The Jungle: Nouns DAO - 313-steth-peg-protection (Q5042)
From Nouns Dev
A Nouns discord channel.
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | The Jungle: Nouns DAO - 313-steth-peg-protection |
A Nouns discord channel. |
Statements
This Week:-1. A proposal involving a 12 ETH pool for protection is discussed, with comparisons to OTC trades.-2. Concerns about counterparty risk and market size are raised.-3. Questions about the protocol, APR adjustments, and protection amount are asked.-4. Cozy is mentioned as not having enough funds to cover 1M worth of stETH.-5. Uncertainty about who will write contracts for the initiative is expressed.
27 June 2023
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This Month:-1. A proposal involving a 12 ETH pool for protection is discussed, with concerns about counterparty risk and market size raised.-2. Uncertainty about who will write contracts for the initiative is expressed.-3. Fluffiest expressed that the math for a certain proposition does not make logical sense.-4. Sqx. commented that paying 1.5% to protect 4% seems off in a 5% Risk Free world.-5. Recent MakerDAO governance discussions have raised concerns about GUSD's heavy reliance on the PSM and Gemini holding GUSD reserves at Silvergate.-6. Votes favoring the removal of GUSD from the PSM led the tally until the end of the voting.-7. Venture capital firm ParaFi Capital, investors in GUSD's parent company, delegated enough voting power in the last minutes to change the end result.-8. The incident occurred due to GUSD having too many stakeholders and flaws in the governance mechanism of MakerDAO.
1 July 2023
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