Congratulation to Venus community, VAI is at peg.
We have looked at the BUSD data and see that people are migrating away from it. @chaoslabs proposed some actions to offboard it gracefully that we support.
The VAI USDT PSM
We give again the link to the VAI USDT PSM. We highly recommend to use it if you want to convert USDT to VAI and VAI is above $1.001. Integration on aggregator is still WIP so please be careful when you use aggregators, it is not necessary the best price.
USDT on the PSM remains low at $350. As VAI was traded up to above $1.01 on PCS v2, someone could have used it to have a better price.
Consider providing liquidity on Pancake Swap
There is currently very little liquidity on Pancake Swap v3 (full disclosure, only one of Steakhouse chef).
As you can see, the lack of liquidity provide some juicy yield, but obviously this is not financial advice. The USDC<->VAI 0.05% is important because it’s integrated on Coingecko. Here are the parameters that we use.
We also created another pool that should be more efficient at scale. Please consider creating a similar one (for USDT would be great)
We will consider doing so with our next compensation.
New interest rates
As the peg is currently back in order, we will move with proposing Option 1 above for your consideration (assuming no strong opposition). We no longer feel the need for dramatic action like Option 2 (but will reconsider if situation changes).
Also want to remind that the VAI vault still provide 8% APY in XVS if you have idle VAI.