The strength and stability of our ecosystem depend on the trust and utility of our stablecoin, R. As we prepare for CEX listings for R, and the launch of RAFT, the peg will become a primary driver behind the protocol’s growth.
To restore the peg of R, we need to address a few outstanding positions generated through the one-time fee vaults. Our aim is to encourage users with existing and risky v1 positions to close them and migrate their collateral to the new v2 vaults to generate R.
We invite all 17 users listed in the table below (currently representing the lowest collateralized positions up to a HF of 1.27) to close their outstanding positions and migrate their collateral towards the interest-based v2 vaults by Monday 2 October at 00:00 UTC. Any of these positions that remain outstanding after this deadline will be redeemed. To ensure fairness and minimize disruption, users will be compensated for any fees incurred in the process of generating R.
From the table, it is evident that only a couple of addresses represent the majority of the R amount set for redemption.
Benefits and Call to Action
By migrating or redeeming these positions, the R peg will restore to $1. This is not just a short-term fix but a stepping stone towards a promising future for the Raft ecosystem.
We have recently launched the Peg Stability Module (PSM) which, once the peg is recovered, will keep it tight without need for further interventions. The usage of the R Savings Module, which has already gathered $ 8 mln TVL, will increase further as users will have more confidence in R as a stablecoin with a tight peg.
This sustainable path will open doors for more partnerships and integrations, solidifying our position in the DeFi space.
Your engagement in this decision is critical. We invite you to discuss, share your insights, concerns, and preferences in the comments below.