On-chain proposals from the DAOs that govern Stellar protocols — voted on-chain, summarized here with the context behind each one.
Aquarius governance proposal seeks to whitelist USDY, Ondo's yield-bearing Treasury-backed stablecoin, for liquidity voting and AQUA rewards. The move expands institutional asset diversity on Stellar's DEX incentive layer.
Aquarius governance proposes whitelisting PYUSD (PayPal USD) for liquidity voting and AQUA reward eligibility. The move removes asset-flag exclusions that currently prevent PYUSD from participating in Aquarius incentive mechanisms.
Aquarius governance proposal seeks to whitelist GYEN and ZUSD, two GMO Trust stablecoins, for liquidity voting and AQUA rewards. Both assets are regulated, listed on major exchanges, and actively traded on Stellar.
Aquarius governance proposal 115 aims to improve SDEX liquidity by adjusting the SpreadWeight formula's exponent from 8 to 69. The change concentrates rewards within the first ~2% of the order book, encouraging tighter spreads and higher-quality market-making.
YieldBlox DAO governance proposal queued to increase CETES supply cap from 5M to 20M tokens. A follow-up proposal will be required after one week to enact the configuration change.
Aquarius governance proposal shifts daily AQUA reward distribution from 3.5M/3.5M (AMM/SDEX) to 5M/2M, prioritizing the protocol's native AMM. Total emissions unchanged at 7M daily. The rebalancing aligns incentives with AMM's bribe revenue and reduces farming risk.
Aquarius proposes modifying SDEX reward distribution to split incentives 50/50 between buy and sell sides. The change prevents token issuers from dominating rewards through asymmetric liquidity while minting large volumes. It improves fairness, trader exit liquidity, and encourages symmetric market-making.
Aquarius proposes deprecating AQUA voting in favor of ICE-only governance. AQUA currently represents less than 1% of voting weight; the change simplifies contract logic and clarifies ICE as the core commitment mechanism.
YieldBlox DAO proposes transferring 2.15M BLND tokens from its treasury to the Backstop Manager contract. The transfer bootstraps YieldBlox V2's backstop with a price floor set at 80% of market value at creation time, managed by the YieldBlox Security Council.
YieldBlox DAO governance proposal to deposit 567,793 liquid LP tokens to the Backstop Manager contract (AEM5) for YieldBlox V2 backstop functionality. Contingent on Proposal 33 passing.
YieldBlox DAO governance proposal to withdraw its full deposit from the V1 backstop pool. The action, following Proposal 32's queueing, reallocates capital from the DeFi money market's legacy system.
Aquarius DAO proposes repealing a 50M AQUA grant to WhaleHub, arguing the unproven platform risks treasury stability and ecosystem priorities. The proposal identifies treasury depletion risks, lack of demonstrated value, BLUB token dilution concerns, poor market timing amid price struggles, and governance gaps as grounds for repeal.
YieldBlox DAO proposes withdrawing its full backstop position from the V1 pool to reallocate capital and consolidate operations.
YieldBlox DAO governance proposal to unlock the final v1 emissions claim. Once v1 emissions accrue, the DAO can claim all remaining rewards, with follow-up proposals to come for LP token distributions.
WhaleHub, a yield optimization platform, proposes a 50M AQUA grant from Aquarius to lock tokens for maximum ICE rewards and seed a BLUB-AQUA liquidity pool. The platform aims to attract new users and boost ecosystem liquidity through accessible, boosted-yield staking.
YieldBlox DAO governance proposal to transfer 350,000 LP token shares to the Backstop Manager for deposit into the YieldBlox V2 backstop pool, following the successful claim of unlocked backstop tokens.
Aquarius proposes protocol-native bribes powered by trading fees, directing portions to voter incentives weekly. Ties bribe availability to pool usage, aligning governance with productive markets. At current volumes, would generate ~$750/day in bribes.
YieldBlox DAO governance proposal #29 executes the first withdrawal from its v1 pool, utilizing Soroban Governor and the Blend protocol's backstop module contract to transfer LP tokens to the DAO contract.
Reflector DAO proposal to add a new oracle contract quoting foreign exchange rates for fiat currencies. The new data provider expands Reflector's price feed capabilities beyond crypto assets to support cross-currency DeFi use cases.
YieldBlox DAO governance vote to withdraw 350,000 shares (approximately half of the DAO's 750,000-share holdings) from the V1 backstop contract. This partial withdrawal is a key step in the DAO's transition strategy from V1 to V2 pool infrastructure.
YieldBlox DAO proposes transferring 2.15M BLND to the Backstop Manager contract to bootstrap YieldBlox V2's backstop mechanism. The transfer enables the YieldBlox Security Council to manage funds and claim protocol emissions.
YieldBlox DAO proposes accepting admin role of its V2 Blend lending pool. Vote live on-chain via Soroban Governor governance framework.
Aquarius proposes restructuring SDEX rewards from liquidity provision to trading volume, introducing a two-phase plan: decouple SDEX and AMM voting, then launch trading competitions with anti-wash-trading safeguards.
YieldBlox DAO launches a governance temperature check to add Etherfuse's CETES and USTRY tokenized government bonds to the YieldBlox V2 pool at launch. The proposal seeks community approval before finalizing pool parameters. Asset details and full attestations are available on Etherfuse's dashboard, with ongoing discussion in the YieldBlox Discord.
YieldBlox DAO's proposal to claim Backstop emissions (proposal VIII) is up for voting. Claimed earnings deposit into the DAO's reserves, compounding governance capital. Regular submissions maintain and grow the protocol's resources.
Aquarius DAO governance proposal to compensate a user 15.7M AQUA (50% recovery) for losses incurred in the XLM/AQUA stable liquidity pool during the Classic-to-Soroban migration. On January 25, 2025, UX issues led the user to deposit highly unequal amounts, triggering $42,000 in losses. The proposal pairs DAO contribution with community matching.
Reflector DAO proposes adding USTRY, a tokenized short-term US Treasury asset built on Etherfuse. The asset enables yield-bearing investments directly on Stellar.
Reflector proposes adding CETES (Mexican Federal Treasury Certificates) to its price feed oracle. Integration powered by Etherfuse's tokenized government bonds enables Stellar DeFi protocols to incorporate real-world assets from Mexico.
YieldBlox DAO has proposed adding USDGLO—the Glo Dollar stablecoin that donates interest to global poverty relief—to the YieldBlox V2 lending pool. The governance proposal is open for voting and will determine which stablecoins users can deposit and borrow against.
Glo Dollar, a non-profit stablecoin, proposes integration into Reflector's oracle to enable Blend DeFi pool support.
