Instadapp

Summary

This proposal sets the initial limits for the ezETH-ETH DEX, ezETH<>wstETH T1 & ezETH-ETH<>wstETH T2 vaults, and the cbBTC<>USDT DEX T4 Vault. It also increases the supply and borrow caps for sUSDe-USDT<>USDT and reduces the max supply shares and max borrow limit for USDe-USDT<>USDT. Additionally, the proposal readjusts the LTV and LT for the USDe-USDT<>USDT vault, removes Multisig as Auth from the USR<>USDC DEX, and updates the allowance for sUSDe-USDT<>USDC-USDT T4 & USDe-USDT<>USDC-USDT T4 vaults.

Code Changes

Set dust limits for ezETH-ETH DEX and ezETH<>wstETH T1 & ezETH-ETH<>wstETH T2 vaults

• DEX Pool 21
  ezETH<>ETH: 0xDD72157A021804141817d46D9852A97addfB9F59

  • Supply Configuration:
    • Supply Mode: 1
    • Supply Expand Percent: 25%
    • Supply Expand Duration: 12 hours
    • Base Withdrawal Limit in USD: $10K

• Vault ID 103
  ezETH<>wstETH: 0x18D31F2E1374574DF8309F92305008Beb49d3618

  • 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 104
  ezETH-ETH(Smart Collateral)/wstETH Vault: 0x7ca57429d74EeDA2ae0AaE009277cB140d2B4901

  • Vault Type: TYPE 2
  • 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

Increase sUSDe-USDT<>USDT supply and borrow cap

• 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: $22.5M
    • Borrow Max Limit in USD: $45M

• Max Supply Shares: 25M shares

Reduce max supply shares and max borrow limit for USDe-USDT<>USDT

• 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: $9M
    • Borrow Max Limit in USD: $18M

• Max Supply Shares: 5M shares

Set Dust Allowance for cbBTC-USDT DEX T4 Vault

• DEX Pool 22
  
  • cbBTC<>USDT: 0xD0810e5CF08dCDe266ecEBEf40caD806c7768D72
    • Withdrawal Base Limit in USD: $10k
    • Borrow Base Limit in USD: $8k
    • Borrow Max Limit in USD: $10k

Update LTV and LT of USDe-USDT<>USDT vault

• Vault ID 93
  USDe-USDT/USDT Vault: - New Loan-to-Value Ratio: 94% - New Liquidation Threshold: 95% - New Liquidation Max Limit: 96%

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:

• (DEX Pool 21) ezETH<>ETH

• (Vault ID 103) ezETH<>wstETH

• (Vault ID 104) ezETH-ETH<>wstETH

• (DEX Pool 22) cbBTC<>USDT

• (Vault ID 105) cbBTC-USDT<>cbBTC-USDT

Update Allowance for sUSDe-USDT<>USDC-USDT

• Vault ID 98
  sUSDe-USDT (Smart Collateral)/USDC-USDT (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: 5M shares
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: 5M shares
    • Borrow Max Limit in USD: 15M shares

Update Allowance for USDe-USDT<>USDC-USDT

• Vault ID 99
  USDe-USDT (Smart Collateral)/USDC-USDT (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: 5M shares
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 20%
    • Borrow Expand Duration: 12 hours
    • Borrow Base Limit in USD: 5M shares
    • Borrow Max Limit in USD: 10M shares

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 98) sUSDe-USDT<>USDC-USDT

• (Vault ID 99) USDe-USDT<>USDC-USDT

• (DEX Pool 20) USR<>USDC

Description

This governance proposal helps to set introductory limits for the ezETH<>ETH DEX & ezETH<>wstETH, ezETH-ETH<>wstETH vaults, cbBTC<>USDT DEX and T4 vault while readjusting the caps for sUSDe-USDT<>USDT, USDe-USDT<>USDT Vaults and LTV, LT for USDe-USDT<>USDT vault. The proposal includes the following:

1. Vault Management:

   • Set initial limits for the ezETH vaults:
     • Vault ID 103 - ezETH/wstETH - TYPE 1
     • Vault ID 104 - ezETH-ETH/wstETH - TYPE 2
   • Set team multisig as auth for setting initial limits for the cbBTC-USDT T4 vault:
     • Vault ID 105 - cbBTC-USDT<>cbBTC-USDT - TYPE 4
   • Increase supply and borrow cap for sUSDe-USDT/USDT vault:
     • Vault ID 92 - sUSDe-USDT/USDT - TYPE 2
   • Decrease max supply shares and borrow limit for USDe-USDT/USDT vault:
     • Vault ID 93 - USDe-USDT/USDT - TYPE 2

2. DEX Management:

   • Set initial limits for the ezETH<>ETH DEX:
     • DEX Pool 21 - ezETH<>ETH
   • Set initial limits for the cbBTC<>USDT DEX:
     • DEX Pool 22 - cbBTC<>USDT

3. Multisig Authorization:

   • Add team multisig as auth for the following:
     • (DEX Pool 21) ezETH<>ETH
     • (Vault ID 103) ezETH<>wstETH
     • (Vault ID 104) ezETH-ETH<>wstETH
     • (DEX Pool 20) cbBTC<>USDT
     • (Vault ID 105) cbBTC-USDT<>cbBTC-USDT
   • Remove team multisig as auth from the following:
     • (Vault ID 98) sUSDe-USDT<>USDC-USDT
     • (Vault ID 99) USDe-USDT<>USDC-USDT
     • (DEX Pool 20) USR<>USDC

Conclusion

This proposal sets the initial limits for ezETH<>ETH DEX & ezETH<>wstETH, ezETH-ETH<>wstETH vaults, cbBTC<>USDT DEX, and the T4 vault while adjusting the caps for sUSDe-USDT<>USDT and USDe-USDT<>USDT vaults. The multisig authorization updates improve vault management flexibility. The updated allowance of sUSDe-USDT<>USDC-USDT and USDe-USDT<>USDC-USDT vaults facilitates their smooth launch with appropriate limits.