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[BIP-13] Bao Baskets modifications

Voting ended almost 4 years agoSucceeded

Recent market events surrounding stable coins has lead us to re-evaluate the criteria used for bSTBL with the desire to focus more on safety

Additionally bDEFI, which was scheduled for release imminently on main net, will not make good collateral due to high gas costs involved with liquidating a basket with many tokens.

If approved, the following changes will be made:

bSTBL

  • Stablecoins must now be fully backed to be included in bSTBL
  • Change starting composition to: USDC 33%, DAI 33%, RAI 33%

bDEFI

  • Delay launch indefinitely

Full details for BIP 13 can be found here: https://gov.bao.finance/t/bip-13-bao-baskets-modifications/1132

Off-Chain Vote

Approve
9.73B BAO98%
More discussion needed
195.04M BAO2%
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Timeline

May 26, 2022Proposal created
May 26, 2022Proposal vote started
May 29, 2022Proposal vote ended
Oct 26, 2023Proposal updated