- Edited
Background: This is a formal proposal version of a previous RFC you can find here. Proposal options have been structured taking debates into account.
Proposal: Conduct three votes (seen below) and initiate a moratorium on re-locking of any assets while proposal remains undecided.
Vote One:
Offer Cooler Loans with capacity for all tokens
Offer Cooler Loans with 69m DAI capacity
Offer Cooler Loans with 33m DAI capacity
Do not offer Cooler Loans
Vote Two:
Offer Cooler Loans at 3,000 DAI per gOHM
Offer Cooler Loans at 2,850 DAI per gOHM
Offer Cooler Loans at 2,500 DAI per gOHM
Offer Cooler Loans at 2,000 DAI per gOHM
Vote Three:
Offer Cooler Loans at 0.5% P.A.
Offer Cooler Loans at 1.1% P.A.
Offer Cooler Loans at 2.2% P.A.
Offer Cooler Loans at 3.3% P.A.
Timeline: These three votes should be held in tandem in coming days (I defer to the DAO here). If vote one does not conclude with option four, the following steps would be taken:
Cooler Loans enter a second audit.
Volatile assets are reduced in proportion to capacity (i.e. 33m DAI would be capacity for 18.5% supply, so 18.5% reduction); illiquid assets prioritised for reduction over ETH.
RBS is tuned to ensure lower cushion >= loan-to-collateral.
Simple front end is developed.
Cooler Loans are deployed.
Clearinghouse is deployed and installed to kernel.