This proposal upgrades the DutchTrade contract address to version 3.2.0
Abstract
The proposed proposal, if enacted, would upgrade the DutchTrade contract address to version 3.2.0. In order for RTokens to realize the revenue accrued from the collateral basket, an auction must be run within the Reserve dapp. During these auctions Reserve has been bidding against themselves so that RTokens can realize this revenue.
MEV stands for Maximum extractable value. MEV “searchers”, are bots that run complex algorithms on blockchain data to detect profitable MEV opportunities and automatically submit those profitable transactions to the network.
Rationale
This new release makes bidding in dutch auctions easier for MEV searchers. This will allow auction participation from these MEV “searchers” so that Reserve doesn’t need to bid against themselves during the auction process.
Risks
By allowing MEV searchers an easier time to participate in the auctions, we are moving closer to a fully decentralized RToken auction process. I do not see this upgrade as adding any additional risks to RTokens.
Hi! Firstly, I wanted to congratulate the High Yield USD team for the high quality of their written communications. In an effort to help governance proposal clarity and following the reccommended naming conventions published in the forum by StableLab, we modified the title of the proposal to clearly display [RFC] (between square brackets) at the beginning of the title. We encourage the hyUSD team to adopt this convention to keep a good [RFC] and [IP] record track.