AIP-63 Alchemix x Idle - USDC Clearpool Senior PYT Integration
Status: AIP-63 is up for a snapshot vote until September 18, 2022 at 15:05 UTC
This proposal details parameters to launch an Idle strategy for USDC Clearpool Senior Perpetual Yield Tranches. Idle is a risk-hedging instrument for DeFi yield strategies and Clearpool is a protocol that handles undercollateralized DeFi loans to approved centralized entities. In this case, Wintermute is the approved centralized entity. The Clearpool Perpetual Yield Tranches (PYTs) allow liquidity providers to access the uncollateralized loan market with risk-adjusted profiles by giving the junior tranche an outsized share of yield in return for protecting the TVL of the senior tranche. AIP-63 proposes the use of PYTs to generate additional demand for alUSD by improving the suite of stablecoin collateral. This proposal will also approve $2.5k in ALCX tokens to allow Idle DAO to build the vault adapter; this will help speed up the development and reduce Alchemix core team effort. There’s a lot of great information in this proposal, so be sure to read it before voting!
Since the last update…
AIP-59 passed a snapshot vote, approving the purchase and locking of VELO tokens, as well as the relocation of 50% of the treasury’s alETH-ETHCrv position to Velodrome. The purchasing, locking, and LP-ing was all carried out on the Optimism multisig on September 13th.
AIP-62 passed a snapshot vote, authorizing Alchemix to launch alUSD and alETH Alchemists on Optimism with AAVE V3 strategies integrated, utilizing the listed parameters. This also authorizes Alchemix to pursue an OP grant from Optimism. The grant is live on the Optimism forums here.