DR Vault s1 and DR Vault s2 Announcement and Proposal.
01 Jun 2021, 13:35
DR Vault s1 and DR Vault s2 Announcement and Proposal
As many of you may be aware, Uniswap V3 has recently launched and liquidity provisioning for all projects, including DRC, is still in motion.
The DRC Foundation believes Uniswap V2 is here to stay for the mid to long term for some big pairs, such as BTC/ETH, ETH/WETH and USDC/ETH, yet PAXG/ETH is a smaller pool with less certainty.
PAXG is one token that DR Vault s1 and DR Vault s2 currently utilises, there remains uncertainty around its mid to long term availability on Uniswap V2.
As a step towards risk mitigation, we propose performing an Emergency Strategy Update (ESU) to the DR Vault s1 and s2 portfolio allocations, to replace PAXG with other suitable assets.
Our proposal is as follows - to be submitted for 24hour vote via Snapshot:
DR Vault s1:
40% BTC, 40% ETH, and 20% DRC.
DR Vault s2:
90% USDC, 5% BTC, and 5% ETH.
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Please note:
Any patrons with their capital in DR Vault s1 and DR Vault s2 are not at risk of any loss during this ESU. This ESU will only replace PAXG with the proposed assets and perform a rebalancing of the percentages.
Upon a successful vote for this proposal, the ESU will commence shortly after a period of time for any patrons to withdrawal if they so wish.
The following steps would occur:
1. Allow existing patrons of s1 and s2 DR Vaults to withdraw within 24 hours, if they want to.
2. Pause the DR Vault interface for DR Vaults s1 and s2 while the new token allocations are performed.
3. Work on the backend of the data analytics of the DR Vaults and update the interface with the new token allocations.
4. Unpause the DR interface and resume the DR Vaults s1 and s2.
Same news in other sources
101 Jun 2021, 14:45
SNAPSHOT GOVERNANCE
The proposal for the above announcement regarding DR Vault s1 and s2 Emergency Strategy Update is live on Snapshot voting.
Please head there and cast your vote to lock in the update!
Link:
SNAPSHOT GOVERNANCE.
SNAPSHOT GOVERNANCE
The proposal for the above announcement regarding DR Vault s1 and s2 Emergency Strategy Update is live on Snapshot voting.
Please head there and cast your vote to lock in the update!
Link: https://snapshot.org/#/digital-reserve-currency/proposal/QmVs9PCUpfVeCw6rVfNLUKN9M3YpYo9NczCkGFLRKGFc6R