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SiloSiloby0x9b8b04B6f82cD5e1dae58cA3614d445F93DeFc5c0x9b8b…Fc5c

Disabling XAI as collateral in the protocol

Voting ended almost 3 years agoSucceeded

Proposal You are voting to disable XAI collateral in the protocol.

The snapshot proposal is the second step we take to gauge temperature before we move to onchain proposals (Tally).

For reference, please check the Discussion section for a link to a governance topics that explains the proposal.

If the snapshot proposal is passed, disabling XAI will take place over 2 phases.

Phase 1: XAI will be disabled in markets where XAI is NOT deposited as collateral to borrow other assets. Markets include:

XAI-WETH RPL BAL FXS QNT MKR WBTC RAI UNI SNX wstETH ALCX FRAX DAI YFI CVX CRV 1INCH LUSD gOHM LINK USDT XAI-WETH

Phase 2: In other markets where XAI collateral is borrowing other assets, we will make the change as soon as users, organically, pay back loans. We reiterate, we will NOT force repayment or liquidations of open positions. Markets include: OHM rETH AURA USDC cbETH LQTY

Off-Chain Vote

Yes - Let's do it
10.36M SILO92.1%
No - I am against it
884.9K SILO7.9%
Quorum:112%
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Discussion

SiloDisabling XAI as collateral in the protocol

Timeline

Apr 24, 2023Proposal created
Apr 24, 2023Proposal vote started
Apr 27, 2023Proposal vote ended
Oct 26, 2023Proposal updated