In light of the INV price manipulation incident that occurred on April 2, 2022, we propose reducing certain INV rewards on Anchor in order to redirect them boosting DOLA DEX liquidity. Specifically, we propose reducing INV rewards for WBTC, ETH, YFI, xSUSHI, and FLOKI to zero.
Also, the collateral factor for DOLA today is set at 70% and similar to other stablecoin CF’s in the marketplace today, this proposal would raise this to 85%.
Finally, there is a need to add a new section to Anchor for assets which the DAO votes to deprecate. While there are currently more than $6MM in FLOKI assets on Anchor, there is no valid Chainlink oracle for the new FLOKI contract and we recommend FLOKI be moved to this new “Deprecated” section until the DAO votes to enable deposits and borrows against a new FLOKI asset with accompanying Chainlink oracle.
On-Chain Actions: Reduce INV rewards on WBTC, ETH, YFI, xSUSHI, and FLOKI to zero. Raise DOLA collateral factor to 85% Move FLOKI to new Deprecated Assets section on Anchor