[FIP - 187] Implementation of a ragequit function FRAX/mUSD (8% /year)

Governance Proposals Gauges
1

Author
WhiteWidow

I propose the implementation of a ragequit function for the FRAX/mUSD liquidity pool to address the needs of community members who wish to re-allocate their capital. This function will provide community members with greater flexibility and freedom in managing their capital while ensuring that the underlying protocol is not exposed to significant risk. The proposal also aims to generate profits for the protocol if passed.

The current FRAX/mUSD liquidity pool has seen minimal adoption with FRAX transaction volume since its inception, making it an ineffective and non-productive way to direct capital towards. The proposed solution is a ragequit function that will allow community members to exit their positions in the FRAX/mUSD liquidity pool with a daily slash rate calculated at 8% per year.

Additional Information

It is important to note that the mStable project is facing challenges such as difficulty in raising capital, limited funds, and market strategy issues. Moreover, the project has stopped directing any MTA rewards to the FRAX/mUSD liquidity pool.

Vote

For: Implement the ragequit function for the FRAX/mUSD gauge with a daily slash rate calculated based on 8% yearly.
Against: Do nothing.

2

Thanks for reposting this, despite the higher rage quit % rate, there is also another reason to shut this pool immediately as mstable discord just posted this announcement (which is proposal to shutdown project in 4 weeks via acquisiton)

Following the resolution of MIP 29, the mStable Builder SubDAO has shifted its focus for a period of four weeks to field expressions of interest in an mStable acquisition from other DeFi projects and also assess requirements to shutdown the project.

1 Like
3

This proposal is up for voting here: Snapshot

1 Like
4

So the voters with millions will always against this, even now when mUSD is about to disappear…