Angle Protocol Governance | DAO Radar

Angle Protocol

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Decentralized stablecoin protocol. Angle governance coordinates AIPs through forum discussions and Snapshot voting.

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Treasury

AIP - 108: Balance sheet simplification #3

In the wake of the lack of activity within the protocol, this is a vote to simplify the balance sheet of the protocol. ## Proposal Proposal is to: - swap the bERNX and bC3M in the backing of EURA on mainnet back into EURC and remove these assets as a collateral, - reduce the debt ceiling of the collateral assets of EURA borrowing modules to 0. Note that people who have borrow positions on other collateral assets will still be able to repay their position or hold them if they want at no extra...

proposal·0xfdA4…0185·Oct 21

closed

Misc

Absolutely thrilling news for all Angle users!

Attention Angle users! We're thrilled to announce that the much anticipated Angle distribution is officially open for your active participation. Discover the launch date and dive into the transformative changes it holds for our community in the details provided below. Take a moment to assess your eligibility for a potential Airdrop by exploring additional information [HERE](https://claim.angleprotocol.cyou/rewards). Seize the opportunity to be a part of the thrilling developments unfolding...

proposal·0x53B9…a092·Aug 17

closed

Treasury

AIP - 107: ANGLE token buyback

This is a vote to: - redistribute to veANGLE holders the proceeds from the sale of the Protocol's veAERO and veVELO positions - remove the lock on the veANGLE token so all people with veANGLE can unlock their veANGLE back into ANGLE - remove the tokens on the old FeeDistributor contract - enable the conversion of Prots into ANGLE tokens - remove the Protocol's liquidity positions on Arrakis - launch a buyback program funded with the treasury of the Protocol with the Protocol seeding a single...

proposal·0xfdA4…0185·Feb 18

closed

Treasury

After a Successful DAO Vote, Angle decided to Launch the 1 Phase of the $gANGLE Distribution

Background Angle's DAO governance is considering altering the Angle Gold allocation rate, a newly approved function where 1% of bridge volume fees are converted to $gANGLE. $gANGLE has the potential to increase bridge transaction volume and reward holders, but will $ANGLE face market cap reduction if a derivative token supply is increased, or will the increase in bridge volume contribute to greater value for users. - Proposal Increase $gANGLE from 1% of bridge volume fees to 2% bridge volume...

proposal·0xFf3C…8870·Nov 21

closed

Treasury

AIP - 107: Balance sheet consolidation proposal #2

Hello, Following the first proposal posted last week on the balance sheet consolidation process for the protocol, this is another proposal to continue the balance sheet consolidation process of the protocol. ## Context Contrarily to the previous proposal posted which was mostly about reducing debt ceilings and killing some AMO positions of the protocol. This proposal is about getting rid of some of the tokens and positions that the protocol has accumulated by farming rewards across various...

proposal·0xfdA4…0185·Nov 19

closed

Treasury

AIP - 106: Balance sheet simplification

This is a proposal to simplify the balance sheet of the protocol and remove some elements which have so far not brought a lot of value to the protocol. ## Context The protocol had many deployments across different chains and holds some positions on chains which are not yielding a lot or are not getting a ton of usage. For the sake of simplifying the balance sheet, reducing risks and making it easier for everyone to comprehend the exposures they're facing when they're in the protocol, we...

proposal·0x617c…1081·Nov 7

closed

Parameter Change

AIP - 105: Add Moonwell EURC Morpho as collateral on EURA Transmuter Base

# Context This is a proposal to add the Moonwell flagship EURC Morpho vault (https://app.morpho.org/vault?vault=0xf24608E0CCb972b0b0f4A6446a0BBf58c701a026&network=base&morphoPrice=1.0) to the EURA Transmuter on Base in order to provide Angle with a reliable, low cost, and efficient means of generating stable, low risk returns on EUR-denominated reserves backing EURA. The EUR Base Transmuter accumulated over 1.3m EURC over the past weeks, but contrary to USDC there are no native bridges on...

proposal·0xfdA4…0185·Nov 5

closed

Partnerships

AIP - 104: Add XEVT to the Transmuter for EURA

## Context This is a proposal to add the OpenTrade EURC Yield Vault (XEVT) in order to provide Angle with a reliable, low cost, and efficient means of generating stable, low risk returns on EUR-denominated reserves backing EURA. ### OpenTrade Overview OpenTrade is an institutional grade platform for safe, compliant USDC & EURC yield products. Built by a team of former Centre (joint venture between Circle and Coinbase that launched and governed USDC/EURC) leaders, and backed by leading...

proposal·0xfdA4…0185·Sep 27

closed

Protocol Upgrade

AIP - 103: Deploy a Transmuter instance for EURC on Base and activate stEUR on the chain

