Calling all veCRV holders
On 18th of July, Pharos submitted a proposal to the Curve DAO in response to the call for risk providers to cover crvUSD and Mint Markets. We already monitor crvUSD in production today and this proposal lets us provide a more comprehensive and DAO-focused commitment to an asset we already support.
Since inception, Pharos has provided transparent, unbiased reports on 400+ stablecoins and flagged every major depeg before it happened. That is the track record we are bringing to crvUSD.
Our KPIs should this proposal be passed includes:
1. Pre-vote coverage: โฅ95% of in-scope mint-market and PegKeeper proposals receive a published risk report before the DAO vote.
2. Monitoring coverage: 100% of active in-scope markets and PegKeeper pools under continuous automated monitoring.
3. Critical response: human escalation to the DAO/eDAO channel within 4 hours of a critical trigger, with a risk read and a recommended action. Triggers are DEWS Warning tier from day one, joined by solvency-side triggers (soft-liquidation losses, health-distribution deterioration, PegKeeper depletion) as the trial instrumentation ships.
4. Escalation quality: โฅ90% of escalations include a specific, actionable recommendation tracked to resolution.
5. Miss accounting: every material crvUSD stress event (bad debt, depeg, PegKeeper depletion) receives a public post-incident review stating whether our monitoring flagged it in advance; misses are reported as misses.
6. Reporting: quarterly progress updates against these KPIs, plus semiannual crvUSD market-health reports.
7. Reusable deliverables: โฅ6 documented, reusable assets delivered under perpetual license per mandate period (enumerated in Section 7).
We report all KPIs publicly, so the DAO can audit our performance against our own commitments.
The proposal has now entered a preliminary voting phase where the DAO selects its preferred risk provider, not the release of capital.
We are calling on all veCRV holders to vote for a safer and transparent risk provider for crvUSD and its mint markets. Vote Pharos.
Vote here:
Our detailed proposal: