Proposal overview
TUSD offboarding plan
Simple Summary
This proposal aims to initiate the offboarding process for TUSD from the Aave V2 Ethereum pool. The process will follow a similar process as the BUSD offboarding plan part I.
Motivation
TUSD has been a historic asset of the Aave ecosystem, but due to recent events, the ACI suggests consideration of its offboarding. The offboarding plan leverages the previous success of the BUSD offboarding plan and will incentive current users to slowly migrate their positions to other stablecoins on Aave.
Previous proposals have frozen TUSD and lowered TUSD LT to 77.5%. These proposals have reduced TUSD borrow and supply over the past 30 days, from 20M supplied and 18M borrowed, to 13.1M supplied and 6.8M borrowed today.
Specification
The following table outlines the proposed changes to the TUSD risk parameters:
Parameter | Current Value | Proposed Value |
---|---|---|
LTV | 75% | 0% |
Liquidation Threshold | 77.5% | 75% |
Liquidation Bonus | 5% | 10% |
Reserve Factor | 25% | 95% |
Borrowing Enabled | Yes | No |
Stable Borrowing Enabled | Yes | No |
Base Rate | 0% | 3% |
Slope1 | 4% | 7% |
Slope2 | 100% | 200% |
UOptimal | 80% | 20% |
References
- Implementation: Ethereum
- Tests: Ethereum
- Snapshot
- Discussion
Copyright
Copyright and related rights waived via CC0.
Your voting info
Voting results
YAE
561,197
AAVE100.00%
NAY
5
AAVE<0.01%
Top 10 addresses
Votes
YAE
234.6K
YAE
82,873
YAE
80,426
YAE
80,425
YAE
44,091
YAE
20,000
YAE
15,360
YAE
3,000
YAE
343.41
YAE
27.28
Executed on
Aug 06, 2023Required
561.19K
320.00K
Required
561.19K
80,000.00
16,000,000
Proposal details
Block
1 Aug 2023, 12:55 UTC +00:00
17820290
Block
2 Aug 2023, 13:04 UTC +00:00
17827490
Block
5 Aug 2023, 05:04 UTC +00:00
17846690
6 Aug 2023, 05:30 UTC +00:00
Marc Zeller (@marczeller - Aave Chan Initiative), Gauntlet