sumptuosol
commented
1 year ago i appreciate your efforts for putting this proposal together, i believe it's right thing to do at this precarious moment, a welcome development.
Closed aperire closed 1 year ago
sumptuosol
commented
1 year ago i appreciate your efforts for putting this proposal together, i believe it's right thing to do at this precarious moment, a welcome development.
macalinao
commented
1 year ago Thank you for raising this issue. This does not need a governance proposal since it has to do with exploits, so the Saber team has disabled the faulty asset listings.
mdotk
commented
1 year ago Thank you for raising this issue. This does not need a governance proposal since it has to do with exploits, so the Saber team has disabled the faulty asset listings.
Restock SUNNY SUNSBR rewards
Summary
I propose to remove pools from Saber gauges votes/Quarry that involves assets that are exploited or involved in non-functioning protocols. The list of pools are as follows.
Motivation
Previously, Saber has deprecated pools from gauges that involve exploited assets (UST, CASH) or deprecated/non-functioning protocols (Wormhole _v1 tokens).
If these gauges are not removed, users tend to set a strategy to provide huge liquidity and vote for those pools to solely earn SBR yields. Once other users buy in and add liquidity, the initial depositer removes liquidity and sell assets at a huge profit and move onto other pools involving exploited tokens to repeat.
We have seen this happen with USDC-fUSD pool, which currently holds 1.97% of voting power. To protect Saber users and maintain the protocol safe, it is cruicial to remove the pools mentioned above.
Below is the price action of fUSD regarding Saber's gauge votes.
Actions
Remove following pools from Saber gauges and Quarry.