[IP] Unregister Unused Assets-Clean up Mainnet

High Yield USD (hyUSD) hyUSD RFC
1

Summary

This proposal unregisters old contracts no longer used in High Yield USD (Mainnet), and registers a new asset being introduced into the hyUSD basket.

Abstract

The proposed proposal, if enacted, would unregister old contract addresses that are no longer being used. And register new assets in order for the rewards to be monetized.

Assets to be unregistered:

  1. fUSDC - Flux USDC
  2. mrp-aUSDT - Morpho Aave USDT v2 Pool
  3. cvxeUSDFRAXBP - OLD eUSD+FRAXBP Contract
  4. TUSD - True USD(used in emergency collateral)

Assets to be registered:

  1. COMP Address

Rationale

The assets being unregistered are no longer used in High Yield USD, by removing these assets we are lowering the gas cost to mint and improving the overall efficiency.

We believe removing TUSD would improve the safety of the overall emergency collateral. There is a reputational risk with TUSD being associated with Justin Sun and therefore we believe it should also be unregistered.

COMP needs to be registered as an asset in order for COMP rewards to be monetized.

Risks

We believe by removing old unused contract addresses that this improves the security of High Yield USD but it will also improve the gas efficiency. By registering comp we are allowing all parties involved with hyUSD to realize this yield. These changes would result in improved user experience while maintaining safety and security.

  • Yes, I am for this proposal
  • No, I am against this proposal
0 voters
2

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.

Reccommended proposal guidelines: Naming convention for RFCs and IPs

In addition, this proposal has yet to be published for onchcain voting.