MGP-11: Adding Glo Dollar as an equivalent token to cUSD

Governance
1

Authors: @garm

Overview

This proposal will set Glo Dollar as an equivalent token to cUSD on the SortedOracles contract, in order to accommodate completing a proposal to Celo governance to add Glo Dollar as a fee currency.

Proposed changes

  1. Add USDGLO as an equivalent token to cUSD

    1. Contract: SortedOracles.addOracle

    2. Function: setEquivalentToken

    3. Args: "0x4f604735c1cf31399c6e711d5962b2b3e0225ad3", "0x765DE816845861e75A25fCA122bb6898B8B1282a"

    4. Value: 0

Risks

Similar to the Celo proposal, this proposal is low risk as Glo Dollars are 1:1 backed by assets held off-chain in US financial institutions, notably a mix of cash and US treasuries. More information here: Glo Dollar is backed by cash and US Treasuries

Proposal json

[
    {
      "contract": "SortedOracles",
      "function": "setEquivalentToken",
      "args": [
        "0x4f604735c1cf31399c6e711d5962b2b3e0225ad3",
        "0x765DE816845861e75A25fCA122bb6898B8B1282a"
      ],
      "value": "0"
    }
]

Useful Links

4 Likes
3

The proposal is now submitted: MGP-11: [fixed] Adding Glo Dollar as an equivalent token to cUSD

Would appreciate the community voting :slight_smile:

4 Likes