Instadapp

Summary

This proposal introduces several protocol updates: (1) withdrawal of 500,000 FLUID tokens to the Team Multisig for USDC-ETH, (2) setting launch and borrow limits for USDE-USDTb DEX (Pool 36) and its associated vaults (IDs 137, 138), (3) pausing borrow limits and removing Team Multisig authorization for the USDE-USDTb<>USDTb vault (ID 136), (4) establishing launch and borrow limits for wstUSR-USDC DEX (Pool 27) and its vaults (IDs 133, 134, 135), (5) updating risk parameters for Gold Vaults, and (6) adjusting borrow caps for various DEXes, including GHO-USDC and USDC-USDT pools. These changes are designed to optimize liquidity, strengthen risk controls, and enhance efficiency across key trading pairs.

Code Changes

Withdraw FLUID for USDC-ETH Users

• Transfer 500,000 FLUID tokens (0.5% of supply) to Team Multisig (0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e)

Set Launch Limits for USDTb DEX and Vaults

• DEX Pool 36
  USDE<>USDTb (Smart Collateral):

  • Base Withdrawal Limit: $9M

• Vault ID 137
  USDE-USDTb<>USDT (TYPE 2):

  • Borrow Configuration:
    • Base Borrow Limit in USD: $5M
    • Max Borrow Limit in USD: $20M

• Vault ID 138
  USDE-USDTb<>USDC (TYPE 2):

  • Borrow Configuration:
    • Base Borrow Limit in USD: $5M
    • Max Borrow Limit in USD: $20M

Pause USDe-USDT/USDTb Vault

• Vault ID 136
  USDE-USDTb<>USDTb:
  • Pause borrow limits
  • Remove Team Multisig as auth

Set Launch Limits for wstUSR-USDC DEX and Vaults

• DEX Pool 27
  wstUSR<>USDC (Smart Collateral):

  • Base Withdrawal Limit: $5M

• Vault ID 133
  wstUSR-USDC<>USDC (TYPE 2):

  • Borrow Configuration:
    • Base Borrow Limit in USD: $5M
    • Max Borrow Limit in USD: $20M

• Vault ID 134
  wstUSR-USDC<>USDC-USDT (TYPE 4):

  • Borrow Configuration:
    • Base Debt Ceiling: 2.5M shares ($5M)
    • Max Debt Ceiling: 10M shares ($20M)

• Vault ID 135
  wstUSR-USDC<>USDC-USDT Concentrated (TYPE 4):

  • Borrow Configuration:
    • Base Debt Ceiling: 2.5M shares ($5M)
    • Max Debt Ceiling: 10M shares ($20M)

Update Gold DEX and Vaults Parameters

• DEX Pool 32
  PAXG<>XAUT (Smart Collateral):

  • Base Withdrawal Limit: $5M

• Vault ID 116
  XAUT<>USDC (TYPE 1):

  • Base Withdrawal Limit: $5M
  • Base Borrow Limit: $5M
  • Max Borrow Limit: $10M
  • Liquidation Max Limit: 90%
  • Liquidation Penalty: 3%

• Vault ID 117
  XAUT<>USDT (TYPE 1):

  • Base Withdrawal Limit: $5M
  • Base Borrow Limit: $5M
  • Max Borrow Limit: $10M
  • Liquidation Max Limit: 90%
  • Liquidation Penalty: 3%

• Vault ID 118
  XAUT<>GHO (TYPE 1):

  • Base Withdrawal Limit: $5M
  • Base Borrow Limit: $5M
  • Max Borrow Limit: $10M
  • Liquidation Max Limit: 90%
  • Liquidation Penalty: 3%

• Vault ID 119
  PAXG<>USDC (TYPE 1):

  • Base Withdrawal Limit: $5M
  • Base Borrow Limit: $5M
  • Max Borrow Limit: $10M
  • Liquidation Max Limit: 90%
  • Liquidation Penalty: 3%

• Vault ID 120
  PAXG<>USDT (TYPE 1):

  • Base Withdrawal Limit: $5M
  • Base Borrow Limit: $5M
  • Max Borrow Limit: $10M
  • Liquidation Max Limit: 90%
  • Liquidation Penalty: 3%

• Vault ID 121
  PAXG<>GHO (TYPE 1):

  • Base Withdrawal Limit: $5M
  • Base Borrow Limit: $5M
  • Max Borrow Limit: $10M
  • Liquidation Max Limit: 90%
  • Liquidation Penalty: 3%

• Vault ID 122
  PAXG-XAUT<>USDC (TYPE 2):

  • Base Borrow Limit: $5M
  • Max Borrow Limit: $10M
  • Liquidation Max Limit: 90%
  • Liquidation Threshold: 80%
  • Collateral Factor: 75%
  • Liquidation Penalty: 3%

• Vault ID 123
  PAXG-XAUT<>USDT (TYPE 2):

  • Base Borrow Limit: $5M
  • Max Borrow Limit: $10M
  • Liquidation Max Limit: 90%
  • Liquidation Threshold: 80%
  • Collateral Factor: 75%
  • Liquidation Penalty: 3%

