Summary
This proposal redeploys the DOLA PSM for USDS with added Expansion and Contraction events, grants minting rights to the new PSMFed, and deprecates the original PSMFed deployment. The PSM functionality and parameters remain unchanged from the original activation proposal.
Background
The PSM was originally deployed in August 2025 but lacked standard Expansion and Contraction events present in other Fed contracts. Since the PSM has seen minimal usage to date, redeployment with these events adds no operational risk while improving monitoring and transparency.
Specification
The redeployed contracts maintain identical parameters to the original deployment:
- Buy Fee: 0 bps (1 USDS = 1 DOLA)
- Sell Fee: 20 bps (1 DOLA = 0.998 USDS)
- Minimum Total Supply: 100,000 shares to mitigate inflation-style attacks
- Supply Cap: 10,000,000 DOLA
New Contracts:
- PSM: 0x1d02f2841afa3cc20435a8c804c24deac5f30dfa
- PSMFed: 0x67fc21332d24fc5250a3b7fc988191ad7f38f9cc
- Controller (unchanged): 0xe3475728673eabaec90a37aa3ae2ced9f0db5ff2
On-Chain Actions
- PSM.setBuyFeeBps = 0
- PSM.setSellFeeBps = 20
- PSM.setMinTotalSupply = 100k
- PSMFed.setSupplyCap = 10M
- Add PSM as DOLA Minter
- Remove old PSM contract as DOLA Minter