Instadapp

Summary

This proposal sets up the initial limits for the USR-USDC DEX, USDC Collateral Vaults, and sUSDe-USDT<>USDC-USDT & USDe-USDT<>USDC-USDT T4 Vaults. The proposal also removes the team multisig as the DEX auth from the deUSD-USDC DEX while updating the lower range of the wstETH-ETH DEX and both the lower range and trading fees of the weETHs-ETH DEX. Additionally, it proposes withdrawing ETH from the reserve to the team multisig and discontinuing the fGHO rewards. Finally, the proposal also expands the USDe-USDT Range and sUSDe-USDT trading fee.

Code Changes

Set Dust Limits for USDC Collateral Vaults

• Vault ID 100
  USDC<>ETH: 0x348aD11DB2c90e7FdF8e57420C569F76dBe38a59

  • Vault Type: TYPE 1
  • Supply Configuration:
    • Supply Mode: 1
    • Supply Expand Percent: 25%
    • Supply Expand Duration: 12 hours
    • Base Withdrawal Limit in USD: $10K
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: $8K
    • Borrow Max Limit in USD: $10K

• Vault ID 101
  USDC<>WBTC: 0xF140Ea1C1D657EaaB802FF7626dC220cD4007CE7

  • Vault Type: TYPE 1
  • Supply Configuration:
    • Supply Mode: 1
    • Supply Expand Percent: 25%
    • Supply Expand Duration: 12 hours
    • Base Withdrawal Limit in USD: $10K
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: $8K
    • Borrow Max Limit in USD: $10K

• Vault ID 102
  USDC<>cbBTC: 0x1581f8C3De000b9A1cde85CaF68eC979D76a7b5E

  • Vault Type: TYPE 1
  • Supply Configuration:
    • Supply Mode: 1
    • Supply Expand Percent: 25%
    • Supply Expand Duration: 12 hours
    • Base Withdrawal Limit in USD: $10K
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: $8K
    • Borrow Max Limit in USD: $10K

Set Dust Allowance for USR-USDC Vault

• DEX Pool 20
  USR<>USDC: 0xc6fdFc08401113D02280E27f53F4F38A19fbCcc9
  • Supply Configuration:
    • Supply Mode: 1
    • Supply Expand Percent: 25%
    • Supply Expand Duration: 12 hours
    • Base Withdrawal Limit in USD: $10K

Set Dust Allowance for sUSDe-USDT<>USDC-USDT

• Vault ID 98
  sUSDe-USDT (Smart Collateral)/USDC-USDT (Smart Debt): 0xB170B94BeFe21098966aa9905Da6a2F569463A21
  • Vault Type: TYPE 4
  • Supply Configuration:
    • Supply Mode: 1
    • Supply Expand Percent: 25%
    • Supply Expand Duration: 12 hours
    • Base Withdrawal Limit in USD: 4K shares
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: 4K shares
    • Borrow Max Limit in USD: 5K shares

Set Dust Allowance for USDe-USDT<>USDC-USDT

• Vault ID 99
  USDe-USDT (Smart Collateral)/USDC-USDT (Smart Debt): 0xaEac94D417BF8d8bb3A44507100Ab8c0D3b12cA1
  • Vault Type: TYPE 4
  • Supply Configuration:
    • Supply Mode: 1
    • Supply Expand Percent: 25%
    • Supply Expand Duration: 12 hours
    • Base Withdrawal Limit in USD: 4K shares
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: 4K shares
    • Borrow Max Limit in USD: 5K shares

Setting Team Multisig as Vault and DEX Auth

The Avocado team multisig: 0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e will serve as the auth for vault and DEX management for setting up the initial configuration of the following vaults and DEX:

• (Vault ID 98) sUSDe-USDT<>USDC-USDT
• (Vault ID 99) USDe-USDT<>USDC-USDT
• (Vault ID 100) USDC/ETH
• (Vault ID 101) USDC/WBTC
• (Vault ID 102) USDC/cbBTC
• (DEX Pool 20) USR<>USDC

Remove Team Multisig as DEX Auth

The Avocado team multisig: 0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e will be removed as the DEX Auth from:

• (DEX Pool 19) deUSD<>USDC

Update Lower Range of wstETH-ETH DEX

• DEX Pool 1
  
  • wstETH<>ETH
    • Update the Range
      • New Upper Range: 0.0001%
      • New Lower Range: 0.075%
      • Shift Time: 0 seconds

Update Lower Range of weETHs-ETH DEX

• DEX Pool 14
  
  • weETHs<>ETH
    • Update the Range
      • New Upper Range: 0.0001%
      • New Lower Range: 0.1%
      • Shift Time: 5 days
    • Update Trading Fees
      • New Trading Fee: 0.02%

Withdraw ETH from Reserve

• Withdraw 500 ETH from Reserve to the avocado team multisig: 0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e

Discontinue fGHO Rewards

• Readjust the fGHO allowance to 210K GHO
• Remove the fGHO rewards contract

Expand USDe-USDT DEX Range

Expand the Range - New Upper range: 0.15% - New Lower range: 0.15%

Update sUSDe-USDT DEX Fee

Update Trading Fees - New Trading Fee: 0.05%

Description

This governance proposal helps to set introductory limits for the USDC Collateral Vaults, USR-USDC DEX, and sUSDe-USDT<>USDC-USDT & USDe-USDT<>USDC-USDT Vaults. The proposal includes the following:

1. Vault Management:

   • Set initial limits for the USDC collateral vaults:
     • Vault ID 100 - USDC/ETH - TYPE 1
     • Vault ID 101 - USDC/WBTC - TYPE 1
     • Vault ID 102 - USDC/cbBTC - TYPE 1
   • Set initial limits for the (s)USDe-USDT<>USDC-USDT collateral vaults:
     • Vault ID 98 - sUSDe-USDT<>USDC-USDT - TYPE 4
     • Vault ID 99 - USDe-USDT<>USDC-USDT - TYPE 4

2. DEX Management:

   • Set initial limits for the USR<>USDC DEX:
     • DEX Pool 20 - USR<>USDC
   • Update the lower range of wstETH-ETH & weETH-ETH DEXes:
     • DEX Pool 1 - wstETH<>ETH - 0.075%
       • Shift instantly
     • DEX Pool 14 - weETHs<>ETH - 0.1%
       • Shift in 5 days

3. Multisig Authorization:

   • Add team multisig as auth for the following:
     • (Vault ID 98) sUSDe-USDT<>USDC-USDT
     • (Vault ID 99) USDe-USDT<>USDC-USDT
     • (Vault ID 100) USDC/ETH
     • (Vault ID 101) USDC/WBTC
     • (Vault ID 102) USDC/cbBTC
     • (DEX Pool 20) USR<>USDC
   • Remove team multisig as auth from the following:
     • (DEX Pool 19) deUSD<>USDC

4. Miscellaneous:

   • Withdraw 500 ETH from the reserve to the Team Multisig
   • Discontinue the fGHO rewards
   • Expand USDe-USDT DEX Range -+0.15%
   • Update sUSDe-USDT DEX Fee to 0.05%

Conclusion

Setting up the initial configurations for the USDC Collateral Vaults, USR-USDC DEX, and sUSDe-USDT<>USDC-USDT & USDe-USDT<>USDC-USDT Vaults facilitates a smooth launch of these DEX and vaults on Fluid. The updates to the ranges and fee percentage of the DEXes help to better adjust to evolving market conditions. The multisig authorization updates allow flexible management of vaults on the liquidity layer, and the withdrawal of ETH helps to utilize it further for growth initiatives of the protocol.