This repository has been archived by the owner on Oct 2, 2021. It is now read-only.
[KIP-002] Establish Criteria to Explore Lowering the Stability Fee #3
Conversation
This file contains bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
Fitblip
reviewed
Aug 5, 2021
kip-002.md
Outdated
|
|
||
| Kolibri's `stability fee` (the rate charged to borrowers) is currently 22%. While this has helped keep peg stable, the high rate may be hindering the growth and adoption of Kolibri. | ||
|
|
||
| In the early days of `kUSD` there was nothing to do with the asset besides sell it for `XTZ`. This effectively meant `kUSD` minters could take long positions on the price of `XTZ`. The other use case available to minters were peer to peer transactions of `kUSD` and holding `kUSD` to liquidate ovens. Demand for long positions greatly outstripped other use cases, and [KIP006](https://forum.tezosagora.org/t/kolibri-governance-proposal-6-continuous-increase-of-the-stability-fee-to-reach-peg/2851) continuously raised the stability fee until peg was achieved. |
There was a problem hiding this comment.
I'm not sure I'd refer to that former gov proposal as KIP006, that's pretty confusing IMO.
There was a problem hiding this comment.
Renamed to "our initial fee raising proposal" but I don't love it. Happy to take a name suggestion.
Fitblip
reviewed
Aug 5, 2021
|
So this is submitted so we should probs update it, freeze it, and merge I think! \o/ |
Sign up for free
to subscribe to this conversation on GitHub.
Already have an account?
Sign in.
Add this suggestion to a batch that can be applied as a single commit.
This suggestion is invalid because no changes were made to the code.
Suggestions cannot be applied while the pull request is closed.
Suggestions cannot be applied while viewing a subset of changes.
Only one suggestion per line can be applied in a batch.
Add this suggestion to a batch that can be applied as a single commit.
Applying suggestions on deleted lines is not supported.
You must change the existing code in this line in order to create a valid suggestion.
Outdated suggestions cannot be applied.
This suggestion has been applied or marked resolved.
Suggestions cannot be applied from pending reviews.
Suggestions cannot be applied on multi-line comments.
Suggestions cannot be applied while the pull request is queued to merge.
Suggestion cannot be applied right now. Please check back later.
No description provided.