alETH Collateral Proposal

This proposal seeks to add alETH as collateral and kickstart a strategic collaboration with Alchemix. In return, Alchemix has committed to directing a portion of their veVELO toward a HAI/alETH liquidity pool. This marks the beginning of what we anticipate will be a strong and mutually beneficial partnership, with additional joint strategies already in the works for the near future.

Collateral specs

Alchemix ETH Token

• alETH
• 0x3E29D3A9316dAB217754d13b28646B76607c5f04

Collateral Auction House

• minimumBid - 100 HAI
• minDiscount - no discount
• maxDiscount - 15%
• perSecondDiscountUpdateRate - 2 hours

Oracle / Price Feed

• 0x0805fAA94F056C06c2a69e115Aa7633EfD3efDca

SAFEEngine

• debtCeiling - 500k HAI
• debtFloor - 150 HAI

Oracle Relayer

• safetyCRatio - 135%
• liquidationCRatio - 130%

TaxCollector

• stabilityFee - 2%

LiquidationEngine

• liquidationPenalty - 15%
• liquidationQuantity - 50k HAI