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executedEnds a year ago · Onchain

Configure USDe Vaults and update configs of Dex Pools

Summary

This proposal seeks to expand the limits of the ETH-USDC DEX Pool, update configuration parameters for the USDC-USDT Pool, and set initial parameters for the new USDe Vaults. Additionally, it includes removing team multisig as the authorization from the ETH-USDC DEX Pool and ETH-USDC T4 Vault.

Code Changes

Increase the allowance of new DEX Pools on Liquidity Layer

DEX Pool 5
ETH<>USDC
- Expand percent: 50%
- Expand time: 1hr
- Withdrawal Base Limit in USD: $15,000,000
- Borrow Base Limit in USD: $10,000,000
- Borrow Max Limit in USD: $12,000,000

USDe Vault Configurations

Vault ID 66
USDe<>USDC:0xb98eea7132f1de6ec24d4ee4afbdf4d63ef1a9f0
- Collateral Factor (C.F.): 90%
- Liquidation Threshold (L.T.): 92%
- Max Liquidation Limit (L.M.L.): 95%
- Withdrawal Gap: 5%
- Liquidation Penalty (L.P.): 2%
- Oracle:0x8E5FA052eE010BCbAc7d00D859100B48a6A40967
- 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
Vault ID 67
USDe<>USDT:0x8fb5c0896c70b0056a09249ecef7e7ee01f037af
- Collateral Factor (C.F.): 90%
- Liquidation Threshold (L.T.): 92%
- Max Liquidation Limit (L.M.L.): 95%
- Withdrawal Gap: 5%
- Liquidation Penalty (L.P.): 2%
- Oracle:0x8E5FA052eE010BCbAc7d00D859100B48a6A40967
- 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
Vault ID 68
USDe<>GHO:0x75580d4be33c61700969583fdaec566ca84e5b69
- Collateral Factor (C.F.): 90%
- Liquidation Threshold (L.T.): 92%
- Max Liquidation Limit (L.M.L.): 95%
- Withdrawal Gap: 5%
- Liquidation Penalty (L.P.): 2%
- Oracle:0xAd3fEaE8c608681E989D393b48FaEE71e664050A
- 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
Vault ID 69
ETH<>USDe:0x2f6c2a725ea6c4304cdc92b49f637a7735362ef5
- Collateral Factor (C.F.): 85%
- Liquidation Threshold (L.T.): 90%
- Max Liquidation Limit (L.M.L.): 93%
- Withdrawal Gap: 5%
- Liquidation Penalty (L.P.): 2.5%
- Oracle:0x4A67E941Ccd89806Ba2397BA336d791759D512ca
- 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
Vault ID 70
wstETH<>USDe:0x903c5704df7bf307e27e9e3de76ea295bc1a2970
- Collateral Factor (C.F.): 82%
- Liquidation Threshold (L.T.): 88%
- Max Liquidation Limit (L.M.L.): 92.5%
- Withdrawal Gap: 5%
- Liquidation Penalty (L.P.): 3%
- Oracle:0x4908422a87111394c05751dFfaE4A64BE18B05E3
- 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
Vault ID 71
weETH<>USDe:0xc752107ae8447d85cd5c06da7089956fe85dfdab
- Collateral Factor (C.F.): 77%
- Liquidation Threshold (L.T.): 82%
- Max Liquidation Limit (L.M.L.): 90%
- Withdrawal Gap: 5%
- Liquidation Penalty (L.P.): 3%
- Oracle:0x743FB38FD621fc836F3383531Fb576e8a35059E1
- 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
Vault ID 72
WBTC<>USDe:0xd170252cbec41235795d938ca19857ca4d7824a1
- Collateral Factor (C.F.): 85%
- Liquidation Threshold (L.T.): 88%
- Max Liquidation Limit (L.M.L.): 92.5%
- Withdrawal Gap: 5%
- Liquidation Penalty (L.P.): 3%
- Oracle:0x538fec4B539ad20B55Ba2F08b58bc28bC669Adc3
- 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
Vault ID 73
cbBTC<>USDe:0x75904e18b461eb60692264d40adb0973d8f33b98
- Collateral Factor (C.F.): 85%
- Liquidation Threshold (L.T.): 88%
- Max Liquidation Limit (L.M.L.): 92.5%
- Withdrawal Gap: 5%
- Liquidation Penalty (L.P.): 3%
- Oracle:0x0e701AFc1feF3E963a42cC1Ccf81BEAE0fEbf20A
- 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

Update the configurations of USDC<>USDT DEX Pool

Shift the Minimum center price: ~0.9995
Shift the Maximum center price: ~1.0005002501251
New Threshold percent: 80%

Remove Team Multisig as the Auth

The Avocado team multisig: 0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e

Remove as DEX Auth from:
- ETH<>USDC
Remove as Vault Auth from:
- ETH-USDC/ETH-USDC

Description

This proposal focuses on expanding the limits of the ETH-USDC DEX Pool and establishing initial configurations for a series of new USDe Vaults, including USDe<>USDC, USDe<>USDT, USDe<>GHO, ETH<>USDe, wstETH<>USDe, weETH<>USDe, WBTC<>USDe, and cbBTC<>USDe. These setups are intended to optimize the vaults’ functionality at launch.

The proposal also removes the team multisig as authorization from both the ETH-USDC DEX Pool and ETH-USDC T4 Vault. This change reverts control after smoothly configuring the DEX Pool and associated vaults on the Liquidity Layer.

Further adjustments to the USDC-USDT DEX Pool include updates to minimum and maximum center prices and threshold parameters to better align with market conditions.

Conclusion

The proposed updates expand the limits of the new DEX Pool, enabling a more efficient launch of the DEX Pool and its associated vaults. Configuring the initial parameters for the USDe Vaults introduces highly rewarding USDe vaults to Fluid, enhancing user engagement and liquidity options. The adjustments to the USDC-USDT DEX Pool parameters provide better alignment with market conditions, reducing volatility within the stable pool. Together, these changes strengthen the Liquidity Layer’s capability to manage liquidity effectively and support the growth of the platform.

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Cast Vote

Votes 6

Voter	Cast Power	Vote & Rationale
0xa761...834324	1.51M	FOR
0xAa72...c44931	1.191M	FOR
0xA45f...8cea01	1M	FOR
0x0870...CF830E	271,222	FOR
0xd99a...e5fFd1	250,000	FOR

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Proposal Status

Thu November 07 2024, 05:10 pmPublished Onchain 0x059A...bE8210
Fri November 08 2024, 05:19 pmVoting Period Starts
Sun November 10 2024, 05:29 pmEnd Voting Period
Mon November 11 2024, 05:57 amQueue Proposal
Fri November 15 2024, 03:25 amExecute Proposal

Current Results

1-FOR

4.422M

2-AGAINST

N/A Tokens

3-ABSTAIN

N/A Tokens

Quorum 4.422M/4M

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