Instadapp

Summary

This proposal introduces several protocol upgrades and operational improvements: (1) launches new USDe-USDTb and GHO-USDe T2 vaults with defined borrow limits and removes team multisig authorization from their associated DEXes, (2) removes team multisig authorization from csUSDL-USDC DEX and sets the rebalancer for its smart lending contract, (3) collects ETH and wstETH revenue from the reserve and converts all to stETH to eventually send it to Lite Vault, (4) increases the supply cap for the wstUSR-USDC DEX, (5) updates global maintenance authorizations for DEX fee, rates, range, and vault & DEX limits modules by removing old and adding new authorized addresses, and (6) adds DEX fee handler to USDe-USDT DEX. These changes aim to expand protocol capabilities, streamline administration, optimize asset management, and enhance protocol security and maintainability.

Code Changes

Action 1: Set Launch Limits for USDe-USDTb / GHO T2 Vault and Remove Team Multisig Auth from DEX

• Vault ID 140
  USDe-USDTb / GHO T2 Vault:
  • Base Borrow Limit: $5M
  • Max Borrow Limit: $20M
  • Team Multisig Auth: Removed
• DEX Pool 36
  USDe-USDTb DEX:
  • Team Multisig Auth: Removed

Action 2: Set Launch Limits for GHO-USDe / GHO T2 Vault and Remove Team Multisig Auth from DEX

• Vault ID 141
  GHO-USDe / GHO T2 Vault:
  • Base Borrow Limit: $5M
  • Max Borrow Limit: $10M
  • Team Multisig Auth: Removed
• DEX Pool 37
  GHO-USDe DEX:
  • Team Multisig Auth: Removed

Action 3: Remove Team Multisig Auth from csUSDL-USDC DEX and Set Rebalancer

• DEX Pool 38
  csUSDL-USDC DEX:
  • Team Multisig Auth: Removed
• Smart Lending Contract (fSL38)
  csUSDL-USDC:
  • Rebalancer: Set to reserve contract proxy

Action 4: Collect ETH, wstETH, and stETH Revenue; Stake/Unwrap to stETH; Deposit to Lite Vault

• Reserve Contract:
  • Collects protocol revenue in ETH and wstETH.
  • Withdraws all ETH and wstETH (leaving dust of each behind), and all stETH, to the Treasury.
• Treasury:
  • Stakes received ETH to stETH via Lido.
  • Unwraps received wstETH to stETH.
  • Deposits all stETH into the Lite Vault in a single operation using a cast spell.

Action 5: Update wstUSR-USDC Supply Cap

• DEX Pool 27
  wstUSR-USDC DEX:
  • Max Supply Shares: 10M (equivalent to $20M)

Action 6: Update Maintenance Auths with Team Multisig

• Global Auth Updates:
  • Remove old and add new global authorizations for DEX fee, rates, range, and vault & DEX limits modules.

Action 7: Add USDe-USDT Dex Fee Auth

• DEX Pool 18
  USDe-USDT DEX:
  • DEX Fee Auth: 0x855BaEf2EEBf4238e6e509c85a5277a3c5A38f9D

Description

This proposal implements several key changes to expand protocol capabilities, streamline administration, and optimize asset management. The changes include:

1. Launch USDe-USDTb & GHO-USDe T2 Vaults

   • Deploy new T2 vaults for USDe-USDTb (Vault ID 140) and GHO-USDe (Vault ID 141) with defined base and max borrow limits.
   • Remove team multisig authorization from both vaults and their associated DEXes (Pools 36 and 37).

2. Remove Team Multisig Auth from csUSDL-USDC DEX & Set Rebalancer

   • Remove team multisig authorization from csUSDL-USDC DEX (Pool 38).
   • Set the rebalancer for the csUSDL-USDC smart lending contract (fSL38) to the reserve contract proxy for improved liquidity management.

3. Collect and Process ETH & wstETH Revenue

   • Collect protocol revenue in ETH and wstETH via the reserve contract.
   • Withdraw all ETH and wstETH (leaving dust behind), and all stETH, to the Treasury.
   • Treasury stakes received ETH to stETH via Lido, unwraps wstETH to stETH, and deposits all stETH into the Lite Vault in a single operation.

4. Increase wstUSR-USDC DEX Supply Cap

   • Raise the max supply shares for the wstUSR-USDC DEX (Pool 27) to 10M (equivalent to $20M) to support greater liquidity and market depth.

5. Update Maintenance Auths with Team Multisig

   • Remove global authorizations and add new ones for DEX fee, rates, range, and vault & DEX limits modules, to ensure proper protocol administration and security.

6. Add DEX Fee Handler

   • Add a DEX Fee Auth to USDe-USDT DEX (Pool 18) in order to apply dynamic fees to the DEX

Conclusion

These updates widen the offerings by launching new vaults, removing redundant multisig authorizations, optimizing DEX and vault parameters, and updating protocol maintenance authorizations. Revenue collection and deployment improve capital efficiency and help to be utilized in Lite, while higher supply caps and standardized launch limits support sustainable growth and consistent risk controls. Together, these changes enhance protocol security, operational flexibility, and scalability overall.