Treasury League and Development League
This IIP focuses on one proposal with the goal to update the Clearpool cpPOR-DAI tranche wrapper for the DAI Senior BY.
With IIP-33, the DAO decided to remove Euler YTs from the basket of underlying yield sources of DAI Best Yield and at the same time add the Clearpool (Portofino) Yield Tranches.
Based on the Development League assessment, we need to update the Clearpool wrapper contract included in IIP-33.
This is caused by the fact that we use the Maker PSM to convert from DAI to USDC and the
availableLiquiditymethod of the Clearpool wrapper, which is used during rebalances, is returning the amount in USDC (6 decimals) rather than in DAI (18 decimals), which in turns causes rebalances to see
availableLiquidityclose to 0, hence miscalculating the rebalances.
The code for the IIP-34 can be found on GitHub here and consists of 1 action.
- 1 action to replace the Clearpool (Portofino)'s contract wrapper. The fix can be found on GitHub here.
Where the new contract wrapper is:
- Clearpool (Portofino) DAI AA YTs
Given the nature of this proposal, IIP-34 will be an Executive one, i.e. it will be moved directly to the on-chain voting phase.