[Gauntlet] Offboard AUSD from Euler Yield

Euler DAO Markets
1

Summary

This proposal recommends offboarding AUSD from Euler Yield due to low demand. There has been no activity on this vault in the last 60 days. This recommendation is simply due to a lack of activity.

Supply

Asset Total Supply ($)
AUSD 0

Offboarding Process

We recommend the following offboarding process:

  • Set supply cap to 100K
  • Ramp down LTVs to 0 over 30 days
  • Inform users about the offboarding on public channels
  • Once the ramping period is over, remove the vault from the UI

Next Steps

  • We welcome community feedback.
2

First of all re7 AUSD should be returned!

3

Objective supports this proposal.

Agora’s distribution model is partner-focused, not retail-first. More than 50M out of 60M AUSD supply on Ethereum is held by addresses, attributable to Agora (e.g. for liquidity), institutions, or otherwise addresses that look like simple custody wallets, inactive in DeFi.

Although we consider Agora’s AUSD to be a lower-risk stablecoin, the absence of deal flow to Euler means it is not reasonable to expect supply dynamics to change in the near term.