Transfer ownership of Collateral Reserve

As previously announced, we have temporarily transferred ownership of the Collateral Reserve Contract to the dev.

Protocol Update Proposals

This is in order to migrate to a new contract as the current Collateral Reserve Contract does not support rebalancing.

Please note:

• The new Collateral Reserve Contract is currently being re-written to support rebalancing. The Rebalancing logic has already been written and tested. Minting/redeeming is currently in development. Once everything is ready, collateral (FTM) will be moved to the new contract and a rebalance will take place.

Current market conditions are not ideal for a rebalance to be successful.

• We must decide on when to rebalance and by how much.
• With the extra selling pressure due to end of year taxes, it’s better to wait until at least next year.

We have decided to delay rebalancing for now. If you have any comments, please voice them on our Discord server!

Yours sincerely,