Instadapp

Summary:

This proposal extends the current USDC and USDT market rewards by an additional month and updates the market rates for USDC, USDT, wstETH, and the ETH Reserve Factor on the Fluid platform.

Code Changes: Extend Rewards for USDC and USDT Markets:

• fUSDC: Additional 250k USDC for 30 days
  • Updates to fUSDC reward contract:
    • Contract Address: 0xf6109Ad48f5Cf9e28938774aD4069C90f81D648E
• fUSDT: Additional 250k USDT for 30 days
  • Updates to fUSDT reward contract:
    • Contract Address: 0xf6109Ad48f5Cf9e28938774aD4069C90f81D648E

Update Market Rate Curves:

• USDC Market Rate Curve Adjustments:

  • Current Rates:
    • Utilization 0%: Rate 0%
    • Utilization 80%: Rate 12%
    • Utilization 93%: Rate 18%
    • Utilization 100%: Rate 33.33%
  • Proposed Rate Curve Adjustment:
    • Utilization 0%: Rate 0%
    • Utilization 80%: Rate 10%
    • Utilization 93%: Rate 15%
    • Utilization 100%: Rate 25%

• USDT Market Rate Curve Adjustments:

  • Current Rates:
    • Utilization 0%: Rate 0%
    • Utilization 80%: Rate 12%
    • Utilization 93%: Rate 18%
    • Utilization 100%: Rate 33.33%
  • Proposed Rate Curve Adjustment:
    • Utilization 0%: Rate 0%
    • Utilization 80%: Rate 10%
    • Utilization 93%: Rate 15%
    • Utilization 100%: Rate 25%

• wstETH Market Rate Curve Adjustments:

  • Current Rates:
    • Utilization 0%: Rate 0%
    • Utilization 50%: Rate 17%
    • Utilization 90%: Rate 14%
    • Utilization 100%: Rate 100%
  • Proposed Rate Curve Adjustment:
    • Utilization 0%: Rate 0%
    • Utilization 50%: Rate 15%
    • Utilization 93%: Rate 12%
    • Utilization 100%: Rate 100%
  • Max Borrow Limit: 88% of totalSupply

• ETH Liquidity Layer:

  • Update Reserve Factor: 10%

Description:

This proposal updates the Rate Curves for USDC, USDT, and wstETH, and updates the ETH Reserve Factor. The adjustments will align with current market conditions and optimize utilization within the protocol.

This proposal aims to extend the Fluid launch rewards for the USDC and USDT lending markets. The Fluid Launch rewards have proven to be effective at attracting liquidity. This proposal will extend the stablecoin rewards by one additional month, removing the INST reward while increasing the in-kind reward.

Conclusion:

This proposal updates the Rate Curves for USDC, USDT, and wstETH on the Fluid platform, updates the ETH Reserve, and extends the Rewards Program for an additional Month. These changes are designed to ensure continued market stability, competitiveness, and optimal asset utilization.

Forum Link 1: Update USDC, USDT, and wstETH Market Rates on Fluid - Jun 24, 2024

Forum Link 2: Extend USDC and USDT Rewards to July