[Signal Request] Should we add new PSMs?

And with usdc PSM tout at 0 we probably first need to empty the usdc before seeing some unwind on tusd.

I think it is a dangerous situation that doesn’t bring value until we know that we can unwind easily.

Is that worse the effort?
I don’t thing there is any reason to move tusd before we either go under peg or we need to unwind urgently.

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It’s not a huge effort, and it would still be a slower more controlled unwind than liquidating all at once.

It is up to you. I just don’t think it is the good time, we currently don’t need to decrease Dai supply. When we will be under peg that will be useful.

I would much prefer to see a 3DM usdc or some UNIV3 integration than taking Dai from the market to pay back tusd.

We can do all 3, and I think we should.

For the record turning on liquidations 2.0 instead of sweeping will result in a larger loss at this stage than negative (reasonable) fees.

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I changed my vote.

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Yes. I hear next to nothing like this. Q to everyone, Is there a reason we can’t buy T-bills or short-term treasuries or other similar from democractic Asia or Western Europe with the PSM USDC to reduce exposure, rather than to another stablecoin that is also pegged to USDC?


One is getting the DAO on board. Second is setting up an entity the DAO can control — a simple CU can run away with the money. Third is if we hold enough, that’s an investment company with extra regs.

None of this is intractable. But it’s heavy lifting. I will happily work my butt off to make this a reality if people with the right skill sets can help make it reality. I’m also positive we can wrangle the MKR to make it happen if we have an intelligent plan

I was not thinking about '40 Act implications, oops. Notwithstanding, I thought holding U.S. government securities were exempt. But then again I’m not a lawyer in Maker world I just play one in Omaha courtrooms.

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That’s a good question. Haven’t looked at the law in a while.

Honestly, we could even take 10% of it and just park it in hundreds of FDIC insured bank accounts for more than the zero yield we get now. It could be a “cash holding company”

Polling closes tomorrow so get your last minute changes or additions in soon!

Everyone voting for tether, as part of their court settlement they effectively admit that they misrepresented the financial backing of it’s stable coin, and the case has some really lurid facts


A good reminder that our counterparty’s counterparty is always a way for things to go wrong.


When PSM for FUSD :slight_smile:

Polls are now closed! In the end BUSD, PAX, and GUSD will move to an on-chain poll to discover whether MKR holders want these PSM options while TUSD will go in as “Sweep Only”. I will determine whether @Risk-Core-Unit will propose parameters before going on-chain or after. Thank you to everyone who participated!


Hi everyone,

After speaking to @Primoz we determined that the next best course of action would be to have polling on the winning PSM to determine starting parameters (tin, tout, DC). I unfortunately don’t have the bandwidth at this moment to facilitate this endeavour so I am calling out to the community to continue this campaign. Thanks and good luck!


So to clarify here, are you looking to hold off on the on-chain polling until the parameters are established?

Hey @Aaron_Bartsch

thanks for bringing this to this state, I am happy to take over.


Looks like we’ll be waiting for the parameters to be voted on before bringing this on chain, thanks for the signal @Aaron_Bartsch we’ll be watching Schuppi’s follow up to make sure we see this through to onchain action, as dictated by the community :slight_smile:


sorry for taking so long, the follow-up signal can be found here


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