[RFC] Collateral Basket Change

The proposed change to Vaya involves replacing one of the current collateral.

This proposal suggests replacing the current collateral in Vaya, called AAVE Base USDbC, with the latest version called AAVE USDC V3. Although the percentage allocation will remain unchanged at 20%.

Currently, the AAVE Base USDbC collateral offers an APY of approximately 1.44%. The shift to AAVE USDC V3 (APY 6.44%) is projected to increase the APY of Vaya, thereby fostering greater stakeholder participation and minting engagement. The heightened rewards will benefit the staking process, contributing to the desired high overcollateralization of Vaya, thereby fortifying its security. An enhancement of the security aligns with the core principles of Vaya.

While all collateral plugins, including AAVE USDC V3, carry risks of default, the transition does not introduce additional risk to Vaya. Both collaterals present comparable risk profiles, ensuring the platform’s resilience in the event of a default scenario remains unchanged.

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

It seems this IP has been deployed for vote with a 24hr voting window on a weekend.

This is bad practice for a number of reasons.

  1. Too little time to check the code is not malicious
  2. Weekend votes tend to fail quorum
  3. 2 day review period provided but voting period too short.

We advise governors to vote against this on principle

@Veganiel please redeploy the poll on Monday with a two day review period and three day voting window.