Another 1% increase of the stability fee (to 17.5%) has been submitted in operation hash oohnThY3yXuKddciDQVPnodRotshCPHgebfvtHwp1NF3xPHt25U .
This increase is now in the timelock for 8 hours, after which time any member of the community may execute it.
At current time our EMA10 is 8.61%. EMA10 Data is available on our metrics dashboard .
Another 1% increase of the stability fee (to 18.5%) has been submitted in operation hash oogHY48rSmbtJQFATDY3w9CpNskFw1MCFAs64XcQwcTBngURrsv .
This increase is now in the timelock for 8 hours, after which time any member of the community may execute it.
At current time our EMA10 is 7.97%. EMA10 Data is available on our metrics dashboard .
This is now significantly more expensive than taking a traditional loan (and crypto-based options), and also carries the additional risk of liquidation (and liq. price increases as fees accrue). These increases are not sustainable IMO.
I agree with Arthur’s points and think there needs to be a better solution to this than simply raising the fee until it hits $1.
Also note that we’re likely to have the exact opposite problem when xtz price increases substantially, and everyone sells xtz for kusd to repay their loans. Until now, people have just been using it to buy more xtz, that will change along with the market.
Personally I was super into this and using it at the start, but won’t use with these fees and lost interest for the time being (though still love the project).
Half of the reason for being off-peg is just due to low liquidity, not the fee.
Not trying to argue with you but I believe I pay more than 50% a year on binance.
Anyway this fee is a temporary measure until there are more usecases/places to spend kUSD.
a DSR-like contract would probably solve the peg problem altogether.
Another 1% increase of the stability fee (to 19.5%) has been submitted in operation hash oo2DANo4YzyEKhPBJwevobKhbeeYGy95moRTXtQR5hGcmXyw9BU .
This increase is now in the timelock for 8 hours, after which time any member of the community may execute it.
At current time our EMA10 is 9.96%. EMA10 Data is available on our metrics dashboard .
Another 1% increase of the stability fee (to 20.5%) has been submitted in operation hash ooXULXdySAtV5FNNFZmLEyDhfkf5UsvSLZHwu6HfZFw9QGuVhbC .
This increase is now in the timelock for 8 hours, after which time any member of the community may execute it.
At current time our EMA10 is 8.46%. EMA10 Data is available on our metrics dashboard .
Another 1% increase of the stability fee (to 21.5%) has been submitted in operation hash ontv9Vq4HpBFMgQ4Z7L3Css6xKWKepdQtVPEgcz5MSgZCpND9Mq.
This increase is now in the timelock for 8 hours, after which time any member of the community may execute it.
At current time our EMA10 is 8.31%. EMA10 Data is available on our metrics dashboard .
Another 1% increase of the stability fee (to 22.5%) has been submitted in operation hash onunY6cUBYAmhev6gpaKUQvt8P1fw98bJ11uP2RtmmUg14Cj2bm.
This increase is now in the timelock for 8 hours, after which time any member of the community may execute it.
At current time our EMA10 is 5.26%. EMA10 Data is available on our metrics dashboard .
The EWMA10 price dipped below 5% today, which meets the criteria to stop continuous fee increases.
While kUSD is not exactly on peg, it is within an acceptable range. Hover Labs suspects that the stability fee will have a trailing effect and that price changes in the 0-5% range are driven more by lack of liquidity and XTZ price fluctuations than market forces.
A stability fee increase will NOT be submitting a stability fee change today
according to metrics, the EWMA10 is off peg by 5% or more for 3 days in a row now for dexter peg, and quipswap peg.
will there be a review of strategy or continuation of current increases to the stability fee?
