Proposal to freeze BUSD on AstarNetwork EVM


Freeze BUSD on AstarNetwork EVM


@SeiyaChida (Starlat Chan Initiative)


The plan involves a phased approach to remove BUSD liquidity from Starlay on Astar EVM and transition to other assets. This is due to regulatory developments affecting BUSD.


Please refers to the BUSD offboarding plan for more context and the comprehensive plan
Following regulatory actions by the SEC and NYDFS, and Binance’s decision to cease support for BUSD, it’s crucial to offboard BUSD from Starlay to maintain the platform’s stability and compliance.


Freezing BUSD and lower the LTV and liquidity threshold

Freeze operations include no new supply, borrow, but allow repayments, withdrawals, liquidations, and interest accrual. Additionally we lower LTV and LT of BUSD in the Astar EVM pool.

  • Freeze operation
  • Decrease LTV from 80% to 75%
  • Decrease LT from 85% to 80%

Ticker: BUSD (BUSD)
Contract Address: 0x4Bf769b05E832FCdc9053fFFBC78Ca889aCb5E1E

Next Action

We will put the proposal to a vote via Snapshot in 3 days

Voting Schedule

Snapshot Voting: Dec 11th, 09:00 UTC - Nov 14th, 09:00 UTC.

Voting Option

YES - Approve the proposal
NO - Reject the proposal - Finalizing token listing evaluations and integration.

This proposal is supposed to be the proposal page, so I moved it here.

The operation of freezing BUSD is completed based on the vote with 100% “YES” outcome!