Summary

Reduce the annualized stability fee for WETH collateral from 1.5% to 0% to make ETH-backed borrowing on Optimism more competitive.

Specification

• Collateral type: WETH.
• Annualized stability fee: 1.5% to 0%.
• Keep collateral ratios, debt ceilings and reward allocations unchanged.

Execution

Set WETH's collateral stability-fee factor to 1.0 RAY and call taxSingle(WETH) in the same transaction. The latter settles previously accrued fees using the stored prior rate and activates the new rate for subsequent accrual. This proposal does not forgive accrued fees or change the global fee factor.

A 0% stability fee does not remove exposure to HAI's redemption-price changes, market price or liquidation risk.

Voting

FOR: approve the specified fee change. AGAINST: retain the existing setting. ABSTAIN: no preference.

Resubmission

This proposal resubmits the policy in the previous proposal, which did not reach quorum: https://www.tally.xyz/gov/hai/proposal/58280620000770716577342809241895878583577302224070428274062181871042367586735. The economic targets are unchanged. The execution payload now includes the post-setter taxSingle(WETH) call already specified in the previous description, so the new fee is activated atomically.