Overview
A few weeks back as you will remember the US sanctioned Tornado Cash, which was a protocol that mixes the funds of different wallets so they can not be traced on the blockchain. You can read more on the sanction here: https://home.treasury.gov/news/press-releases/jy0916
The outcome was that Circle, the issuer of USDC, froze all the addresses whose funds could be traced back to Tornado Cash, worth over 75,000 USDC.
Proposal
We want our community to be safe from controversy & have a staking pool in a stable coin that does not have potential sell pressure due to it being sold by others, for example Maker DAO, one of the biggest USDC holders, encouraged its users to sell USDC. That is why we believe that our current USDC pool is not optimal for the current regulatory landscape and the safety of our stakers.
For the reasons above, we propose to close the USDC pool and open a BUSD one in its place. Opening the BUSD pool will not affect the strategy in any way and the only difference is the coin that could be staked.
If the proposal is to pass, The USDC pool will be closed and stakers will be able to withdraw their staked USDC and utilise the new BUSD pool instead.
Vote with YES if you want the proposal to go through or vote with NO if you disagree with this incentive.
NOTE: Only stakers in our VEMP pool with balance exceeding 1k xVEMP are allowed to vote.