[GIP-273] Mellow & P2P update rstETH implementation - Expire accounts with rstETH in emergency mode
AI summary
This proposal addresses an upcoming upgrade to the rstETH token by Mellow & P2P, which will change the token's underlying implementation without changing its address. To protect Gearbox users from potential compatibility issues and altered risk profiles, the proposal sets an expiration date of December 20, 2025, for all Credit Managers in the Chaos Labs wstETH pool that hold rstETH. It also reduces liquidation fees and premiums to 0.01% for these affected markets.
If passed, this proposal will safeguard Gearbox users by mitigating risks associated with the rstETH upgrade. Users with rstETH in the specified Credit Managers will have their accounts expire, and any liquidation profits during this period will be returned to the account owner. This protects users from unexpected losses due to the rstETH changes, but may require them to adjust their positions before the expiration date.
Voting results
Votes over time
x-axis = % of voting window elapsed · y-axis = cumulative VP per choice
🐳 Whale votes
7 votes > 5% VPFull proposal
Summary
-
Set the expiration date for all Credit Managers in the Chaos Labs wstETH pool to
1766235600- UTC/GMT: Saturday, December 20, 2025 — 13:00:00
-
User-protection measure: Liquidation premium and fee will be set to its lowest value of 0.01% in affected Chaos Labs market. If a position is liquidated by the DAO Emergency Liquidator on paused Credit Managers of kpk-curated wstETH CMs which contain rstETH, then 100% of the liquidation profit (if any) will be returned to the Credit Account owner.
Motivation
Mellow & P2P are planning an upgrade for the **r…