Funding Threshold USD development
AI summary
This proposal seeks funding from the Threshold Network DAO to develop Threshold USD (thUSD), a new decentralized stablecoin. thUSD would be a fork of Liquity, allowing users to borrow stablecoins against their tBTC (Threshold Bitcoin) collateral. Key features include no governance token, fees accruing to the DAO treasury, and an interest rate on loans. The goal is to increase the Total Value Locked (TVL) in tBTC by enabling Bitcoin holders to participate in DeFi without converting their assets.
If passed, the DAO will fund the development of thUSD, which could significantly increase tBTC's utility and TVL, benefiting T token holders through increased fees to the treasury. The proposal does not specify the exact funding amount, so the direct financial impact on the treasury cannot be determined. However, it introduces new risks related to impermanent loss and liquidity depth for the new stablecoin.
Voting results
Votes over time
x-axis = % of voting window elapsed · y-axis = cumulative VP per choice
🐳 Whale votes
1 vote > 5% VPFull proposal
Background
This proposal is for the Threshold Network DAO to fund the smart contract development of a decentralized stable coin with decentralized collateral.
Agoristen proposed a Liquity fork with the following high level changes:
- No governance token.
- Fees accruing as Protocol Controlled Value for the Threshold Network DAO.
- Accepts TBTC as co…