Executed

Upgrade RAI OSM price source to new Uni V3 5m twap feed.


Proposal ID

873648...9037

Proposed

Jan 17th, 2024

Result details
Final Votes

Quorum

17.07K of 0

Majority support

Yes

For

17.07K

Against

0

Abstain

0

Actions

Type

Address

Details

Custom

0x6933...9409

changePriceSource(..)

Custom

Account

0x6933...9409

Method

changePriceSource(..)

Proposal

Reposting the previous proposal that failed because it did not reach quorum: Chainlink will deprecate the RAI feed soon, so we need to upgrade the feed to use a Uni V3 pair 5m twap. The 5m twap is close enough to spot, especially on a non volatile asset like RAI, while being resistant to market manipulation (parties attempting to manipulate the price would need to fight against arbers for 25 blocks). The pair has pretty good liquidity, is being incentivized by RAI, and soon will be used as the price source for their controller.

Address of price source: 0xA1862Fc9d6D036623Edcc3DCf971d1284c70105C (converts RAI/ETH 5m twap to USD using chainlink ETH/USD, same used for other collaterals in the system).

The feed has been live for about a month and has worked flawlessly.

Final Votes

Quorum

17.07K of 0

Majority support

Yes

For

17.07K

Against

0

Abstain

0

Final Votes
Status

Wed Jan 17, 01:34 am

Draft created

Wed Jan 17, 01:32 am

Published onchain

Wed Jan 24, 08:27 am

Voting period started

Mon Jan 29, 08:27 am

Voting period ended

Fri Jan 26, 01:37 am

Proposal queued

Mon Jan 29, 02:28 pm

Proposal executed