Revert maximum Borrow APR of USDN back to 80%

Short time and yes 23.9K, no 0. What? This govern sucks. They force us to leave the platform :frowning:

I’m going to abstain.

If quorum is reached, I’ll vote no…

Remember people, if quorum isn’t reached, it’s automatically a no.

Sure does feel like it’s intentional. Maybe waves plan is to alienate as many as possible, then buy up cheap at the buttom. That’s what I’d say if I was in the game of conspiracies at least. But I’m more of a “don’t attribute to evil, what can be explained by stupidity”… And I think it’s just them not knowing what they’re doing.,

That would be the case if borrowing get’s near or equals supply but that’s not the case on USDN. This proposal will have close to no impact. This would only work if the cap is put on 80% for all tokens not just USDN.

If you vote “no” don’t vote or remove your vote if already done. You’ll have better luck that this doesn’t pass if we don’t reach quorum. :wink:

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No impact?
As soon as the proposal is approved, USDN usage will go up (as it happened before, strangely). They will earn 80% APY for their supply and can borrow the rest of the assets at max 40% APR. All this with the USDN at $1 (without depeg here).

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If this proposal gets approved, it’ll just prove that decentralized governance can’t work. People will vote, knowing nothing about how their vote will impact everything. Just like democrazy…

And I absolutely mean this… The 2 whales haven’t voted yet… Meaning we almost got quorum without them, almost passing this dumbass vote,…

with the ust depeg and people crying scam when apy is to high, do you think it’s a good idea ?

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Didn’t vote.
Please retract your No votes: Only logical thing for No voters right now.
Trying to prevent this proposal reaching quorum.

“Absolutely next week”

Regards

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There are not the only accounts. They have others with thousands of vires/votes. The best-known account and some other didn’t vote on previous proposals and approved them with thousands of votes from others.
F.ex. on the second vote for 40% APR, a large increase in blocked vires was noted, other accounts with early bird vires surely…

True, I agree with you., whoever kept taking vires from 80 to 100 the last few weeks, didn’t do it from one account. I suspect he managed about 20 - 25k, since this proposal had 25k yes votes instantly when vote started.

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It’s fine, but it would be better to distribute a part of usd to all vires holders or create blackout periods for greater rewards

Honestly unsure why the APY is increasing as the gap between supply & borrow is huge in USDN. This isn’t sustainable.

Just restore max borrow rate for all tokens to 80%.

do not create artificial bonuses alone - to humiliate others.

Better work on the ecosystem / exchange. People should be interested in putting all currencies in your project.

make a% loan even 120% … if the supply dept is more than 90%

from 0 to 90% supply- up to 80% cost dept
from 90 to 100% supply - up to 120% cost dept. But for all currencies

And think about the voting monopoly

now an old problem - created a monopolist with 100k + votes. What will you do with it ?!

Why right now all these discussions - if the decision is made by 1n user ??? !!!

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you have an USDN loan - up to 4% …
work on it. this is a very big problem of your ecosystem.

earn your USDN more than you have now.
and then, as soon as it appears on other cryptocurrencies and interest grows.

now this whole situation looks like a vacuum cleaner … just think


why can’t I trade USDN on other platforms? this is the reason why it, like most users, it is now and is not needed.

artificial methods of manipulation are not very good

Guys, the truth is that they st.le “borrowed” all the funds from pool and gave the USDN for collaterall.
They can’t repay their loan because their don’t have funds. So they set up USDN APR with pseudo DAO…

What’s more, if someone writes the truth here , they censor the posts.

IF THEY REALLY WANT TO FIX THE CRISIS THEY SHOULD START TO REPAY THEIR LOANS!

WHY THER ARE NOT DOING THIS? HOW DO U THINK?

Is there anybody thinking before proposing?
Now with this setup, it seems that you can lend USDN, and earn more than what it costs you to borrow USDT… so again someone is extracting all liquidity from the USDT pool and those of us bloodily locked for more than a month coming daily for the 1k limit will soon be fully locked again once they reach 100% utilization?

Nope. F.e. look here:
https://vires.finance/as/3PMUTKMtJxfG5pWZYwRcabnP16HYqo4fYK7

Only 6 of supplied 30 millions are getting interest. Recalculated to all 30M it turns to 0.88% APR only (instead of 55.69%). So, I’'m ok with that stable token of waves system is prioritised over other. It helps keeping peg and stimulates money inflow into waves ecosystem.

the peg is just sustained by a magic miracle with the current system deficit and all of us that have lent USDT are at the verge of being rekt misserably … that’s why I want to be very careful here. I’m trapped and as it happened with Terra, I’m at the verge of losing tons of dollars if this doesn’t hodl

Here i see that during last 7 days total USDN supply shrink by 6 %:

Neutrino protocol allows WAV to USDN and vice versa conversion if you own NSBT token. LUNA-UST like attack was cut by team in time. This small waves ecosystem with tiny 3B capitalisation was just repetition before knocking down LUNA-UST IMHO :smiley:
Waves and USDN future looks bright once all crypto settles and bearish pressure steams out.