• Vault ID 124
  PAXG-XAUT<>GHO (TYPE 2):

  • Base Borrow Limit: $5M
  • Max Borrow Limit: $10M
  • Liquidation Max Limit: 90%
  • Liquidation Threshold: 80%
  • Collateral Factor: 75%
  • Liquidation Penalty: 3%

Update Limits for GHO-USDe DEX and its T4 Vault

• DEX Pool 37
  GHO<>USDe (Smart Collateral):

  • Base Withdrawal Limit: $10M

• Vault ID 139
  GHO-USDe<>GHO-USDC:

  • Borrow Configuration:
    • Base Debt Ceiling: 5M shares ($10M)
    • Max Debt Ceiling: 10M shares ($20M)

Set Dust Limits for USDE-USDTb GHO T2 Vault

• Vault ID 140
  USDE-USDTb<>GHO (TYPE 2):
  • Base Borrow Limit: $7,000
  • Max Borrow Limit: $10,000
  • Set Team Multisig as auth

Set Dust Limits for GHO-USDe GHO T2 Vault

• Vault ID 141
  GHO-USDe<>GHO (TYPE 2):
  • Base Borrow Limit: $7,000
  • Max Borrow Limit: $10,000
  • Set Team Multisig as auth

Set Launch Limits for csUSDL/USDC DEX

• DEX Pool 38
  csUSDL<>USDC (Smart Collateral):
  • Base Withdrawal Limit: $9M
  • Set Team Multisig as auth

Set Global Authorization

• Set global authorization for DEX Factory to: 0xE3e18c563d11ced9B0c9cb8dD0284CF4442bC06a

Description

The proposal includes the following key actions:

1. Token Management:

   • Withdraw 500,000 FLUID tokens (0.5% of supply) for USDC-ETH users.
   • Transfer withdrawn tokens to the Team Multisig for distribution.

2. USDTb Integration:

   • Set launch limits for USDE-USDTb DEX (Pool 36) and associated vaults:
     • Vault ID 137: USDE-USDTb<>USDT (TYPE 2)
     • Vault ID 138: USDE-USDTb<>USDC (TYPE 2)
   • Configure optimal withdrawal and borrow limits for these vaults.
   • Pause the unused USDe-USDT/USDTb vault (Vault ID 136).

3. wstUSR-USDC Integration:

   • Set launch limits for DEX (Pool 27) and associated vaults:
     • Vault ID 133: wstUSR-USDC<>USDC (TYPE 2)
     • Vault ID 134: wstUSR-USDC<>USDC-USDT (TYPE 4)
     • Vault ID 135: wstUSR-USDC<>USDC-USDT Concentrated (TYPE 4)
   • Configure both concentrated and non-concentrated vault parameters, including borrow share limits and authorization.

4. Gold Smart Vaults Optimization:

   • Update liquidation and collateral parameters for the following PAXG-XAUT vaults:
     • Vault ID 122: PAXG-XAUT<>USDC
     • Vault ID 123: PAXG-XAUT<>USDT
     • Vault ID 124: PAXG-XAUT<>GHO
     • Vault ID 116: XAUT<>USDC
     • Vault ID 117: XAUT<>USDT
     • Vault ID 118: XAUT<>GHO
     • Vault ID 119: PAXG<>USDC
     • Vault ID 120: PAXG<>USDT
     • Vault ID 121: PAXG<>GHO
   • All above vaults are updated to: Liquidation Max Limit 90%, Liquidation Threshold 80%, Collateral Factor 75% and Liquidation Penalty of 3%

5. Borrow Cap and DEX Adjustments:

   • Increase borrow caps for major DEX pools:
     • DEX Pool 4: GHO<>USDC (Smart Collateral & Smart Debt)
     • DEX Pool 2: USDC<>USDT (Smart Debt)
     • DEX Pool 34: USDC<>USDT Concentrated (Smart Debt)
     • DEX Pool 32: PAXG<>XAUT (Smart Collateral)
     • DEX Pool 37: GHO<>USDe (Smart Collateral)
   • Set launch limits and authorization for:
     • DEX Pool 38: csUSDL/USDC (Smart Collateral)
   • Update borrow configuration for:
     • Vault ID 139: GHO-USDe<>GHO-USDC
   • Set dust limits and authorization for:
     • Vault ID 140: USDE-USDTb<>GHO (TYPE 2)
     • Vault ID 141: GHO-USDe<>GHO (TYPE 2)

6. Global Authorization:

   • Set global authorization for DEX Factory to: 0xE3e18c563d11ced9B0c9cb8dD0284CF4442bC06a

Conclusion

This proposal implements a comprehensive set of changes to optimize liquidity management, enhance security measures, and improve market efficiency across multiple trading pairs. The changes include strategic token withdrawals, careful launch limit configurations, and thoughtful adjustments to borrowing parameters. These modifications aim to create a more robust and efficient trading environment while maintaining appropriate risk management protocols.