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Gearbox · closed proposal

[GIP-201] Mellow LRT feeds migration

0xab02…a6D8·ended 1y ago·Discussion ↗·MEDIUM RISK
Voters
14
GEAR voted
315.94M
Token price

AI summary

This proposal addresses an upcoming migration of Mellow Finance's Liquid Restaking Token (LRT) vaults. To prevent issues, it suggests temporarily disabling the ability to deposit these specific LRTs (rstETH, pzETH, amphrETH, steakLRT, Re7LRT) into Gearbox and changing their price feeds to use wstETH. Once Mellow's migration is complete, Gearbox plans to re-enable full functionality with new adapters and price feeds.

Impact

If passed, users will temporarily be unable to deposit the affected Mellow LRTs into Gearbox, and existing positions will rely on a new pricing mechanism. This change aims to maintain the stability and security of the Gearbox protocol during Mellow's migration, benefiting all users by preventing potential errors, though it temporarily restricts certain deposit options.

Read full proposal on Snapshot

Voting results

Quorum
315.94M / 200.00M GEAR(158%)
✓ Quorum met
For315.94M (100.0%)
Against0 (0.0%)
Abstain0 (0.0%)
315.94M GEAR · 14 votersblock 21681533

🐳 Whale votes

0 votes > 5% VP
No whale votes on this proposal.

Full proposal

Original markdown · Gearbox

Author

desnakeee.eth

Summary

Mellow are going to migrate LRT vaults to new contracts starting Monday 28'th. Current adapters & priceFeeds are incompatible with new contracts and will revert after migration if stay untouched.

It's proposed to change main feeds to wstETH, prohibit using deposit adapters & opening new positions. After Mellow migration we will deploy new adapters & priceFeeds to bring this integration back to full functionality.

Price Oracle

  • rstETH
    • Main: wstETH/stETH exchange rate * Chainlink ETH/USD already deployed at 0x3cC17FF3CA71Ebf43bF108336cC9158995f0c…

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