With the resolution of the last liquidity squeeze, thanks to multiple proposals adopted, I think it is time to return to the original APY calculation system
I completely agree. The issue here is no clear visibility on what ‘temporary’ actually means. The proposal to cap APR to 40% was voted but based on a simple sentence without context. Vires should have brought more information on rules of engagement on this one to bring more transparency. Right now the system feels flawed.
UP, i want to repost this my proposal.
hey, i think that… time is it…
I thought Sasha would at least start paying some of it right away, when he took over the debt. To show he intend to do what he said.
But the only thing I see, is a transaction I don’t understand what means “protect collateral”.
I’d buy more vires, just to vote to put borrow interest back to 80…
- Hell, if vires drops much more, I’ll buy 1k and propose to raise to 80% for 80% utilization, and then destructive incremental above 80%…
85% util = 120%
90% util = 200%
95% util = 500%
100% util = 1500%
Plus raising liquidation penalty to 25%
- Not paying debt, should HURT.
That’s how we avoid another liquidity squeeze. You don’t reward debtors. They take the risk on their own, that’s not my problem.
The ONLY place, people dón’t get liquidated right now, is vires… It’s basically safehaven for debtors.
in a lending platform we need lenders and borrower. with this new API nobody will take money and nobody will earn interests.
we need a reasonable API as like old one.