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executedEnds a year ago · Onchain

Configure the Launch Limits for tBTC, sUSDS Based Vaults, deUSD<>USDC DEX, eBTC<>cbBTC, lBTC<>cbBTC, sUSDE<>USDT, USDE<>USDT DEXes and Vaults, Update ETH<>USDC DEX & Vault Limits and cbBTC<>WBTC DEX configs, Collect Revenue

Summary

This proposal establishes the launch limits for the sUSDS based vaults and the tBTC/stable vaults along with the launch limits of deUSD<>USDC DEX, eBTC-cbBTC DEX and its corresponding eBTC-cbBTC<>WBTC T2, eBTC<>wBTC T1 vaults, lBTC-cbBTC DEX and corresponding lBTC-cbBTC<>WBTC T2 vault also for the sUSDE<>USDT DEX, sUSDE-USDT/USDT T2 vault and USDe<>USDT DEX, USDe-USDT/USDT T2 vault. The proposal also updates the ETH<>USDC DEX limits, ETH-USDC T4 Vault Limits and the cbBTC<>WBTC DEX configs. Finally it also collects the revenue from the reserves of the assets on Liquidity Layer.

Code Changes

Set launch limits for sUSDS based vaults

Vault ID 84
ETH<>sUSDS:
- Vault Type: TYPE 1
- Supply Configuration:
  - Supply Mode: 1
  - Supply Expand Percent: 25%
  - Supply Expand Duration: 12 hours
  - Base Withdrawal Limit in USD: $20M
- Borrow Configuration:
  - Borrow Mode: 1
  - Borrow Expand Percent: 20%
  - Borrow Expand Duration: 12 hours
  - Borrow Base Limit in USD: $20M
  - Borrow Max Limit in USD: $100M
Vault ID 85
wstETH<>sUSDS:
- Vault Type: TYPE 1
- Supply Configuration:
  - Supply Mode: 1
  - Supply Expand Percent: 25%
  - Supply Expand Duration: 12 hours
  - Base Withdrawal Limit in USD: $20M
- Borrow Configuration:
  - Borrow Mode: 1
  - Borrow Expand Percent: 20%
  - Borrow Expand Duration: 12 hours
  - Borrow Base Limit in USD: $20M
  - Borrow Max Limit in USD: $100M
Vault ID 86
cbBTC<>sUSDS:
- Vault Type: TYPE 1
- Supply Configuration:
  - Supply Mode: 1
  - Supply Expand Percent: 25%
  - Supply Expand Duration: 12 hours
  - Base Withdrawal Limit in USD: $20M
- Borrow Configuration:
  - Borrow Mode: 1
  - Borrow Expand Percent: 20%
  - Borrow Expand Duration: 12 hours
  - Borrow Base Limit in USD: $20M
  - Borrow Max Limit in USD: $100M
Vault ID 91
weETH<>sUSDS:
- Vault Type: TYPE 1
- Supply Configuration:
  - Supply Mode: 1
  - Supply Expand Percent: 25%
  - Supply Expand Duration: 12 hours
  - Base Withdrawal Limit in USD: $20M
- Borrow Configuration:
  - Borrow Mode: 1
  - Borrow Expand Percent: 20%
  - Borrow Expand Duration: 12 hours
  - Borrow Base Limit in USD: $20M
  - Borrow Max Limit in USD: $100M

Set launch limits for tBTC/stable vaults

Vault ID 88
tBTC<>USDC:
- 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: $10M
Vault ID 89
tBTC<>USDT:
- 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: $10M
Vault ID 90
tBTC<>GHO:
- 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: $10M

Set launch limits for eBTC-cbBTC DEX and Vault

DEX Pool 16
eBTC<>cbBTC:
- Supply Configuration-
  - Supply Mode: 1
  - Supply Expand Percent: 25%
  - Supply Expand Duration: 12 hours
  - Base Withdrawal Limit in USD: $20M
Vault ID 94
eBTC<>WBTC:
- 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: $15M
Vault ID 96
eBTC-cbBTC(Smart Collateral)/WBTC Vault:
- Vault Type: TYPE 2
- 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: $15M

Set launch limits for lBTC-cbBTC DEX and Vault

DEX Pool 17
lBTC<>cbBTC:
- Supply Configuration-
  - Supply Mode: 1
  - Supply Expand Percent: 25%
  - Supply Expand Duration: 12 hours
  - Base Withdrawal Limit in USD: $20M
Vault ID 97
lBTC-cbBTC(Smart Collateral)/WBTC Vault:
- Vault Type: TYPE 2
- 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: $15M

