nolus

Prop 327: Signaling Proposal: Closing Deprecated dATOM and Osmosis axlUSDC Margin Positions

Summary

This proposal suggests the orderly closure of all remaining margin positions in two deprecated Nolus markets: dATOM (from the Neutron Astroport Noble USDC market) and Osmosis axlUSDC market. These markets have long been removed from the Nolus dApp for opening new positions, yet a number of legacy positions remain active.

At the time of submitting this proposal, the following exposure remains:

  • dATOM – Neutron Astroport Noble USDC market: ~$10,000 in active loans across 11 positions
  • Osmosis axlUSDC market: ~$19,000 in active loans across 17 positions

Proposed Action:

If this signaling proposal passes, all remaining positions in these markets will be automatically settled 30 days after the proposal passes.

Settlement will occur at the market price of the underlying asset at the time of settlement.

Position Holder Options:

  • Users may close their positions manually at any time before the settlement date.
  • Alternatively, users may take no action, in which case the protocol will automatically settle the position on the designated date.

Excess funds remaining after settlement will be automatically transferred to the position owner's wallet.

Rationale:

  • Both markets have been deprecated and are no longer available for opening new positions in the Nolus dApp.
  • The remaining exposure is relatively small and spread across a limited number of positions.
  • Closing these legacy markets simplifies protocol maintenance and removes outdated market dependencies from the protocol.

Impact:

  • All remaining positions in the dATOM (Neutron Astroport Noble USDC) and Osmosis axlUSDC markets will be settled.
  • Position owners will receive any remaining funds after settlement.
  • Nolus will fully retire these deprecated markets.

Voting:

By voting "YES" on this proposal, you support the closure and settlement of all remaining dATOM and Osmosis axlUSDC margin positions 30 days after the proposal passes.