Summary:
Set USDM PegKeeper action delay from 12 seconds to 0. This allows calling update() multiple times in a single tx.
Abstract:
The action delay prevents multiple update() calls in a single block, limiting PegKeeper arbitrage to 1/5 the unbalanced quantity per block. This vote removes the restriction, allowing multiple consecutive intrablock updates to arb the pool up to the available PegKeeper debt/pool imbalance.
Motivation:
The USDM PegKeeper is being deprecated since Mountain announced the graceful wind down of the USDM token. The PegKeeper current has 212k crvUSD debt that needs to be extracted from the pool. Due to the programmatic behavior of crvUSD PegKeepers, calling update() when withdrawal conditions are met is the only way to withdraw the remaining debt. Reducing the action delay to 0 will facilitate more efficient arbitrage to allow withdraw of the remaining debt.
Specification:
Call via agent (0x40907540d8a6C65c637785e8f8B742ae6b0b9968):
├─ To: 0x503E1Bf274e7a6c64152395aE8eB57ec391F91F8
├─ Function: set_new_action_delay
└─ Inputs: [('uint256', '_new_action_delay', 0)]
Vote
The vote is live here: