Change USDN asset parameters ABCD to (A,B,C,D)=(50,120,900,1500)

Proposal ID
Ho6USKzY6cesyWXsPK7Y9jLZmddQemf5BFAJK49NveeV

Proposal: Change USDN asset parameters ABCD to (A,B,C,D)=(50,120,900,1500)

Fudders have been spreading FUD about VIRES, WAVES and USDN now.
They have deposited USDT/USDC and borrowed USDN and they have exchanged borrowed USDN to other USDT/C already. Then, they are waiting for that USDN is killed with spreading FUD. This FUD harms all WAVES ecosystem.

The main objective of this proposal is to prevent Fudders from FUD activities. But, preventing their activities helps not only VIRES current situation but also USDN peg and WAVES price.


This proposal brings following 4 improvements.

(1) Now, Fudders have borrowed large amount of USDN. it is large share in total debt of USDN. So, if USDN borrow APR increase, they need to repay USDN. After they repay USDN, there is no incentive for them to spread FUD about USDN. In other words, Fudders activities can be prevented.

(2) Higher USDN Supply APY, higher incentive to supply USDN in VIRES. So, people consider to supply USDN in VIRES instead of selling USDN against USDT/C. It helps USDN peg.

(3) VIRES staking APY increase. gVIRES holder can gather more governance rewards from USDN borrowers.

(4) The Chance to withdraw USDT/C increases. Now, when whales repay USDT/C, bots withdraw it soon and common users can’t withdraw USDT/C they deposited. An active bot has borrowed USDN. So, if USDN borrow APR increased, the bot needs to keep more USDT/C in their deposit as collateral. This means that common users can have more chance to withdraw their fund.


This proposal is for temporary change.
After FUD activities disappear, we can revert these asset parameters back again by another voting.

Transaction Payload

{
  "type": 12,
  "version": 2,
  "data": [
    {
      "key": "DG2xFkPdDwKUoBkzGAhQtLpSGzfXLiCYPEzeKH2Ad24p_APoint",
      "type": "integer",
      "value": 50
    },
    {
      "key": "DG2xFkPdDwKUoBkzGAhQtLpSGzfXLiCYPEzeKH2Ad24p_BPoint",
      "type": "integer",
      "value": 120
    },
    {
      "key": "DG2xFkPdDwKUoBkzGAhQtLpSGzfXLiCYPEzeKH2Ad24p_CPoint",
      "type": "integer",
      "value": 900
    },
    {
      "key": "DG2xFkPdDwKUoBkzGAhQtLpSGzfXLiCYPEzeKH2Ad24p_DPoint",
      "type": "integer",
      "value": 1500
    }
  ],
  "senderPublicKey": "3gQ8QUfoGQW6YVuhUv3zuqsbmxbV5F2FAuDXJqVKD6C9",
  "fee": 100000000,
  "feeAssetId": "WAVES",
  "timestamp": 1650771296000
}

Can you explain about the 4 changed variables?

I only read fud fud fud… The famous accounts that lock usdt/usdc withdraws and pervert the system are doing just the opposite explained here: supply millons of usdn to borrow usdt/usdc.

Do you want them to have greater interests by blocking the system?

Too many proposals, this is not serious…

5 Likes

“Now, Fudders have borrowed large amount of USDN”

Do you mean the 29M USDN outstanding balance? I don’t think it is large, compared with the total volume of USDN.

3 Likes

The project team received the majority in the gVires vote and now promotes any initiatives ignoring the real facts
The community cannot influence decisions made now

These are 3 wallets in whose interests the game is being played
https://vires.finance/as/3PEEsRmcWspCxhKqobvKY3axW1846AMRwzr
https://vires.finance/as/3PMUTKMtJxfG5pWZYwRcabnP16HYqo4fYK7
https://vires.finance/as/3PPuzqQC4bHxWitTyndySGcaMzHHNGipQns

5 Likes

Fudder this, fudder that. Just drop the act Sasha. You’re changing the protocol to protect your financial interest

5 Likes

Please use proper english when making a proposal.

3 Likes

What are those ABCD values, what do those numbers exactly mean?

1 Like

This proposal is comical if the situation wasn’t so serious.

You can’t put together a coherent argument and just blab about fudders, when it has been shown the borrowers blocking the system are connected to waves team insiders.
And that wallet is also linked to this one

3gQ8QUfoGQW6YVuhUv3zuqsbmxbV5F2FAuDXJqVKD6C9

Making all the useless and incoherent governance proposals.

We need solutions for the big USDT/USDC borrowers to repay their debts and free users funds, no one cares about USDN.

1 Like