JPEG'd Protocol Governance Updates: Multiple PIPs for Protocol Wind Down

🏃 JPEG'd Last Call

By JPEG'd
Dec 30, 2024, 5:33 PM
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Several important governance proposals are currently active in the JPEG'd protocol:

  • PIP 98: Voting ongoing for interest rate increases on all JPEG vaults and reduction of debt ceilings to zero

  • PIP 97: Proposes final JPEG to JPGD migration window with fixed end date Voting ends: Dec 20, 2024 5:43 PM

  • PIP 96: Aims to wind down pUSD/pETH lending operations and uncustody treasury Voting ended: Dec 18, 2024 1:58 AM

These proposals collectively signal significant changes to the protocol's operations.​ Community members should review full proposal texts and participate in voting.​

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Read more about JPEG'd

JPEG'd Protocol Shutdown Notice - Urgent Action Required

**JPEG'd protocol is winding down operations** with immediate effect. Key actions required: - All active loans must be repaid and closed immediately - Borrow rates will continue to increase - Funds should be withdrawn from citadel autocompounder - JPGD holders must stake tokens by February 14th to receive treasury share Visit [JPEG'd platform](https://jpegd.io/peth) to manage your positions. *This is part of the protocol's planned shutdown of lending and treasury operations.*

PUNK Auction Update - 6 Hours Remaining

PUNK Auction Update - 6 Hours Remaining

A PUNK NFT auction is currently live on JPEG'd protocol with 6 hours remaining in the bidding period. The auction is taking place at [jpegd.io/auction/119](https://jpegd.io/auction/119). This represents a key opportunity for participants to acquire a PUNK through JPEG'd's decentralized lending protocol. - Current status: Active auction - Time remaining: 6 hours - Platform: JPEG'd protocol - Auction ID: 119

JPEG'd Protocol Implements 400% Interest Rate Increase

JPEG'd protocol has executed a significant interest rate adjustment as part of PIP 98: - Interest rates across **all JPEG vaults** increased to **400%** - Change effective as of February 25th, 2025 - Follows previous increase to 180% on January 30th - Protocol strongly urges immediate loan repayment This represents the latest step in JPEG'd's effort to encourage loan repayment and manage protocol risk. Users with outstanding loans should take immediate action to avoid increased costs.

JPEG'd DAO Important Timeline Updates

**Key Dates for JPEG'd DAO Wind Down:** - **February 8, 2025**: All DAO-owned liquidity will be removed - **February 14, 2025**: Final snapshot date for treasury disbursement **Critical Actions Required:** - JPGD tokens *must* be staked by Feb 14 to receive treasury assets - Staking available at jpegd.io/claim The DAO is concluding lending operations and preparing for treasury distribution to stakeholders. All holders should take immediate action to ensure participation in the final disbursement. **Reference**: PIP-101 and PIP-100 provide full details on the wind-down process.

Two New PIPs Live for Voting on JPEG'd DAO Liquidity and Staking

Two significant governance proposals are currently up for vote in the JPEG'd DAO, expiring January 19th, 7:15AM EST: - **PIP-101**: Proposes establishing a timeframe for removing all DAO-owned liquidity - **PIP-102**: Addresses JPGD holdings in the DAO, proposing they should not be staked for treasury assets These proposals follow the recent PIP-100, which set the snapshot date for the treasury uncustody process. *Community members should review and cast their votes before the deadline.*

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