AIP - 108: Balance sheet simplification #3

In the wake of the lack of activity within the protocol, this is a vote to simplify the balance sheet of the protocol.

Proposal

Proposal is to:

• swap the bERNX and bC3M in the backing of EURA on mainnet back into EURC and remove these assets as a collateral,
• reduce the debt ceiling of the collateral assets of EURA borrowing modules to 0. Note that people who have borrow positions on other collateral assets will still be able to repay their position or hold them if they want at no extra cost. They just won’t be able to borrow more.
• kill the different lending AMOs of the protocol (Steakhouse EURA and USDA on Ethereum and Base)
• kill the USDA/EURA liquidity AMO on mainnet on UniswapV3
• set a cap on the Transmuter instances for EURA and USDA on other chains than mainnet so that no more USDA and EURA can be minted beyond mainnet

For the exact details and size of the positions mentioned here, you can check the analytics of the protocol here

Value to the protocol

This is a way to keep the protocol even lindier than it is now, consolidate its holdings among safe assets. The downside is that the stEUR yield might decrease as part of the execution, but given the lack of activity recently on stEUR, impact on TVL should be limited.

Voting Options

1. For, simplify
2. Against, do nothing