Executed

TIP-111: Increase FEI Stable backing to 90-100%


ID 663874...8888

ID 663874...8888

Proposed on: Jun 16th, 2022

Proposed on: Jun 16th, 2022

Votes

Actions

Type

Address

Details

Custom

0x221f...0179

withdrawRatioERC20(..)

Custom

Account

0x221f...0179

Method

withdrawRatioERC20(..)

Custom

0x6697...09E2

unstakeFromGauge(..)

Custom

Account

0x6697...09E2

Method

unstakeFromGauge(..)

Custom

0x221f...0179

withdrawRatioERC20(..)

Custom

Account

0x221f...0179

Method

withdrawRatioERC20(..)

Custom

0xc5bb...5b57

exitPool(..)

Custom

Account

0xc5bb...5b57

Method

exitPool(..)

Custom

0x221f...0179

withdrawRatioERC20(..)

Custom

Account

0x221f...0179

Method

withdrawRatioERC20(..)

Custom

0x5B86...79B9

deposit(..)

Custom

Account

0x5B86...79B9

Method

deposit(..)

Custom

0x221f...0179

withdrawRatio(..)

Custom

Account

0x221f...0179

Method

withdrawRatio(..)

Custom

0xFF6f...d257

swapDeposit(..)

Custom

Account

0xFF6f...d257

Method

swapDeposit(..)

Custom

0x05FD...3Ba8

exitPool(..)

Custom

Account

0x05FD...3Ba8

Method

exitPool(..)

Custom

0x221f...0179

withdrawRatioERC20(..)

Custom

Account

0x221f...0179

Method

withdrawRatioERC20(..)

Custom

0xe0f7...Ce20

deposit(..)

Custom

Account

0xe0f7...Ce20

Method

deposit(..)

Proposal

TIP-111: Increase FEI Stable backing to 90-100%

This on-chain proposal will perform the following actions :

  • Migrate stETH (Lido staked ETH) to a PCVDeposit where the Chainlink oracle is used to check for slippage, instead of a hardcoded 1:1 peg (the parameter for slippage check keeps the same behavior, but will tolerate a slippage vs the Chainlink oracle price, and not vs a theorhetical 1:1 peg).
  • Unstake all B-70WETH-30FEI from Balancer gauge, remove FEI/WETH liquidity from Balancer, burn the FEI, and move WETH to PSM

These actions are part of TIP-111 and will allow Guardian to perform actions to defend the FEI peg and continue to increase the stable backing (percentage of stable assets in the PCV).


Also contains code from FIP_104b: Withdraw all liquidity from the DPI LBP.

This FIP cleans up and finishes elements of the PCV reinforcement process snapshotted here: https://snapshot.fei.money/#/proposal/0x2fd5bdda0067098f6c0520fe309dfe90ca403758f0ce98c1854a00bf38999674
and discussed here: https://tribe.fei.money/t/fip-104-fei-pcv-reinforcement-proposal/4162 .

Specifically it:

  • Exits the LBP pool and withdraws all liquidity to the compound DAI deposit
  • Withdraws the DPI from the deposit to the TribalCouncil multisig, using the ratioPCVController
  • Deposits the DAI on the deposit into Compound
Votes
Status