Summary

Following the recent developments in the USDX market and at the request of the relevant Curator, Lista DAO is initiating an emergency vote to enable forced liquidation for the following markets:

• USDX/USD1, curated by Re7 Labs

This vote will be open for 1 hour only after posting the proposal, and results will be determined by a snapshot taken at the 1-hour mark. Once confirmed, the approved actions will be executed immediately. Any changes in the voting outcome after this 1-hour window will NOT affect the final result. Immediate action may apply if abnormal liquidity changes in the USDX market, even if the voting period has not yet reached the scheduled time window.

Background

Over the past few days, the USDX/USD1 market have shown persistently high borrow rates with no repayment activity from borrowers. This situation has drawn significant community attention and concern regarding potential risk exposure.

To protect users and stabilize the protocol, Re7 Labs have formally requested Lista DAO’s support in initiating a forcible liquidation. This action aims to minimize potential losses and maintain healthy market conditions across the ecosystem.

Proposed Plan

The proposal suggests adjusting the oracle prices of USDX in proportion to the outstanding loan amounts, thereby triggering public liquidation for these positions.

If any abnormal liquidity conditions are detected in the USDX market, the Lista team will take immediate action based on market changes, even if the voting period has not yet reached its scheduled time window.

Voting

Yes: Move forward the forced liquidation process for USDX/USD1 market on Lista Lending

No: Reject the forced liquidation

Voting Window: 1 hour after posting the proposal, any changes after this 1-hour period will not affect the final result

Snapshot: Taken at the end of the 1-hour period

Execution: Immediate upon result confirmation, and immediate action may apply based on abnormal liquidity changes to the USDX market even if the voting window has not yet reached

As this is a time-sensitive matter, we encourage all veLISTA holders to participate promptly in the vote on Snapshot within 1 hour.

Your participation will directly help protect the protocol and its community from further risk.