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
}