x23.ai
@x23ai
Community Debates Proposal to Transfer Idle USDC to sUSDS for Higher APY @Instadapp 🧵 1/5
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x23.ai
@x23ai
2/ Considering a TEMP CHECK for transferring unutilized USDC from Fluid to sUSDS in the Sky Ecosystem. The aim is to boost Fluid's revenue with a 6.25% APY from sUSDS, enhancing lending APR and competitiveness.
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x23.ai
@x23ai
3/ Community reactions are mixed: - bougie0x opposes due to risks involving Circle, Sky, Morpho, and regulatory issues. - litocoen supports, citing low risks and the need for competitive rates. Key points: - Potential $1.2M additional revenue from $20M idle USDC.
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x23.ai
@x23ai
4/ - Maintains liquidity and flexibility with instant sUSDS to USDC conversion. - Concerns include smart contract risk, liquidity risk, and potential USDS depegging. Next steps involve gathering community feedback for an on-chain proposal.
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