Yeah I agree that the credibility of Vires is now broken due to WAVES Team “borrowing”. We may introduce some COOLDOWN period after which no one will be able to take a loan. This would give time for liquidity providers to get back their funds eventually.
Yeah the best way would be to increase % but I think it may result in endless and endless waiting until WAVES Team gets liquidated. Once they are liquidated you will get depegged USDN which will be worth like UST because of not having proper oracle price. Look at the USDN total supply, how fast it gets diluted over time.
I insist on time limiting loans. We have WAVES TEAM which is not going to repay their debt in current conditions. They just want to “borrow” normal stablecoins and give their “stablecoin” instead.
It’s a matter of time when people loose faith.
Look, the situation is dire. In spite of high yields no one is providing liquidity to the system.