OLIP-8 Proposal to Change Stablecoin for $OLE LP on BSC

Paxos, the issuer of BUSD, announced on Feb 13 that they would cease further issuance of the stablecoin on Feb 21, 2023, and we have also seen the decline of BUSD issuance in the stablecoin landscape.

Following Paxos's regulatory issues with the SEC regarding the BUSD issuance, the concern is fully understood by the community that we have most of OLE LP staked in OLE/BUSD. In response to these regulatory matters, the following options are proposed to eliminate the potential risk:

1/ Remain with BUSD (No change) 2/ Change to USDT 3/ Change to USDC

Action Timeline:

If the community supports the proposal, the implementation will occur one month after the proposal passes. During this time, community members and users can trade on OLE/BUSD pair as normal, but must close their position before implementation.

Reminder will be put on the trading panel, and you will be reminded again through social channels before implementation.