Instadapp

Summary:
This proposal includes several updates to the Fluid protocol, including adjustments to the WBTC Vault configurations, removal of outdated reward settings, and updates the liquidity layer token listing and revenue collection enabling the team to initiate these functions. Additionally, the proposal includes the movement of funds from the Instadapp Treasury to prepare for upcoming USDC and USDT rewards.

Code Changes:

WBTC Vault Configuration Updates:

WBTC/USDC Vault:

• Current Settings:
  • Collateral Factor (C.F.): 80%
  • Liquidation Threshold (L.T.): 85%
  • Liquidation Max Limit (L.M.L.): 90%
• Proposed Settings:
  • Collateral Factor (C.F.): 85%
  • Liquidation Threshold (L.T.): 88%
  • Liquidation Max Limit (L.M.L.): 92.5%

WBTC/USDT Vault:

• Current Settings:
  • Collateral Factor (C.F.): 80%
  • Liquidation Threshold (L.T.): 85%
  • Liquidation Max Limit (L.M.L.): 90%
• Proposed Settings:
  • Collateral Factor (C.F.): 85%
  • Liquidation Threshold (L.T.): 88%
  • Liquidation Max Limit (L.M.L.): 92.5%

WBTC/ETH Vault:

• Current Settings:
  • Collateral Factor (C.F.): 90%
  • Liquidation Threshold (L.T.): 91%
  • Liquidation Max Limit (L.M.L.): 93%
• Proposed Settings:
  • Collateral Factor (C.F.): 90%
  • Liquidation Threshold (L.T.): 93%
  • Liquidation Max Limit (L.M.L.): 95%

Remove Outdated WBTC Rewards:

• Set Vault Authorization for Vault Reward Handlers to False:
  • Current Contract Address: 0xF561347c306E3Ccf213b73Ce2353D6ed79f92408
  • Action: Set to false
• Set USDT Rewards Contract to False:
  • Current Contract Address: 0x36C677a6AbDa7D6409fB74d1136A65aF1415F539
  • Action: Set to false

Set ListTokenAuth:

• Contract Address: 0xb2875c793CE2277dE813953D7306506E87842b76
• Purpose: This enables the team to list a token on the liquidity layer.

Set Collect RevenueAuth:

• Contract Address: 0x7f14c42F84cb940F2619DD2698EDdB1C3fFC514E
• Purpose: This enables the team to trigger revenue collection on the liquidity layer.

Updates to sUSDe Vaults:

• Remove Rate Handlers for sUSD Vaults:
  • SUSDE_USDC v1: 0x36639DAd77eC858574aaF07a68bBa62b7db19FfA
  • SUSDE/USDT v1: 0xafE3974f4916140a093F1de7Fc064A3Da220DD41
  • SUSDE/USDC v1.1: 0xa7C805988f04f0e841504761E5aa8387600e430b
  • SUSDE/USDT v1.1: 0x7607968F40d7Ac4Ef39E809F29fADDe34C00A0A6
• Update all Rate Magnifiers to: 1x

Update Lending Rewards Contract:

• Current Reward Contract: 0xD8CA3D94f2EF112e5232a3805dc17dc79D390603
• New USDC Rewards Contract: 0x99c1515fa3327B048FCB46483ac0fceB0ED8d471

Description:
This proposal integrates several updates and configurations for the Fluid Protocol. This proposal setting new configurations for the WBTC vaults to optimize asset utilization and security, removing outdated reward settings, and enabling the Fluid team to list tokens and trigger revenue collection on the liquidity layer.

Additionally, the proposal includes preparing for upcoming USDC and USDT rewards by transferring 300 stETH (~$800k) from the Instadapp Treasury to the team multisig: 0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e Any and all unused funds will be returned to the DAO Treasury.

Conclusion:
This proposal ensures that the Fluid protocol remains competitive, secure, and efficient by updating vault configurations, and enabling necessary functions within the liquidity layer to increase efficiency and execution speed. This proposal also transfers funds from the Treasury to prepare USDC and USDT rewards.