Update: the information on the ARFC is incorrect and based on early information that was proven wrong.
Paxos from direct source will cease minting activity on BUSD from the 21st of Feb instead of April.
While I still don’t think there’s a direct risk for the Aave protocol, if governance agrees, the ACI suggests escalating this proposal to the snapshot stage tomorrow with a direct open voting, and an aim to publish an AIP if the snapshot outcome is YAE during the weekend.
This accelerated process would allow, assuming good sync, a potential execution of the freezeReserve() on Feb 23rd, two days after the minting cessation.
Another option is going to the AIP stage without a snapshot vote, that option would potentially freeze BUSD in sync/before the minting stop by Paxos, but we have to share that as the protocol is not, particularly at risk, we’re not very keen to create precedence.
So 3 options:
-
keep the standard process: execution if governance outcome is yes and good sync ETA for execution on Feb 26th
-
Direct to snapshot: ETA for Feb 23rd
-
direct to AIP: ETA for Feb 19th (two days before minting stop)
The ACI is neutral on these options and will follow governance feedback,
- Normal governance process
- Direct to snapshot
- Direct to AIP