Just wanted to say a huge thank You for the detailed post - the rBTC redemption buffer owned by stakers is genuinely one of the most elegant ideas I’ve seen for Zero in a long time (at least since @one_digit post about Resurecting Zero). Tether-style minimums are also interesting option to consider. Really appreciate You writing it up properly here.
Quick update with today’s numbers so we’re all on the same page:
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ZUSD supply: ~3.22 M
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Collateral: ~348 rBTC → TCR ≈ 1,000 %
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Current redemption fee: already 2.72 % (and it climbs quickly with every new redemption because of the dynamic baseRate)
Those numbers come from this analytics page.
As You see redemption fees are already very high. These redemptions are no longer small arbitrage plays, but deliberate moves that are fine paying 2–3 % to force-out rBTC at oracle price.
That makes me think Your two proposals are still very intersting, but we might get the fastest relief by pairing them with a tiny extra layer that removes the fear for borrowers right now - for example a simple 24-hour redemption delay (still lets people exit, but stops instant attacks and panic cascades).
Once borrowing psychology flips and supply starts growing again, Your buffer + minimum-size ideas could become the perfect second line of defence.
Thanks again for sparking this - this is exactly the discussion we needed.