0x3fcb35a1…cb28sent to0xbeccb6bb…9bf6·#14,021,647·view on Etherscan
# Set FLOKI collateral ratio on Anchor to zero
Floki have just notified us of a contract migration process that is happening very soon that presents possible risks to Anchor due to the potential for temporary liquidity issues that may result in inaccurate pricing data
Out of an abundance of caution, we are working with Floki leadership to ask Floki stakers who have borrowed any assets on Anchor to repay their loans before this migration occurs.
After this proposal passes, any remaining FLOKI depositors who do not repay their loans will get liquidated and no more loans can be collateralized using FLOKI until another governance proposal. FLOKI users do NOT have to withdraw/unstake from Anchor. Only repaying loans and disabling FLOKI as collateral is sufficient to be safe from forced liquidation. Users who are not using FLOKI as collateral are not required to take any actions.
After all DOLA loans against staked FLOKI are cleared, a separate governance vote can take place which approves the new Floki token and re-enables DOLA borrowing against it.
Actions
1. Set FLOKI collateral ratio to zero