DIGITAL RESERVE ASSET CHANGE PROPOSAL.
09 Dec 2021, 11:29
DIGITAL RESERVE ASSET CHANGE PROPOSAL
Digital Reserve (DR) is a decentralized platform where DRC holders can securely hold their DRC tokens in the DRC Vault or get easy exposure to the well-balanced baskets of the most efficient store of value (SoV) assets in DR Vault Sets.
Currently, Vault s1 provides exposure to Bitcoin (WBTC) – 40%, Ethereum (WETH) – 40%, and Gold (PAXG) – 20%, and Vault s2 contains US Dollar (USDC) – 90%, Bitcoin (WBTC) – 5%, and Gold (PAXG) – 5%.
Both s1 and s2 Vaults interact with the Uniswap V2 platform to trade DR Vault assets using DR Vault smart contracts. s1 and s2 Vaults performance heavily relies on the Uniswap V2 functionality and DR Vault assets liquidity on the Uniswap V2 platform. It is always recommended to check the sufficient liquidity of DR Vault assets (WBTC/WETH, PAXG/WETH, and USDC/WETH pairs) on the Uniswap V2 platform when depositing and withdrawing assets from s1 and s2 Vaults.
While WBTC/WETH and USDC/WETH pairs have deep liquidity on the Uniswap V2 platform, PAXG/WETH pair has relatively low liquidity of ~$15M. Digital Reserve is a long-term project and I believe that it’s too risky to rely on PAXOS as a centralized and regulated company and PAXG liquidity on the Uniswap V2 platform. DR users may encounter issues if there is insufficient PAXG liquidity on Uniswap V2 or PAXG token is no longer operational, for any reasons.
I suggest that we cancel allocation to PAXG for both s1 and s2 Digital Reserve Vaults. The proposed new asset allocation – 50% BTC, 50% ETH for Vault s1, and 90% USDC, 10% BTC for Vault s2. I think these changes will make both s1 and s2 Digital Reserve Vaults more sustainable and reliable in the future.
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09 Dec 2021, 17:29
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09 Dec 2021, 11:30
Digital Reserve Currency telegram news 09 December 2021 11:30