DFIP-2206-E: Dynamic interest rates on DUSD loans #166
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uzyn
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defi-cli signmessage 8VqHKJmGVPxDj2gZyD4cMnE5AvjrKPBgT6 "DFIP-2206-E-yes" |
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defi-cli signmessage "8UsgQBnNpjvjGoearXfXaVX6MNRxfdLGuK" "dfip-2206-e-yes" |
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$ defi-cli signmessage 8dmUcdG9RcDr5HQ6g5qShq7HzFrCJtAwVU "dfip-2206-e-yes" |
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signmessage 8P24qRzccs9FJXkqrrzPZGa2aNXxqBkrmb "DFIP-2206-E-yes" |
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defi-cli signmessage 8daGYPTDTzMRtUx61uWRjg7p9GECMjuip8 "dfip-2206-e-yes" |
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signmessage 8cS4WTshRjjhKJ5fizs7tNmK49yRufM5Vt DFIP-2206-E-no |
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defi-cli signmessage 8dJLcKddBnwXzzXBLeZLYqzHehfeB8UWa2 "DFIP-2206-E-yes" defi-cli signmessage 8JgPSdyFpLTG1wAnxFHpuHjEoSmPBhHccg "DFIP-2206-E-yes" |
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defi-cli signmessage 8LvY9Py5pp8eqQ6tPaLxwH64osfdNppfXu "dfip-2206-e-yes" |
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signmessage 8X9mSBVoeFfsk7XyAJmYCGu4SgrQzMj7Ud “dfip-2206-e-yes“ signmessage 8K5EUbUbdpRWH1Tx1tTSpJgXs1x8Bck5vN “dfip-2206-e-yes“ signmessage 8SQaHvzkrHik3o9vwF1MdKf2LkdgcicNTD “dfip-2206-e-yes“ signmessage 8cfqCfRmN697jMavNmgbJH61tRXNhBXCiM “dfip-2206-e-yes“ signmessage 8c3Rdmz1hCSvvSRittYUYQtQQLurX8dzzQ “dfip-2206-e-yes“ signmessage 8F8fVhgSHs71NUFvEmhVeYatzayo6YQ1Zw “dfip-2206-e-yes“ signmessage 8WnUuKZ7U55HNxmnwZMwzJHggRSy1ZKUKs “dfip-2206-e-yes“ signmessage 8XFTnhwwbyM3MA7jLosmiupJfzKvuC8XM8 “dfip-2206-e-yes“ signmessage 8LiEQLQCLkv2eTcQ5vmMWszMCXEYBk9GK3 “dfip-2206-e-yes“ signmessage 8YfZo7Qow2G6aZFWAzEoWAvxufA7AyYb4i “dfip-2206-e-yes“ |
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Votes of the DFX Community Votes: signmessage 8KirKNGVgrsQsmWuy1Ee4ZmsnXVVkAEzh2 dfip-2206-e-yes |
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DFIP Overview
General information
To provide a longterm solution for a stable DUSD peg, we propose 6 points which are submitted as seperate DFIPs for the community to vote on. For the overall context please refer to the Reddit post and hear the Twitter Space.
Describe your proposal
This DFIP is about point 6 of the overall proposal:
Dynamic interest rates on DUSD loans, based on the current discount/premium of DUSD evaluated with the DFI price oracle.
It is to be noted that if a vault is on a loan scheme with 3%, and the DUSD interest rate is -5%, the DUSD loan is interest fee, i.e. 0%, but not negative interest rate. Net interest rate is always >= 0%.
The interest rate will be adjusted every 2880 blocks (~24 hours) based on the moving average of the DUSD price.
Sample rates:
DUSD_DEX_price 1.05 results in -5%
DUSD_DEX_price 1.04 results in -3.7%
DUSD_DEX_price 1.03 results in -2.4%
DUSD_DEX_price 1.02 results in -1.2%
DUSD_DEX_price 1.01 results in 0%
DUSD_DEX_price 0.99 results in 0%
DUSD_DEX_price 0.98 results in 6.4%
DUSD_DEX_price 0.97 results in 13.2%
DUSD_DEX_price 0.95 results in 28.2%
DUSD_DEX_price 0.90 results in 74.9%
DUSD_DEX_price 0.80 results in 225.6%
DUSD_DEX_price 0.70 results in 500.6%
How does this DFIP benefit the DeFiChain community?
In case of a DUSD premium, reduced interest rates should incentivize additional DUSD loans. In case of a DUSD discount, increased interest rate will incentivize DUSD loans to be closed.
This will help having enough DUSD loans open to ensure a stable DUSD price of 1$.
Non-obligation
I understand that vote of confidence for DFIP carries no obligations by any developers to implement the proposals. DeFiChain is a community projects. Pull requests can be submitted by community and reserved to be evaluated for safety and general community acceptance.
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