EOS leading defibox

EOS leading defibox announced the first implementation details of the DIP56 proposal
Dear user:

Hello! The DIP56 proposal allows the execution team to use risk reserves to intervene when the exchange rate of the stablecoin USN is seriously de-anchored. The following is the first announcement of implementation details:

On March 15, 2024, after multi-signing, 30,000 EOS was transferred to the liquid.defi account to repurchase USN. As of March 25, 2023, a total of 23,000 EOS was used to repurchase and obtain 23,720 USN. The current USN exchange rate has been at 0.98 USDT for many days. -1.02USDT (i.e. anchored), the USN annual rate has been continuously reduced, so the execution team has stopped human intervention. At the same time, the remaining 7,000EOS has been paired with the market-making liquidity pool EOS+USN, and the market-making LP certificate 95,464,822 BOXI + remaining 16,367USN was transferred back to the risk reserve account reserve.defi.

The execution details are as follows:

Sell ​​16,000 EOS through the EOS+USDT liquidity pool to obtain 16,821 USDT;

Sold 16,821 USDT through the Balance pool to obtain 17,123 USN;

Sell ​​7,000 EOS through the EOS+USN liquidity pool to obtain 6,597 USN;

A total of 23,000 EOS was sold to obtain 23,720 USN.

After the above multiple repurchases, the USN exchange rate has been anchored for many days, and the execution team performed the following operations today:

Use the remaining 7,000 EOS+7,353.1187 USN market making EOS+USN liquidity pool to obtain 95,464,822 BOXI;

Transfer 95,464,822 BOXI and the remaining unmarketed 16,367USN to the risk reserve account reserve.defi.

Data on the chain: https://bloks.io/account/liquid.defi

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