Hello,
Given the recent lack of activity within the protocol, this proposal aims to simplify its balance sheet.
Proposal
We propose to:
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Swap the bERNX and bC3M in EURA’s mainnet backing back into EURC, and remove these assets as collateral, along with EURCV
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Set the debt ceiling of all EURA borrowing module collateral assets to 0.
- Existing borrowers can still repay or maintain their positions at no additional cost, but will no longer be able to borrow more.
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Close the various lending AMOs of the protocol (Steakhouse EURA and USDA on Ethereum and Base).
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Close the USDA/EURA liquidity AMO on Uniswap V3 (mainnet).
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Cap the Transmuter instances for EURA and USDA on non-mainnet chains, preventing any further minting outside of mainnet.
For detailed figures and position sizes, please refer to the protocol’s analytics dashboard.
Value to the Protocol
This proposal strengthens the protocol’s resilience by consolidating holdings into safer assets and maintaining long-term sustainability.
While this may slightly reduce stEUR yield, the impact on overall TVL should remain limited given the current low activity on stEUR.