USDC Parameter Update - interest rate set to 0
voting
Expected result
Will Pass
Turnout / Quorum
65.64% / 40.00%
Voting start 2026.04.01 at 05:04:01
Voting end 2026.04.05 at 05:04:01
99.93%
2 520 286 534 umee
Yes
0.07%
1 883 568 umee
No
0%
0 umee
Veto
0%
0 umee
Abstain
Details
Proposer
umee1lleqr24mdjn5ysgg...
Total deposit
500 000 umee
Submit time
2026.04.01 at 05:04:01
Deposit end time
2026.04.15 at 05:04:01
Description
This proposal applies an emergency update to the USDC market in response to existing bad debt.
The borrow interest model is set to 0% (base, kink, max), stopping all interest accrual, including on insolvent positions, and preventing further growth of the deficit.
Borrowing and supplying are disabled, and the asset is no longer usable as collateral. The market is placed in unwind-only mode while a resolution plan is prepared.
All other parameters remain unchanged. Commonwealth post: https://common.xyz/ux/discussion/1312479-USDC%20Parameter%20Update%20-%20interest%20rate%20set%20to%200
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