Hello, This is a proposal to: - deploy a Transmuter with the right to mint EURA on Base and with EURC as a collateral - activate the stEUR savings product on Base - seed a EURA/USDA liquidity pool on the chain ## Context The protocol has a Transmuter instance on Base for USDA with USDC as a collateral. It allows anyone to swap USDC and in a single transaction get into the stUSD yield product of the protocol. EURC has gained quite a lot of momentum recently on Base, notably thanks to a...

proposal·0xfdA4…0185·Sep 16

closed

Misc

AIP - 102: Add EURCV into the Transmuter for EURA on Ethereum

This is a vote to add support for EURCV within the Transmuter. ## Context [EURCV](https://www.sgforge.com/product/coinvertible/) is a stablecoin developed by Forge, an entity owned by Société Générale, one of the largest French banks in the market. It is a regulated MiCA-compliant stablecoin listed across several centralized exchanges (including Bitstamp). Through its CEX integrations, it is meant to become one of the most easiest way to onramp into crypto for European DeFi users. As a...

proposal·0xfdA4…0185·Sep 16

closed

Protocol Upgrade

AIP - 101: Seed USDA in Euler Cluster

# Context In an effort to further USDA adoption and provide additional options for deployment of protocol-owned-liquidity, this proposal adds a USDA cluster on Euler v2. # Proposal * Seed 500k USDA into Euler USDA vault cluster on Ethereum Mainnet # Rationale ## A new lending protocol on Ethereum Euler v2 is set to launch shortly, and will be a complete redesign to allow for modular vaults that can be connected together to form isolated lending clusters on any set of arbitrary collateral and...

proposal·0xfdA4…0185·Sep 10

closed

Parameter Change

AIP - 100: Add USDM as a collateral on the Transmuter on Ethereum

This is a proposal to add Mountain's USDM as a collateral in the Transmuter to mint USDA on Ethereum. ## Context On USDA, the protocol derives its yield earnings from 2 main sources: - investments of USDC into the Steakhouse Metamorpho vault: this brings exposure to DeFi yields - the bIB01 held by the protocol on its backing: this brings exposure to TradFi/RWA yields. When it comes to bIB01, the protocol has to pay an issuance and redemption fee of at least 20bps (+ what is paid to market...

proposal·0xfdA4…0185·Aug 5

closed

Misc

AIP - 98: Seed USDA & EURA Steakhouse Metamorpho on Base

# Context In an effort to increase USDA and EURA adoption on Base, this proposal increases the utility of those tokens on Base by providing lending facilities. Built on Morpho and curated by Steakhouse, the proposal will improve utility but could also increase revenues and liquidity.. # Proposal * Seed 500k USDA into steakUSDA on Base * Seed 500k EURA into steakEURA on Base # Rationale ## A growing L2 without much stablecoin competition Base is showing significant traction, having a...

proposal·0xfdA4…0185·Jul 12

closed

Grants

AIP - 97: Crosschain Transmuter Deployment

This is a proposal to deploy the USDA Transmuter (Angle stablecoin primary market) on Arbitrum and Base. # Context For more context check out the Angle governance forum (https://gov.angle.money/t/aip-97-crosschain-transmuter-deployment/858) # Proposal - Deploy a modified version of the Transmuter and grant it the minter role on Arbitrum and Base. The modified version will have a debt ceiling accepting only USDC as a collateral. Debt ceiling can be updated by the guardian address of the...

proposal·0xfdA4…0185·Jun 5

closed

Parameter Change

AIP - 96: Adjust savings rate update methodology

Hello, This is a proposal to update the operational way with which the rates in Angle savings product (stEUR and stUSD) are updated. ## Context The way rates for stEUR and stUSD are currently computed is explained in details [here](https://docs.angle.money/savings/savings). Precisely speaking, they are updated on all the chains where the contracts are deployed by the guardian multisig when the following conditions are met: - last rate update was 7 days ago - or, current rate is too high and...

proposal·0xfdA4…0185·May 27

closed

Treasury

AIP - 95: SAFE distribution to veANGLE holders

This is a vote to distribute the SAFE allocation received by the protocol through its different multisig to veANGLE and staked sdANGLE holders. ## Context The management of the protocol involved some multisig which held assets. This is the case of the [governance multisig](https://etherscan.io/address/0xdC4e6DFe07EFCa50a197DF15D9200883eF4Eb1c8) of the protocol, but also of the [guardian](https://etherscan.io/address/0x0C2553e4B9dFA9f83b1A6D3EAB96c4bAaB42d430) and the [AngleMaster...

proposal·0xfdA4…0185·May 23

closed

Misc

AIP - 93: Adjust ANGLE Liquidity Positions

Hello, This is a proposal to adjust the liquidity positions held by the protocol as part of its Arrakis PALM market making program. ## Context In August last year, [it was voted](https://snapshot.org/#/anglegovernance.eth/proposal/0xc2c585d57217fad2a3ff0806bb30d34ab6b27afafabcff4722cff5c585343033) to start a program to bootstrap ANGLE liquidity on the ANGLE-ETH pool on UniswapV3 on Ethereum. This significantly increased the ANGLE liquidity onchain, but after 9 months, it may be time to...

