If you are a USDC PSM user or integrator, please be aware of the upcoming changes as part of the LitePSM migration plan.
According to the plan outlined by @BlockAnalitica, the final phase of the LitePSM migration is approaching.
Pending Sky Governance approval, this final phase, known as âPhase 3,â is expected to be included in the October 3, 2024 Executive Vote (subject to change).
Once implemented, the following changes will take effect:
âąÂ All remaining USDC reserves will be migrated from PSM-USDC-A to LITE-PSM-USDC-A. Before this transaction is executed, tin and tout fees will be set to 0%.
âąÂ tin and tout parameters will be reduced from 0.01% to 0%.
âąÂ Debt Ceiling (DC-IAM Line) will be reduced by $2.5 billion, from $2.5 billion to 0.
âąÂ DC-IAM will be disabled.
Final offboarding parameters will be shared in a forum post by @BlockAnalitica when the proposal for the final phase (Phase 3) is initiated.
PSM-USDC-A users and integrators are strongly encouraged, following @BlockAnaliticaâs recommendations, to migrate to LITE-PSM-USDC-A before the offboarding of PSM-USDC-A.