CoUSD Experimental Redeem Proposal

As of this announcement https://coffinfinance.medium.com/cousd-redeem-proposal-4e4417d84b90

We would like to prepare to re-enable redemption COUSD for USDC or DAI due to several requests. A 5% fee is applied. 1 CoUSD equals 0.95 USDC or 0.95 DAI The fee might possibly be utilized to create CoUSD-USDC liquidity (POL) or buyback COFFIN or additional collateral for CoUSD. It’s an experiment. We do not plan to prepare a frontend UI for now. We will provide instructions on the medium article. There are no plans to audit.

If you have any concerns, please express them. Objections are welcome. If the developers have any issues, they will suspend immediately without warning. The mechanism is only effective when our USDC+DAI collateral in our collateral reserve contract exceeds the supply of CoUSD.

If you agree with the idea, please vote “Yes”. If not, please “No”. If you think we need more discussion, please vote “Need more details”.

We'd love to hear your suggestions and ideas. Please share them with us on our discord server so that we can work together to create good solutions.

Thank you for your patience and continuing support. The best we can do is keep having discussions on discord in order to reach a mutually beneficial arrangement.