Summary
This proposal continues the orderly wind-down of FiRM’s scrvUSD-sDOLA and yvscrvUSD-sDOLA markets by reducing the collateral factor from 87.5% to 85%. Phase 1 (Proposal 350) reduced the collateral factor from 90% to 87.5% and set market ceilings to zero. The Risk Working Group will continue decreasing the collateral factor until all positions are closed, with Phase 3 to follow if required. Upon passing, announcements will be made via Discord, X, and UI notifications.
These markets are being sunset and will be removed from FiRM. All active positions should begin unwinding.
Current Exposure
| Market | Address | Collateral | Debt | Health |
|---|---|---|---|---|
| scrvUSD-sDOLA | 0x57F8…2FC5 | $1.34M | $1.12M | 95.67% |
| yv-scrvUSD-sDOLA | 0x47EC…e22a | $28.22k | $23.82k | 96.39% |
Total Collateral: ~$1.37M | Total Debt: ~$1.14M | Positions: 2
Notice to Borrowers
If you have an active position, unwind at your earliest convenience to avoid forced liquidation as parameters tighten.
Actions
- Set Collateral Factor 85% for scrvUSD-DOLA and yvscrvUSD-DOLA markets