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
11
AAVE<0.01%
NAY
608,523
AAVE100.00%
Top 10 addresses
Votes
NAY
233.8K
NAY
82,873
NAY
82,465
NAY
80,425
NAY
44,072
NAY
28,425
NAY
20,985
NAY
20,000
NAY
15,360
NAY
27.28
Failed on
Aug 13, 2023Required
11.22
320.00K
Required
-608,511.93
80,000.00
16,000,000
Proposal details
Block
9 Aug 2023, 08:03 UTC +00:00
17876033
Block
10 Aug 2023, 08:15 UTC +00:00
17883233
Block
13 Aug 2023, 00:15 UTC +00:00
17902433
Marc Zeller (@marczeller - Aave Chan Initiative), Gauntlet