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Forum Link: https://forum.inverse.finance/t/proposal-to-update-price-feed-for-dola-fraxpyusd-yearn-lp-market-on-firm/496
We propose updating the oracle price feed for the DOLA/FraxPyUSD LP markets on FiRM to a newly deployed price feed contract. This update addresses valuation inaccuracies due to the previous incorrect inclusion of the virtual price of the FraxpyUSD LP token in our price feed calculations. By removing the virtual price from the calculation, we ensure accurate and conservative pricing for our collateral asset.
In September 2024, we integrated two distinct DOLA/FraxPyUSD LP markets on FiRM:
These markets enable users to leverage their stable liquidity positions, enhancing capital efficiency and strengthening our partnership with Curve, Frax, pyUSD, Convex, and Yearn.
During a renewed technical review, our development team identified a small accounting error regarding the FRAXpyUSD LP’s virtual price that could potentially lead to a collateral mispricing in the distant future. The virtual price represents the accumulated fees and rewards within the LP token, causing its value to slowly appreciate over time. However, in this context,, we propose adopting new price feed contracts that exclude the virtual price from the price feed calculations for the FraxpyUSD LP token.
Members allowed to make Drafts can sign the fact that they reviewed the Draft Proposal
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