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baovotes.ethbaovotes.ethby0x2f75E925C38f83785A7D0630f65Aed8C65C1454f0x2f75…454f

[BIP-40] Swap bSTBL USDC for LUSD

Voting ended over 2 years agoSucceeded

Summary

Improve decentralization of bSTBL by swapping USDC for LUSD as an underlying asset.

Background

Bao synths aim to be as decentralized as possible. LUSD is a far more decentralized collateral choice due to it immutable nature and pristine (ETH only) collateral. It is also battle tested, has a chainlink feed, sufficient liquidity and yield options on Aave and yearn.

Goals

Improve decentralization of bSTBL and baoUSD

Proposed Solution

Swap USDC to LUSD as an underlying asset for bSTBL

Risks

While liquidity is good for LUSD, it is not as deep as DAI liquidity which could present an issue in the future. To mitigate this risk the Bao will monitor the adoption of LUSD.

Off-Chain Vote

Approve
565.83K veBAO100%
More discussion needed
0 veBAO0%
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Discussion

baovotes.eth[BIP-40] Swap bSTBL USDC for LUSD

Timeline

Aug 15, 2023Proposal created
Aug 15, 2023Proposal vote started
Aug 21, 2023Proposal vote ended
Oct 26, 2023Proposal updated