Instadapp

Summary

This proposal introduces the integration of Ether.fi ETH (weETH) into the Fluid ecosystem, focusing on initializing weETH on the liquidity layer, revising the wstETH rate curve, and deploying a new weETH/wstETH vault.

Code Changes

• Set Market Rates for weETH on Liquidity:
  • Utilization 0%: Rate 0%
  • Utilization 50%: Rate 20%
  • Utilization 80%: Rate 40%
  • Utilization 100%: Rate 100%
• Set Token Config for weETH on Liquidity:
  • Threshold: 0.3%
  • Fee: 10%
• Deploy weETH/wstETH Vault:
  • Address: 0x40d9b8417e6e1dcd358f04e3328bced061018a82
• Set User Supply Config for the weETH/wstETH Vault on Liquidity Layer:
  • VaultAddress: 0x40d9b8417e6e1dcd358f04e3328bced061018a82
  • Token: weETH_ADDRESS
  • Mode: 1
  • Expand Percent: 25%
  • Expand Duration: 12 hours
  • Base Withdrawal Limit: 4000 weETH
• Set User Borrow Config for the weETH/wstETH Vault on Liquidity Layer:
  • VaultAddress: 0x40d9b8417e6e1dcd358f04e3328bced061018a82
  • Token: wstETH_ADDRESS
  • Mode: 1
  • Expand Percent: 25%
  • Expand Duration: 12 hours
  • Base Debt Ceiling: 4000 wstETH
  • Max Debt Ceiling: 10000 wstETH
• Update Core Settings on weETH/wstETH Vault:
  • Supply Rate Magnifier: 1x
  • Borrow Rate Magnifier: 1x
  • Collateral Factor: 90.5%
  • Liquidation Threshold: 93%
  • Liquidation Max Limit: 95%
  • Withdraw Gap: 5%
  • Liquidation Penalty: 1%
  • Borrow Fee: 0%
• Update Oracle on weETH/wstETH Vault:
  • Oracle Address: 0x9eC721a12b6005aF8c6E8CFa9c86B5f12ff473E4
• Update Rebalancer on weETH/wstETH Vault:
  • Rebalancer Address: 0x264786EF916af64a1DB19F513F24a3681734ce92
• Update Supply Magnifier on wstETH/ETH, wstETH/USDC & wstETH/USDT Vaults to 1x:
  • 0xA0F83Fc5885cEBc0420ce7C7b139Adc80c4F4D91 (wstETH/ETH)
  • 0x51197586F6A9e2571868b6ffaef308f3bdfEd3aE (wstETH/USDC)
  • 0x1c2bB46f36561bc4F05A94BD50916496aa501078 (wstETH/USDT)
• Update Market Rates for wstETH on Liquidity:
  • Utilization 0%: Rate 0%
  • Utilization 50%: Rate 15%
  • Utilization 80%: Rate 30%
  • Utilization 100%: Rate 150%
• Update Token Config for wstETH on Liquidity:
  • Threshold: 0.3%
  • Fee: 70%

Description:

This proposal addresses the increasing interest in LRT-based assets like Ether.fi weETH within the Fluid ecosystem. By integrating weETH and updating wstETH parameters, significant advantages are anticipated for the Fluid community. These changes aim to enhance the utilization of wstETH, boosting its overall effectiveness and introducing innovative strategies for Eigenlayer participants on Fluid.

Forum Link: Launch weETH/wstETH vault