Feil Proposal 🌲

Abstract

Migrate all ETH from Fei protocol-controlled value into Yearn ETH Vault.

Allow redemptions of outstanding FEI for yvETH.

At current system state, 1 FEI would be redeemable for approximately $1.9123.

How to propose 🚧

A detailed guide will appear here when the proposal is deemed ready.

The proposal needs the following permissions:

1. core.grantRole(core.PCV_CONTROLLER_ROLE(), proposal) to migrate PCV,
2. core.grantRole(core.BURNER_ROLE(), proposal) to burn FEI,
3. fei.unpause() to burn FEI, as pause prevents burning,
4. proposal.rug_pull() to migrate all ETH and deposit into yvETH.

How to redeem 💰

Redeem using allowance

1. fei.approve(proposal, 2^256-1)
2. proposal.let_me_out() or proposal.let_me_out(amount)

Redeem using permit

1. Generate a Fei Permit with FeilProposal as spender and with the amount you want to redeem.
2. proposal.let_me_out_i_have_permit(owner, spender, amount, deadline, v, r, s)

Tests

Run brownie test -s to simulate the migration and see the current outstanding debt and redemption rate.