Instadapp

Summary

Setting up first DEX pool of wstETH <> ETH protocol with tight withdraw & borrow limits of $100k-200k from Liquidity Layer. This will allow the team to start the integration with DEX aggregators prior to the DEX launch. On this first pool, depositing & borrowing will be restricted to the team, and swapping will be open for everyone.

Code Changes

• DEX wstETH<>ETH Address: 0x6d83f60eEac0e50A1250760151E81Db2a278e03a

• Supply Configuration Updates:

  • wstETH

    • User: 0x6d83f60eEac0e50A1250760151E81Db2a278e03a
    • Class: 0 (Guardian enabled)
    • Mode: 1 (with interest)
    • Expand Percent: 25%
    • Expand Duration: 2 hours
    • Base Withdrawal Limit: $50,000 worth of wstETH based on exchange price

  • ETH

    • User: 0x6d83f60eEac0e50A1250760151E81Db2a278e03a
    • Class: 0 (Guardian enabled)
    • Mode: 1 (with interest)
    • Expand Percent: 25%
    • Expand Duration: 2 hours
    • Base Withdrawal Limit: $50,000 worth of ETH based on exchange price

• Borrow Configuration Updates:

  • wstETH

    • User: 0x6d83f60eEac0e50A1250760151E81Db2a278e03a
    • Class: 0 (Guardian enabled)
    • Mode: 1 (with interest)
    • Expand Percent: 20%
    • Expand Duration: 2 hours
    • Base Debt Ceiling: $50,000 worth of wstETH based on exchange price
    • Max Debt Ceiling: $100,000 worth of wstETH based on exchange price

  • ETH

    • User: 0x6d83f60eEac0e50A1250760151E81Db2a278e03a
    • Class: 0 (Guardian enabled)
    • Mode: 1 (with interest)
    • Expand Percent: 20%
    • Expand Duration: 2 hours
    • Base Debt Ceiling: $50,000 worth of ETH based on exchange price
    • Max Debt Ceiling: $100,000 worth of ETH based on exchange price

Note: Dex Pool has not been deployed to this address yet, it will be deployed by the team within a week. This address is calculated from Dex Factory Address: 0x93DD426446B5370F094a1e31f19991AAA6Ac0bE0

Description

The proposal seeks to update the supply and borrow configuration on Fluid’s liquidity layer for wstETH and ETH, critical for the successful setup of the wstETH<>ETH DEX Pool on the Liquidity Layer for the upcoming DEX protocol. The parameters include setting the expansion duration, percentage, and automated limits for supply and borrow operations on ETH and wstETH.

Conclusion

This proposal will enable a seamless setup for DEX protocol and smooth integration with DEX aggregators by adjusting the parameters for wstETH and ETH on the protocol’s liquidity layer essentially by giving allowance for the introductory wstETH<>ETH DEX pool. Approval of this proposal will facilitate prompt and efficient implementation of DEX.

Forum Link: Configure wstETH<>ETH DEX pool on Fluid