Raft enables the generation of R, a leading decentralized USD stablecoin, by opening a CDP (collateralized debt position), or by depositing stablecoins into the Raft protocol reserve.
R is the most capital-efficient USD stablecoin backed by high-quality collateral assets such as stETH (Lido Staked Ether) and rETH (Rocket Pool ETH) and reserve assets such as CHAI, the yield-bearing version of the DAI stablecoin. R aims to be the stablecoin of choice within the decentralized ecosystem, with deep liquidity across many trading pairs, a high yield, and a stable peg.
This proposal aims to secure the option to introduce additional rewards into the R/sDAI pool on Aura. The acquisition of veBAL votes in the market sometimes follows a predictable pattern, and there can be instances where the actual results fall short of initial expectations. To address this, we seek the capability to directly add rewards to the pool as a safeguard for situations of underperformance. This will enable the RAFT DAO to effectively boost rewards, ensuring that LPs’ Annual Percentage Rate (APR) remains stable. Maintaining a robust Total Value Locked (TVL) in the pool is crucial for Raft’s Growth and the adoption of R.
R/sDAI Pool: Balancer
The Aura DAO multisig will execute the ‘setExtraReward’ function for the R/sDAI pool. This action will create a new ‘VirtualRewardPool,’ allowing the RAFT token to be sent to this stash and queued within the new virtual reward pool. RAFT reward token sent to this stash will be queued over the following week.
Reward token details
RAFT address: 0x4C5Cb5D87709387f8821709f7a6664f00DcF0C93
Please note that we intend for this proposal to undergo a vote in the snapshot round on Thursday, October 12th.
Given this timeline, the discussion period for this proposal is shorter than usual. We aim to finalize the addition of rewards to the R/sDAI pool by Monday, October 16th. Therefore, we kindly request that the discussion period and the Snapshot voting occur before this date. Your prompt participation is highly valued.
The voting will employ a single-choice format. You can vote “For” or “Against” this proposal, or you may opt to abstain. Voting “For” this proposal signifies your support for granting flexibility in adding extra RAFT rewards to the R/sDAI pool.