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ChaosLabs' proposal to introduce USDP to the Ethereum Aave V3 Market in isolation mode, as part of a strategy to boost V3 adoption, failed to secure enough community votes. Despite its comprehensive analysis and suggested parameters, it didn't meet the required quorum and threshold for YAE votes, halting its progression to the Aave Improvement Proposal (AIP) stage.
The discussion revolved around a proposal by ChaosLabs to introduce USDP to the Ethereum Aave V3 Market in isolation mode. This was part of a broader strategy to encourage the adoption of V3. The proposal was comprehensive, including an analysis of USDP's market cap, trading volumes, and price volatility. It also suggested an initial Liquidation Threshold (LT) of 75%, a debt ceiling of $3.3M, a supply cap of 5M USDP, a borrow cap of 4M USDP, and a 5% Liquidation Bonus.
However, despite the detailed proposal, it did not garner enough support in the community vote. The necessary quorum and threshold for YAE votes were not met, preventing the proposal from advancing to the Aave Improvement Proposal (AIP) stage. This does not rule out the possibility of revisiting the proposal in the future, should community preferences change.
Posted 6 months ago
Last reply 5 months ago
Summary updated 2 months ago
Last updated 03/12 08:00