proposal·0xfdA4…0185·May 6

closed

Treasury

AIP - 92: Mint EURA with EURC

Hello, This is a proposal to mint EURA using 533,962 EURC the protocol has in its EURA treasury multisig. ## Context The balance sheets of EURA and USDA are independent. As part of the launch of USDA, excess treasury from EURA backing was moved in a dedicated 4/6 multisig to effectively separate the backing of the 2 stablecoins. For EURA, the multisig is deployed [here](https://etherscan.io/address/0x5f9F41497f9e11fd7D4c4B067413199682eE2CFF). Recently, the end of the STIP incentives combined...

proposal·0xfdA4…0185·May 6

closed

Misc

AIP - 91: Take ownership of the smart contracts of the USD stablecoin

This is a vote for the DAO to take full ownership of the smart contracts behind USDA. ## Context The USDA stablecoin of the protocol has been deployed on 11 different chains with an ownership granted to Angle Labs for us to set it all up rapidly and efficiently in test phase. While in some chains, ownership has already been shared with the DAO, we're posting this vote for the DAO to take the full and sole ownership of USDA smart contracts. ## Proposal The proposal is for veANGLE holders to...

proposal·0xfdA4…0185·Apr 24

closed

Parameter Change

AIP - 90: Revamp ANGLE token emissions

Hello, This is a proposal to revamp the way ANGLE tokens are being issued by the protocol in order to improve the efficiency of emissions while reducing the total amount of tokens issued by the protocol. ## Context Right now ANGLE emissions are voted by veANGLE holders following a pre-determined schedule to whitelisted gauges. The inflation rate is such that ANGLE emissions are decreasing every week at a rate such that they are divided by 1.5 every year. To check how many ANGLE tokens have...

proposal·0xfdA4…0185·Apr 12

closed

Protocol Upgrade

AIP - 89: Seed a EURA/USDA liquidity pool

Hello, This is a vote for the protocol to seed a EURA/USDA pool on Uniswap V3 (0.05%) on Ethereum. ## Context The USDA and EURA native mechanisms (Transmuter) have been integrated by 1inch. This means that anyone coming with USDC from 1inch may be able to get access to USDA, and anyone coming from EURC may be able to get EURA. Directly seeding liquidity in pools is a way for the protocol to avoid having to incentivize liquidity on these pools and minimize its cost of capital. ## Proposal We...

proposal·0xfdA4…0185·Apr 9

closed

Protocol Upgrade

AIP - 86 (bis): Swap EURC to ERNX

This is an extension of this [vote of the EURC to ERNX swap](https://snapshot.org/#/anglegovernance.eth/proposal/0xfe921b3193f9ed342d87e64dfb83c2dc42001cac41720cbc491d8cda6d833a09) to clarify and validate with the DAO some elements which were not fully specified in the first implementation of the vote. In particular, the vote mentioned a change in the oracle methodology for the Transmuter. Here is the fully tested and reviewed PR with the proposed changes:...

proposal·0xfdA4…0185·Mar 29

closed

Misc

AIP - 87: Launch a USD stablecoin

Hello, This is a vote to launch a USD stablecoin with the protocol, leveraging the same technology as what was built for EURA. ### Context Angle has been since its launch focused on the Euro. The technology we have developed on the Euro can work for any type of asset, and so while we had discussions last year to do it on the gold, we suggest to start our expansion with a USD stablecoin: USDA. Idea is that this USD stablecoin should come with a savings solution, stUSD, that earns a portion of...

proposal·0xfdA4…0185·Mar 28

closed

Treasury

AIP - 86: Swap EURC to bERNX

This is a vote to: - add bERNX by Backed as a collateral in the Transmuter - adjust Transmuter oracles to include deviations for every oracle and facilitate the conversions of EURC into EURA with no fees and extra slippage - swap 7m EURC from the Transmuter into bERNX by Backed ## Context ### On EURA Balance sheet The balance sheet or EURA looks like the following: | | EURA | | Today | Target | |-------------------|:-----------------|:-----|----------:|----------:| | **Allocation** |...

proposal·0xfdA4…0185·Mar 19

closed

Protocol Upgrade

AIP - 85: Rebrand agEUR into EURA

## Proposal This is a vote to change the symbol and name for the agEUR contract wherever it is deployed so it becomes EURA rather than agEUR. And also to change stEUR name for `staked EURA`. stEUR is to keep its current symbol, just like agEUR (EURA) logo should remain the same. You can read more on the added value of rebranding in the discussion forum. ## Implementation This requires upgrading the protocol agEUR and stEUR contracts on all chains on which it is deployed and setting the new...

proposal·0xCF26…50Ec·Mar 4