We had a long discussion those last 2 weeks regarding the change of ownership of TUSD (not to be confused with USDT). You can read all the arguments here.
The current DC is $135M. $53M DAI are borrowed. This is locking 20% of the total amount of TUSD in circulation. It doesn’t generate any revenue for us but helps a bit to keep the peg (but any stablecoin will do).
Now is the time for action.
How do you want to handle TUSD?
Please vote below.
If the set DC to 0 wins, no new DAI will be minted from TUSD-A starting from the end of January. No further actions will be taken related to this signal request.
If Force Liquidation wins, DC will be set to 0, liquidation will be enabled and a SF might be charged to clean the vault facility. This action might lead to some losses. The exact process will be managed by the domain teams.
If a risk assessment is demanded, TUSD DC will be set to 0, Risk will contact TrustToken and gather a report to have an assessment of what is behind the TUSD token (RWA style assessment). This might take one month and will end up with a new DC signal request.
The main impact of the vote will be our relationship with TrustToken and the new TUSD owner. No significant impact on the peg is expected whatever the outcome is.
- No change
- Set the Debt Ceiling to 0
- Force liquidation
- Ask Risk to perform a detailed risk assessment on the situation
- Other (please comment)
The poll will be open until January, 12th.