setCollateralFactor(
anYFI-v1,

700000000000000000

)

Action 18
«
Set xSUSHI's Frontier Market Collateral Factor to

70%

»
Comptroller
._setCollateralFactor(
anxSUSHI,

700000000000000000

)

Action 19
«
Set stETH's Frontier Market Collateral Factor to

70%

»
Comptroller
._setCollateralFactor(
anstETH,

700000000000000000

)

Action 20
«
Set DOLA-3POOL's Frontier Market Price Feed Source to 0xf563...ADF7 with a

18

decimals Underlying
»

)

Proof of Reviews

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For Votes

37 voters

7.12k votes

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Deployer

5.61k

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0xd69b...1fe4

517.88

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BenLavabo

513.57

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Alan

257.36

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0x5325...97bf

189.97

View All

Against Votes

1 voters

0.00 votes

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0xa185...ad81

0.00

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