Currently we are taking emergency measures to increase DAI minting via stablecoin collateral. The latest executive which has passed but has not executed yet would lower USDC-A and PAX-A collateralization ratios to 103% and increase debt ceilings to meet the increased demand for DAI.
Current proposed TUSD Parameters:
Collateralization Ratio: 120%
Debt Ceiling: 2M DAI
Risk Premium: 0%
The goal is this signal request is to modify the proposed TUSD Risk Parameters to match the USDC-A and PAX-A Vaults. This will also diversify the MCD collateral stablecoin pool from being primarily dominated by USDC.
New Proposed TUSD Parameters:
CR: The lower of 103% or the winning governance poll vote.
RP: 4% - This is inline with USDC-A and PAX-A.
Should Urgent Action be taken to modify the proposed TUSD Risk Parameters?
- Yes - Urgent Action should be taken to modify the TUSD-A Risk Parameters
- No - Use the proposed TUSD-A parameters in the governance poll.
What should the TUSD-A DC be set at?
- 2M DAI (current)
- 10M DAI
- 25M DAI
- 50M DAI
TUSD currently has a circulating supply of 488M.
There is a high amount of on-chain TUSD liquidity. 150M TUSD is in the curve ypool. 227M TUSD is in the swerve pool.
TUSD recently upgraded their contracts. While they’ve been audited by Peckshield and Certik there’s a chance that there are hidden vulnerabilities.
Polls will close on 2020-09-17T16:00:00Z. The goal is for the TUSD-A Vault to be implemented in the Friday Executive.
A 50% majority and a required quorum of 40 voters are required to take Urgent Action.