0xe58ed128…9413sent to0xbeccb6bb…9bf6·#14,516,643·view on Etherscan
# Reduce INV Rewards for WBTC, ETH, YFI, xSUSHI, INV-DOLA SLP, and FLOKI. Modify Certain Other Features of Anchor
Background
In light of the INV price manipulation incident that occurred on April 2, 2022, we propose reducing certain INV rewards on Anchor in order to redirect them boosting DOLA DEX liquidity. Specifically, we propose reducing INV rewards for WBTC, ETH, YFI, xSUSHI, and FLOKI to zero. We also proposed reducing the current rewards rate for INV/DOLA SLP tokens from 729 per month to 500 month since we now control over 50% of the pool via our PoL strategy with Olympus Pro.
Also, the collateral factor for DOLA today is set at 70% and similar to other stablecoin CF’s in the marketplace today, this proposal would raise this to 85%.
Finally, there is a need to add a new section to Anchor for assets which the DAO votes to deprecate. While there are currently more than $6MM in FLOKI assets on Anchor, there is no valid Chainlink oracle for the new FLOKI contract and we recommend FLOKI be moved to this new “Deprecated” section until the DAO votes to enable deposits and borrows against a new FLOKI asset with accompanying Chainlink oracle.
On-Chain Actions:
Reduce INV rewards on WBTC, ETH, YFI, xSUSHI, and FLOKI to zero.
Reduce INV rewards on INV/DOLA SLP to 500 per month.
Raise DOLA collateral factor to 85%
Move FLOKI to new Deprecated Assets section on Anchor