Instadapp

Summary

This proposal will deploy the GHO vaults to the liquidity layer on ethereum mainnet. The proposal sets the configurations for the seven GHO vaults at launch.

Code Changes

Vault Deployments:

ETH/GHO Vault: 0xd9a7dcdc57c6e44f00740dc73664fa456b983669

• Collateral Factor (C.F.): 85%
• Liquidation Threshold (L.T.): 90%
• Max Liquidation Limit (L.M.L.): 93%
• Liquidation Penalty (L.P.): 2.5%
• Vault Type: TYPE 1
• Supply Configuration:
  • Supply Mode: 1
  • Supply Expand Percent: 25%
  • Supply Expand Duration: 12 hours
  • Base Withdrawal Limit in USD: $7.5M
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: $7.5M
    • Borrow Max Limit in USD: $20M

wstETH/GHO Vault: 0xB0F2B58af3F17F1A3377c37F6E85eA41c369D1C7

• Collateral Factor (C.F.): 82%
• Liquidation Threshold (L.T.): 88%
• Max Liquidation Limit (L.M.L.): 92.5%
• Liquidation Penalty (L.P.): 3%
• Vault Type: TYPE 1
• Supply Configuration:
  • Supply Mode: 1
  • Supply Expand Percent: 25%
  • Supply Expand Duration: 12 hours
  • Base Withdrawal Limit in USD: $7.5M
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: $7.5M
    • Borrow Max Limit in USD: $20M

sUSDe/GHO Vault: 0x2F3780e21cAba1bEdFB24E37C97917def304dFFA

• Collateral Factor (C.F.): 88%
• Liquidation Threshold (L.T.): 90%
• Max Liquidation Limit (L.M.L.): 95%
• Liquidation Penalty (L.P.): 2%
• Vault Type: TYPE 1
• Supply Configuration:
  • Supply Mode: 1
  • Supply Expand Percent: 25%
  • Supply Expand Duration: 12 hours
  • Base Withdrawal Limit in USD: $7.5M
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: $7.5M
    • Borrow Max Limit in USD: $20M

weETH/GHO Vault: 0xd4B34f90930645EAf53E05Edd2950f93ee0D5Eb7

• Collateral Factor (C.F.): 77%
• Liquidation Threshold (L.T.): 82%
• Max Liquidation Limit (L.M.L.): 90%
• Liquidation Penalty (L.P.): 3%
• Vault Type: TYPE 1
• Supply Configuration:
  • Supply Mode: 1
  • Supply Expand Percent: 25%
  • Supply Expand Duration: 12 hours
  • Base Withdrawal Limit in USD: $7.5M
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: $7.5M
    • Borrow Max Limit in USD: $20M

sUSDS/GHO Vault: 0x7ED2cbD4C98a6E151d2a48792c1E45E4f0CD57D1

• Collateral Factor (C.F.): 90%
• Liquidation Threshold (L.T.): 92%
• Max Liquidation Limit (L.M.L.): 95%
• Liquidation Penalty (L.P.): 2%
• Vault Type: TYPE 1
• Supply Configuration:
  • Supply Mode: 1
  • Supply Expand Percent: 25%
  • Supply Expand Duration: 12 hours
  • Base Withdrawal Limit in USD: $7.5M
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: $7.5M
    • Borrow Max Limit in USD: $20M

WBTC/GHO Vault: 0xe58Ed61ff0C9db46c8772FF7286B6B187D4fe68f

• Collateral Factor (C.F.): 85%
• Liquidation Threshold (L.T.): 88%
• Max Liquidation Limit (L.M.L.): 92.5%
• Liquidation Penalty (L.P.): 3%
• Vault Type: TYPE 1
• Supply Configuration:
  • Supply Mode: 1
  • Supply Expand Percent: 25%
  • Supply Expand Duration: 12 hours
  • Base Withdrawal Limit in USD: $7.5M
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: $7.5M
    • Borrow Max Limit in USD: $20M

cbBTC/GHO Vault: 0x81A0dD6c5DDB8474b483c31309b66d7173263CbB

• Collateral Factor (C.F.): 85%
• Liquidation Threshold (L.T.): 88%
• Max Liquidation Limit (L.M.L.): 92.5%
• Liquidation Penalty (L.P.): 3%
• Vault Type: TYPE 1
• Supply Configuration:
  • Supply Mode: 1
  • Supply Expand Percent: 25%
  • Supply Expand Duration: 12 hours
  • Base Withdrawal Limit in USD: $7.5M
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: $7.5M
    • Borrow Max Limit in USD: $20M

Setting Team Multisig as Vault Auth for USDC/GHO Vault: The Avocado team multisig: 0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e will serve as the authority for vault management, responsible for setting up the initial configuration of the new vault USDC/GHO Smart Collateral and Debt Vault.

Rate Curve Adjustment on Liquidity Layer: GHO Rate Curve:

• Utilization 0%: Rate 0%
• Utilization 93%: Rate 7.5%
• Utilization 100%: Rate 25% The Rate curve for GHO is bound to stay the same as USDC on Liquidity Layer

Description

This proposal focuses on deploying setting the necessary configurations for the following the GHO vaults on the Liquidity Layer:

• Vaults:
  • ETH/GHO
  • wstETH/GHO
  • sUSDe/GHO
  • weETH/GHO
  • sUSDS/GHO
  • WBTC/GHO
  • cbBTC/GHO

The proposal makes the rate curve adjustments for GHO on the liquidity layer.

Conclusion

This proposal grabs the opportunity of integrating a growing stablecoin like GHO into Fluid which will be mutually beneficial for the stablecoin issuer and the broader lending market. Setting the configurations of the initial GHO vaults on liquidity layer facilitates successful introduction of GHO to Fluid.

Forum Link: Launch GHO Market on Ethereum