Instadapp

Summary:

This proposal updates the reward reserve contracts and approves rewards for fUSDC and fUSDT. This proposal also deprecates the v1 Fluid Vaults.

Code Changes:

Update Reserve Contract Allowance:

• Approve Reward Allowance for fUSDC & fUSDT

  • fUSDC:
    • Protocol: 0x9Fb7b4477576Fe5B32be4C1843aFB1e55F251B33
    • Token: 0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
    • Amount: 320_000 USDC
  • fUSDT:
    • Protocol: 0x5C20B550819128074FD538Edf79791733ccEdd18
    • Token: 0xdAC17F958D2ee523a2206206994597C13D831ec7
    • Amount: 320_000 USDT
  • fwstETH:
    • Protocol: 0x2411802D8BEA09be0aF8fD8D08314a63e706b29C
    • Token: 0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0
    • Amount: 0.03 wstETH

• Revoke Allowance for old v1 Vaults:

  • ETH/USDC: 0x5eA9A2B42Bc9aC8CAC76E19F0Fcd5C1b06950807
  • ETH/USDT: 0xE53794f2ed0839F24170079A9F3c5368147F6c81
  • WSTETH/ETH: 0x28680f14C4Bb86B71119BC6e90E4e6D87E6D1f51
  • WSTETH/USDC: 0x460143a489729a3cA32DeA82fa48ea61175accbc
  • WSTETH/USDT: 0x2B251211f5Ff0A753A8d5B9411d736875174f375

• Approve Dust Allowance for v1a Vaults:

  • weETH/wstETH: 0x40D9b8417E6E1DcD358f04E3328bCEd061018A82
  • sUSDe/USDC: 0x4045720a33193b4Fe66c94DFbc8D37B0b4D9B469
  • sUSDe/USDT: 0xBFADEA65591235f38809076e14803Ac84AcF3F97
  • weETH/USDC: 0xf55B8e9F0c51Ace009f4b41d03321675d4C643b3
  • weETH/USDT: 0xdF16AdaF80584b2723F3BA1Eb7a601338Ba18c4e

Deprecating v1 Fluid Vaults

• Update ETH/USDC v1 Vault:

  • Address: 0x5eA9A2B42Bc9aC8CAC76E19F0Fcd5C1b06950807
  • Update User Supply Configs:
    • Base Withdrawal Limit: 10 ETH
    • Withdraw Expand Percent: 0
    • Expand Duration: 1
  • Update User Borrow Configs:
    • Base Borrow Limit: 10 wei USDC
    • Max Hard Cap Limit: 100 wei USDC
    • Borrow Expand Percent: 0
    • Expand Duration: 1

• Update ETH/USDT v1 Vault:

  • Address: 0xE53794f2ed0839F24170079A9F3c5368147F6c81
  • Update User Supply Configs:
    • Base Withdrawal Limit: 10 ETH
    • Withdraw Expand Percent: 0
    • Expand Duration: 1
  • Update User Borrow Configs:
    • Base Borrow Limit: 10 wei USDC
    • Max Hard Cap Limit: 100 wei USDC
    • Borrow Expand Percent: 0
    • Expand Duration: 1

• Update WSTETH/ETH v1 Vault:

  • Address: 0x28680f14C4Bb86B71119BC6e90E4e6D87E6D1f51
  • Update User Supply Configs:
    • Base Withdrawal Limit: 2 WSTETH
    • Withdraw Expand Percent: 0
    • Expand Duration: 1
  • Update User Borrow Configs:
    • Base Borrow Limit: 10 wei USDC
    • Max Hard Cap Limit: 100 wei USDC
    • Borrow Expand Percent: 0
    • Expand Duration: 1

• Update WSTETH/USDC v1 Vault:

  • Address: 0x460143a489729a3cA32DeA82fa48ea61175accbc
  • Update User Supply Configs:
    • Base Withdrawal Limit: 2 WSTETH
    • Withdraw Expand Percent: 0
    • Expand Duration: 1
  • Update User Borrow Configs:
    • Base Borrow Limit: 10 wei USDC
    • Max Hard Cap Limit: 100 wei USDC
    • Borrow Expand Percent: 0
    • Expand Duration: 1

• Update WSTETH/USDT v1 Vault:

  • Address: 0x2B251211f5Ff0A753A8d5B9411d736875174f375
  • Update User Supply Configs:
    • Base Withdrawal Limit: 2 WSTETH
    • Withdraw Expand Percent: 0
    • Expand Duration: 1
  • Update User Borrow Configs:
    • Base Borrow Limit: 10 wei USDC
    • Max Hard Cap Limit: 100 wei USDC
    • Borrow Expand Percent: 0
    • Expand Duration: 1

Description:

The proposed changes will enable the distribution of rewards on the fUSDC and fUSDT contracts, as approved in Proposal 23. This proposal also deprecates the v1 Fluid Vaults (v1 Vaults were deployed at the launch of Fluid; current users are utilizing Fluid Vaults v1a). This proposal will transfer any remaining dust amounts from v1 into the new reserved contract.

Conclusion:

The update of the Reward Allowance contract for USDC and USDT lending markets is designed to ensure continued market stability and attractiveness. Similarly, deprecating the v1 Vault and addressing any remaining dust amounts will facilitate efficient liquidity provision.