Set launch limits for sUSDe-USDT DEX and Vault

DEX Pool 15
sUSDe<>USDT:
- Supply Configuration-
  - Supply Mode: 1
  - Supply Expand Percent: 25%
  - Supply Expand Duration: 12 hours
  - Base Withdrawal Limit in USD: $15M
Vault ID 92
sUSDe-USDT(Smart Collateral)/USDT Vault:
- Vault Type: TYPE 2
- Borrow Configuration-
  - Borrow Mode: 1
  - Borrow Expand Percent: 20%
  - Borrow Expand Duration: 12 hours
  - Borrow Base Limit in USD: $15M
  - Borrow Max Limit in USD: $30M

Set launch limits for USDe-USDT DEX and Vault

DEX Pool 18
USDe<>USDT:
- Supply Configuration-
  - Supply Mode: 1
  - Supply Expand Percent: 25%
  - Supply Expand Duration: 12 hours
  - Base Withdrawal Limit in USD: $15M
Vault ID 93
USDe-USDT(Smart Collateral)/USDT Vault:
- Vault Type: TYPE 2
- Borrow Configuration-
  - Borrow Mode: 1
  - Borrow Expand Percent: 20%
  - Borrow Expand Duration: 12 hours
  - Borrow Base Limit in USD: $15M
  - Borrow Max Limit in USD: $30M

Remove Team Multisig as Auth for the above DEXes and Vaults

The Avocado team multisig: 0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e will be removed as the auth for vault management from the following DEXes and Vaults:

(Vault ID 84) ETH/sUSDS
(Vault ID 85) wstETH/sUSDS
(Vault ID 86) cbBTC/sUSDS
(Vault ID 88) tBTC/USDC
(Vault ID 89) tBTC/USDT
(Vault ID 90) tBTC/GHO
(Vault ID 91) weETH/sUSDS
(DEX Pool 15) sUSDe<>USDT
(Vault ID 92) sUSDe-USDT/USDT
(DEX Pool 18) USDe<>USDT
(Vault ID 93) USDe-USDT/USDT
(DEX Pool 16) eBTC<>cbBTC
(Vault ID 94) eBTC/WBTC
(Vault ID 96) eBTC-cbBTC/WBTC
(DEX Pool 17) lBTC<>cbBTC
(Vault ID 97) lBTC-cbBTC/WBTC

Set launch limits for deUSD-USDC DEX and Vault

DEX Pool 19
deUSD<>USDC:
- Supply Configuration-
  - Supply Mode: 1
  - Supply Expand Percent: 25%
  - Supply Expand Duration: 12 hours
  - Base Withdrawal Limit in USD: $10M

Add Team Multisig as DEX Auth for the above

Add Avocado team multisig: 0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e as auth on the following:

(DEX Pool 19) deUSD<>USDC

Update cbBTC-WBTC DEX configs

Update Min Max center price
- Minimum center price: 0.998
- Maximum center price: ~1.002004008
Update cbBTC-WBTC range Expand the Range
- New Upper range: 0.2%
- New Lower range: 0.2%

Collect revenue from Liquidity Layer

The revenue is collected from the reserves of the following assets on liquidity layer:

ETH
wstETH
USDC
USDT
GHO
WBTC
cbBTC

Update the config of ETH<>USDC DEX and T4 Vault

DEX Pool 12
- ETH<>USDC // 2x the limits
  - Withdrawal Base Limit in USD: $30,000,000
  - Borrow Base Limit in USD: $24,000,000
  - Borrow Max Limit in USD: $60,000,000
  - Max Supply Shares: 30M shares
  - Max Borrow Shares: 20M shares
Vault ID 77
ETH-USDC(Smart Collateral)/ETH-USDC(Smart Debt):
- Vault Type: TYPE 4
- Supply Configuration:
  - Supply Mode: 1
  - Supply Expand Percent: 25%
  - Supply Expand Duration: 12 hours
  - Base Withdrawal Limit in USD: 10M shares
- Borrow Configuration:
  - Borrow Mode: 1
  - Borrow Expand Percent: 20%
  - Borrow Expand Duration: 12 hours
  - Borrow Base Limit in USD: 10M shares
  - Borrow Max Limit in USD: 20M shares

Description

This governance proposal encapsulates the following:

