Hello,
This is a proposal for the DAO to take full ownership of the smart contracts behind USDA.
Context
The USDA stablecoin of the protocol has been deployed on 11 different chains with an ownership granted to Angle Labs for us to set it all up rapidly and efficiently in test phase.
While in some chains, ownership has already been shared with the DAO, we’re posting this vote for the DAO to take the full and sole ownership of USDA smart contracts.
Proposal
The proposal is for veANGLE holders to accept the ownership (through the AccessControlManager contract of the protocol) of all the smart contracts related to USDA across all the chains of the protocol.
If this proposal is successfully voted, the Angle DAO and veANGLE holders will become the official owners of the contracts related to USDA, and the ownership will be fully abandoned by Angle Labs.
Votes will take place like currently with everything behind the Timelock contract of the protocol.
Implementation
For how the USDA stablecoin is setup, you may look into these proposals related to:
- the bootstrapping of liquidity in the protocol through the EURA surplus: AIP - 87: Launch a USD stablecoin
- the boostrapping of a USDA-EURA liquidity pool on UniswapV3: AIP - 89: Seed a EURA-USDA liquidity pool
- the setup for the Transmuter, Angle savings solution and its borrowing infrastructure: AIP - 88: Transmuter and Borrowing infrastructure launch setup for USDA - #3 by sogipec
More generally, for how the stablecoin is designed, you may look into this blog post.