Executed

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


ID 873648...9037

ID 873648...9037

Proposed on: Jan 17th, 2024

Proposed on: Jan 17th, 2024

Votes

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.

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