1 、前言
提案编号：WIP43
提案名称：下架 BUSD 以保障协议安全性
提案作者：Core Devs
有关提案：无
替换提案：无
2 、摘要
本提案中，核心开发团队建议下架 BNB、Moonriver 上的 BUSD 资产，并阐明动机。
3 、动机
BUSD 发行商 Paxos 被 SEC 以及纽约金融服务局（NYDFS）调查，目前已经宣布停止发行新的 BUSD，仅支持赎回。因此，BUSD 的市值将随时间逐渐减少。
尽管目前 Paxos 还能应对 BUSD 的赎回业务，但是，团队认为难以估计其储备金是否充足。
另一方面，一旦 BUSD 被法庭认为是证券，BUSD 将遭受极大的冲击，或导致其在 DeFi 领域的流动性大幅度下降，价格长期严重与美元脱锚。
为了保障协议的长期稳定运行以及用户的资产安全，防患于未然，核心开发团队提议下架 BUSD 资产。
4 、正文
4.1 下架涉及的链
涉及 BUSD 的链，共 2 条，分别是：
1、BNB chain
2、Moonriver
4.2 下架流程
第一步：关闭该市场的存/借功能
关闭市场的存款/借款功能，取款以及还款功能不受影响；借贷协议前端将折叠下架资产，但是用户可以在“我的资产”页面找到下架资产，直至用户没有存入或借取任何该资产。
第二步：准备金率调整为：100%
准备金率提升至 100%，意味着用户的存款将不会有任何的存款收益，以推动相关用户取款。同时，用户取款会推高借款利率，如此将会推动相关用户还款。
第三步：提案通过 2 周内，将该资产的最大质押率调整为：0%
将尽量通知用户偿还对其它资产的借款，解除对该资产的质押；
提案通过 2 周内，至多分两次将质押率调整为 0%。
若期间用户已经没有质押该资产进行借款的行为，将立即完成质押率调整；
免责声明： 因最大质押率调整造成的清算，属于市场行为，协议没有补偿义务。
五 、选项
1、支持此计划
2、不支持此计划
--------In English----------
WIP43: Delisting BUSD to Ensure the Security of the Protocol
1. Preamble
Proposal Number: WIP43
Proposal Title: Delisting BUSD to Ensure the Security of the Protocol
Proposal Author(s): Core Devs
Related Proposals / Dependencies: N/A
Replacement Proposal / Replaces: N/A
2. Abstract
In this proposal, the core development team proposes to delist BUSD on BNB chain and Moonriver, and elaborates the motivation.
3. Motivation
BUSD issuer Paxos was investigated by the SEC and the New York Department of Financial Services (NYDFS), and will stop issuing BUSD in the future. Therefore, the market capitalization of BUSD will gradually decrease over time.
Although Paxos can currently handle BUSD redemption business, the team believes that it is difficult to know whether its reserves are sufficient.
In addition, once BUSD is recognized as a security by the court, BUSD will suffer a huge impact, may cause its liquidity in the DeFi field to drop significantly, and the price will be severely de-pegged for a long time.
In order to ensure the long-term stable operation of the protocol and the security of users’ assets, the core development team proposes to delist BUSD.
4. Specification
4.1 The Chains Involved
There are 2 chains involving BUSD, namely:
-
BNB chain
-
Moonriver
4.2 Standard Operating Procedure (SOP) of Delisting
Step 1: Disable the deposit/borrow function of the market
Disable the deposit/borrow function of the market, the withdraw/repay functions will not be affected; the delisted assets will be collapsed in WePiggy’s App, but users can easily find the delisted assets in “My Assets” until the user does not deposit or borrow any such assets.
Step 2: Adjust the reserve factor to 100%
Increasing the reserve factor to 100% means that there will be no deposit income from users’ deposits to push relevant users’ withdrawals. At the same time, users’ withdrawals will push up the borrowing interest rate, which will drive the relevant users to repay their borrowings.
Step 3: Adjust the maximum LTV ratio of the asset to 0% in 2 weeks after the proposal is passed
Within 2 weeks after the proposal is passed, users will be notified as much as possible to repay their borrowings of other assets and disable the asset as collateral.
Within 2 weeks after the proposal is passed, the maximum LTV ratio will be adjusted up to 2 times to 0%.
During which time the maximum LTV ratio adjustment will be executed immediately if there are no more users using that asset as collateral for borrowing.
Disclaimer: Liquidation caused by the adjustment of the maximum LTV ratio is a normal market behavior, and the protocol has no obligation to compensate.
5. Option
Option 1: For the plan
Option 2: Against the plan