More utility to the INDY token

Currently, we have Interest on each CDP, 10.95% for iETH and iBTC, with iUSD the interest is higher up to 20.075%. In these 3 scenarios interest is paid in ADA and ADA earns more Value.

I propose that based on this INDY (governance token) system has a higher utility.

In this proposal we seek to preserve the payment of interest in ADA, but with a difference, that the protocol has the option to also charge or pay those annual interests with INDY, having the option to choose both assets to pay those interests, i.e., pay with INDY or ADA.

But in order for INDY to have more use and utility, the payment of those interests would be discounted in the fees of each CDP. By Paying these fees, the fees could be sent to the stability pool and reward the holders of each CDP with the INDY token, this would also make INDY more and decentralized. i have 3 options in which the INDY community would vote in the DAO to reduce or discount those fees, which are:

  • Option 1: -10%
  • Option 2: -25%
  • Option 3: -40%
0 voters

If you have to pay interest of $1000 in ADA, with INDY you would pay only $600 with Option 3.

Note 1: Those who do not want to buy or hold INDY are not obligated, and can pay in ADA.

Note 2: If the problem is the PEG of each CDP, the rates could be increased, for example iUSD could go from 20% to 35% per year. if this were paid in INDY it would be 21% annual interest.(THIS GOES IN ANOTHER PROPOSAL).

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@juanCardano I suggest you read through this proposal here as what you are aiming to achieve with INDY utility is being covered here: Proposal for Phase One Treasury Management