Vault Management:
- Set launch limits for the vaults with sUSDS debt
  - Vault ID 84 - ETH/sUSDS - TYPE 1
  - Vault ID 85 - wstETH/sUSDS - TYPE 1
  - Vault ID 86 - cbBTC/sUSDS - TYPE 1
  - Vault ID 91 - weETH/sUSDS - TYPE 1
- Set launch limits for the tBTC/stable vaults
  - Vault ID 88 - tBTC/USDC - TYPE 1
  - Vault ID 89 - tBTC/USDT - TYPE 1
  - Vault ID 90 - tBTC/GHO - TYPE 1
- Set launch limits for the eBTC vaults
  - Vault ID 94 - eBTC/WBTC - TYPE 1
  - Vault ID 96 - eBTC-cbBTC/WBTC - TYPE 2
- Set launch limits for the lBTC vault
  - Vault ID 97 - lBTC-cbBTC/WBTC - TYPE 2
- Set launch limits for sUSDe & USDe vaults
  - Vault ID 92 - sUSDe-USDT/USDT - TYPE 2
  - Vault ID 93 - USDe-USDT/USDT - TYPE 2
- Update the limits for ETH-USDC T4 Vault:
  - Double the limits of - Vault ID 77 - ETH-USDC<>ETH-USDC - TYPE 4
DEX Management:
- Set launch limits for the eBTC and lBTC DEXes
  - DEX Pool 16 - eBTC<>cbBTC
  - DEX Pool 17 - lBTC<>cbBTC
- Set launch limits for the deUSD DEX
  - DEX Pool 19 - deUSD<>USDC
- Set launch limits for sUSDe & USDe DEXes
  - DEX Pool 15 - sUSDe<>USDT
  - DEX Pool 18 - USDe<>USDT
- Update the DEX configs of cbBTC-WBTC DEX:
  - Update the Upper and Lower range of the pool to 0.2%
  - Update the Maximum and Minimumc enter price of the pool ±0.2%
- Update the limits for ETH-USDC DEX:
  - Double the limits of - DEX Pool 12 - ETH-USDC
Multisig Authorization Updates:
- Remove team multisig as auth for all the following vaults:
  - (Vault ID 84) ETH/sUSDS
  - (Vault ID 85) wstETH/sUSDS
  - (Vault ID 86) cbBTC/sUSDS
  - (Vault ID 88) tBTC/USDC
  - (Vault ID 89) tBTC/USDT
  - (Vault ID 90) tBTC/GHO
  - (Vault ID 91) weETH/sUSDS
  - (DEX Pool 15) sUSDe<>USDT
  - (Vault ID 92) sUSDe-USDT/USDT
  - (DEX Pool 18) USDe<>USDT
  - (Vault ID 93) USDe-USDT/USDT
  - (DEX Pool 16) eBTC<>cbBTC
  - (Vault ID 94) eBTC/WBTC
  - (Vault ID 96) eBTC-cbBTC/WBTC
  - (DEX Pool 17) lBTC<>cbBTC
  - (Vault ID 97) lBTC-cbBTC/WBTC
- Add team multisig as auth for the following DEX:
  - (DEX Pool 19) deUSD<>USDC
Collect Revenue:
- Collect revenue from all the non zero reserve assets on liquidity layer
  - ETH
  - wstETH
  - USDC
  - USDT
  - GHO
  - WBTC
  - cbBTC

Conclusion

The above proposal helps to set appropriate launch limits for the sUSDS based vaults, the tBTC/stable vaults, eBTC<>cbBTC, lBTC<>cbBTC DEXes & Vaults, deUSD<>USDC DEX, sUSDE<>USDT and USDE<>USDT DEXes and vaults in order to facilitate their smooth launch on Fluid. The updated params of cbBTC-WBTC DEX and ETH-USDC DEX and T4 Vault help to provide more efficient configs for the users. Finally the collection of the revenue from the reserves helps it to be utilized for growth initiatives.

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Cast Vote

Votes 7

Voter	Cast Power	Vote & Rationale
0xa761...834324	1.51M	FOR
0x1a99...43fe8F	1M	FOR
0xA45f...8cea01	1M	FOR
0x4604...6A7329	500,000	FOR
0xd99a...e5fFd1	420,318	FOR

VOTE POWER

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Proposal Status

Tue January 21 2025, 10:38 pmPublished Onchain 0x059A...bE8210
Wed January 22 2025, 10:46 pmVoting Period Starts
Fri January 24 2025, 10:59 pmEnd Voting Period
Fri January 24 2025, 11:02 pmQueue Proposal
Sun January 26 2025, 09:16 pmExecute Proposal

Current Results

1-FOR

4.631M

2-AGAINST

N/A Tokens

3-ABSTAIN

N/A Tokens

Quorum 4.631M/4M

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