Stability Fees Lowered For Several Collaterals
On April 8th 2022, as part of the weekly Maker Governance Cycle, MKR holders voted and approved different changes to the protocol. In particular, the Governance decided to increase debt ceilings and decrease stability fees for several assets including GUNI LP tokens.
What has changed?
Stability Fees Changes
- Decrease the WSTETH-A Stability Fee from 2.5% to 2.25%.
- Decrease the CRVV1ETHSTETH-A Stability Fee from 3.5% to 2.25%.
- Decrease the WBTC-A Stability Fee from 3.75% to 3.25%.
- Decrease the WBTC-B Stability Fee from 5% to 4.5%.
- Decrease the GUNIV3DAIUSDC1-A Stability Fee from 0.1% to 0%.
- Decrease the GUNIV3DAIUSDC2-A Stability Fee from 0.25% to 0.05%
Maximum Debt Ceiling Changes
- Increase the GUNIV3DAIUSDC1-A Maximum Debt Ceiling from 100 million DAI to 750 million DAI.
- Increase the GUNIV3DAIUSDC2-A Maximum Debt Ceiling from 750 million DAI to 1 billion DAI.
- Increase the GUNIV3DAIUSDC1-A Target Available Debt from 10 million DAI to 50 million DAI.
- Increase the DIRECT-AAVEV2-DAI Target Borrow Rate from 2.85% to 3.5%.
You can read more details about the proposal and reasons here.
What does this mean for you?
With these changes, opening a Borrow or Multiply vault with the above mentioned collateral assets is cheaper for you.
For example, you can now enjoy the lower rates on CRV stETH/ETH tokens to borrow dai, while enjoying the APY for staking half your ETH within the pool, and getting LDO rewards.
Also, this means that the rates for GUNI will jump until a new equilibrium is found. The current net yield rates for GUNI can be found here. Note that these rates do not yet account for the lower stability fee, and will need to be updated.
If you experience any issues with your Vault or have any questions regarding your Vault or Oasis.app in general, you can browse our Knowledge Base, contact us at firstname.lastname@example.org or the Oasis Channel on Discord.
April 11, 2022