Governance Update #21
Snapshot voting is live for AIP-68! A new RFC vote is also live to gauge community interest!
AIP-68 Launch Yearn vaults and vault migrator on Optimism
Status: AIP-68 is up for a snapshot vote until November 10, 2022 at 16:09 UTC
Several new vault strategies, as well as the vault migration tool deployed on mainnet, are proposed to be launched on Optimism with approval of AIP-68. These include Yearn DAI, USDC and WETH strategies, accepting collateral of DAI, USDC, ETH, yvDAI, yvUSDC, and yvWETH. At the time of Alchemix’s expansion onto Optimism, Yearn vaults were not available. With Yearn now available on the Optimism chain, this proposal will close this gap and provide the ability to offer Yearn vaults. Additionally, Yearn will be receiving an OP grant, which will result in temporary boosted yields for Yearn strategies. Closely following previous launch parameters of several previous strategies, AIP-68 details the “soft launch” specifications for these strategies on Optimism. alAssets already have liquidity on Optimism due to the generous veVELO NFT gift from Velodrome, as well as a subsequent purchase of VELO with the approval of AIP-59. Be sure to check out the full proposal for more details on the launch parameters and features of the vault migrator tool.
[RFC] Frax Base Pool AMO and alUSD Collateral
Status: The temperature check poll for the FRAXBP AMO and FRAX as alUSD collateral is up for a snapshot vote until November 13, 2022 at 03:00 UTC
This Request for Comment was put up for initial vote to gauge the community interest and gather opinions prior to the core team pursuing the direction; this is not a proposal yet. If the community is supportive of this idea, a formal proposal will be written with additional details and put up for a true vote. In short, the idea behind this initiative is for Alchemix to support a potentially new dominant source of liquidity on Curve, the FRAX Base Pool (FRAXBP). Currently, 3CRV is the dominant source of liquidity, utilizing DAI, USDC, and USDT. In recent weeks, Frax has been collaborating with DeFi protocols to pair their stable coins and governance tokens with FRAXBP, which will be mutually beneficial to both protocols. This initiative discusses the ideas of transitioning to an alUSDFRAXBP AMO, as opposed to the alUSD3CRV AMO, and lays out the potential gains for the protocol. Read the full RFC for details on how this would work, the potential benefits/risks, and what this would mean for the protocol. Remember, this is a temperature check for the community, so be sure to voice your opinion for open discussion!
Since the last update…
AIP-66 passed a snapshot vote, approving an 8 week trial of the Arrakis alUSD/alETH vault being incentivized to provide 100 ALCX weekly.