I propose to remove the rewards for the bnUSD/USDT pair.
The pair is totally of-peg since a few days and trading volumes are non-existent.
We rather add those rewards to Borrowers. The amount of Collateral and loans went down alot so a bit of added incentive to borrow might help.
Thoughts?
I wouldn’t mind removing rewards for IUSDT. IMO, it’s not really that useful because the cost of Orbit Bridge cancels out any benefit with regard to saving on trading fees on a CEX. You’re right, the volume is pretty much non-existent and the LP only has 6 participants.
Do you want to make a proposal? I will support it.
I never understood the need for USDT anyway, since USDC is bridged from Orbit Bridge as well, with similar fees.
0.5% wont do much for the borrowers in my eyes though, maybe direct it to the USDS/bnusd pair instead?