Stakeholder Value: IP stakeholder value and safety (IPT holders, USDi users & holders) are top priority.
Delegate Openness: Protocol delegates ought to be transparent and open with the broader community regarding their decisions and reasoning.
Real-World Application: As the protocol (and DeFi ecosystem as a whole) grow, we must focus on enabling real world uses of USDi.
Risk Management: As IP continues to add new features new risks will be exposed. It’s imperative that these are addressed and we minimize impact to stakeholders.
Interest Protocol is one of the most unique lending models in the DeFi ecosystem. The liquidation engine and incentives allow for a more user-friendly model that aligns with the values of the broader DeFi ecosystem. Following this line of thought, it’s important that delegates are not necessarily part of broader groups, but that individual contributors are able to participate and be heard in the governance model.
I have been active in the IP community, helping to aggregate resources and build the resources page of the docs. I look forward to the opportunity to help grow IP’s user base through organic traffic rather than incentives and shills as many other protocols have done.
My primary goal is to use my knowledge of DeFi lending markets and liquidation engines to help IP grow into a powerhouse
Conflicts of Interest & Resolution:
As an individual delegate not heavily involved with other protocol governance I am able to provide an objective view with minimal conflict. In the event that a conflict approaches, I will:
Make it publicly known
Delegate voting power to a party with less/zero conflict
I may not meet the compensation eligibility as I haven’t been involved in the governance votes over the last 90 days. I’m somewhat active in the forums, more so as of recently, and of course attended the first protocol development call.
Hello, thanks for letting me know, unfortunately then you can’t participate in the program at this time. However, I would encourage you to remain active so that when opportunities do come you would meet eligibility
I think it’s important to weigh the risk of sUSD losing it’s peg against the additional collateral that it would bring into the protocol. Given that sUSD is collateralized by SNX, IP would face non-marginal risk if Synthetix had to mint significant amounts of SNX to cover bad debt.
I am not disagreeing that it could be beneficial to add it as a collateral. There is good reason that both Aave and Compound allow it. However I will point that Aave has been careful to list sUSD in “Isolation Mode,” thus limiting the other assets they can use as collateral and the assets that they can borrow.
Proposal to add CHAI as collateral
Not much to comment on this proposal. If we take on CHAI collateral, we inherit some risk from MakerDAO, but if they have any sort of default event then it won’t just be IP that’s in trouble.
Proposal to change governance parameters
Again, not much to comment on this. I had a brief exchange with Getty in the comments of the proposal post where I suggested we make the parameters some ratio of the IPT float, but as he astutely pointed out that would require an oracle to get the IPT float. In this case it’s more efficient to adjust the parameters as needed by proposal.
Passing this proposal will facilitate increased governance debates/votes and more nimble protocol development.
Proposal to raise Uniswap LTV
It is reasonable to raise the initial cap rate to align with other collaterals of similar risk profiles. The current UNI LTV ratio is leftover from the early days of IP.
In favor of this proposal. If we take on CHAI collateral, we inherit some risk from MakerDAO, but if they have any sort of default event then it won’t just be IP that’s in trouble. I think it is an appropriate add given the risks and will be voting as such.
Proposal 20: Transfer 600 USDi to Feems for delegate administration:
In favor of this. It was established that as part of the recognized delegate program an administrator would be required to oversee the program and that they would be compensated for their effort. Feems has done a great job running the program and making sure that delegates meet the requirements.