Instadapp

Summary

This proposal implements multiple actions including resetting launch limits for ezETH-ETH DEX and corresponding vaults, setting launch limits for cbBTC-ETH DEX T4 vault, updating base limits across all DEXes based on their overall caps, setting creation code for SmartLendingFactory, transferring $FLUID tokens to team multisig for ongoing rewards, delisting mETH vaults, and increasing weETH-ETH/wstETH borrow limits. The proposal also increases the limits for the sUSDe-USDT, USDe-USDT, USDC-USDT DEXes and max borrow shares of sUSDe-USDT | USDC-USDT vault along with readjusting the collateral factor, liquidation threshold, and max liquidation limit for rsETH vaults.

Code Changes

Reset Launch Limits for ezETH-ETH DEX and Related Vaults

• DEX Pool 21
  ezETH<>ETH:

  • Smart Collateral: true
  • Smart Debt: false
  • Base Withdrawal Limit in USD: $7.5M

• Vault ID 103
  ezETH<>wstETH (TYPE 1):

  • Base Withdrawal Limit in USD: $10M
  • Base Borrow Limit in USD: $10M
  • Max Borrow Limit in USD: $20M

• Vault ID 104
  ezETH-ETH<>wstETH (TYPE 2):

  • Base Borrow Limit in USD: $7.5M
  • Max Borrow Limit in USD: $15M

Set Launch Limits for cbBTC-ETH DEX T4 Vault

• DEX Pool 26
  cbBTC<>ETH:
  • Smart Collateral: true
  • Smart Debt: true
  • Base Withdrawal Limit in USD: $15M
  • Base Borrow Limit in USD: $15M
  • Max Borrow Limit in USD: $30M

Update Base Limits for DEXes

Updates maximum withdrawal shares and maximum borrow shares in USD for multiple DEXes:

Base Limits Calculation Logic

For each DEX, the base withdrawal and borrow limits are calculated as follows:

• Base Withdrawal Limit: 45% of Max Withdrawal Shares
• Base Borrow Limit: 60% of Max Borrow Shares
• Max Borrow Limit: 25% increase from Max Borrow Shares

Accordingly, the Base Withdrawal Limit, Base Borrow Limit, and Max Borrow Limit will be changed for the following DEXes w.r.t there Max Withdrawal and Borrow Shares in USD:

• DEX Pool 1
  wstETH<>ETH:

  • Max Withdrawal Shares in USD: $32M
  • Max Borrow Shares in USD: $28M

• DEX Pool 2
  USDC<>USDT:

  • Max Borrow Shares in USD: $60M

• DEX Pool 3
  cbBTC<>WBTC:

  • Max Withdrawal Shares in USD: $30M
  • Max Borrow Shares in USD: $21M

• DEX Pool 4
  GHO<>USDC:

  • Max Withdrawal Shares in USD: $10M
  • Max Borrow Shares in USD: $8M

• DEX Pool 9
  weETH<>ETH:

  • Max Withdrawal Shares in USD: $38M

• DEX Pool 11
  FLUID<>ETH:

  • Max Withdrawal Shares in USD: $15M

• DEX Pool 12
  USDC<>ETH:

  • Max Withdrawal Shares in USD: $70M
  • Max Borrow Shares in USD: $50M

• DEX Pool 13
  rsETH<>ETH:

  • Max Withdrawal Shares in USD: $12.5M

• DEX Pool 14
  weETHs<>ETH:

  • Max Withdrawal Shares in USD: $6.5M

• DEX Pool 15
  sUSDe<>USDT:

  • Max Withdrawal Shares in USD: $60M

• DEX Pool 16
  eBTC<>cbBTC:

  • Max Withdrawal Shares in USD: $20M

• DEX Pool 17
  LBTC<>cbBTC:

  • Max Withdrawal Shares in USD: $20M

• DEX Pool 18
  USDe<>USDT:

  • Max Withdrawal Shares in USD: $25M

• DEX Pool 19
  deUSD<>USDC:

  • Max Withdrawal Shares in USD: $15M

• DEX Pool 20<br USR<>USDC:

  • Max Withdrawal Shares in USD: $15M

• DEX Pool 22
  cbBTC<>USDT:

  • Max Withdrawal Shares in USD: $25M
  • Max Borrow Shares in USD: $20M

• DEX Pool 23
  USD0<>USDC:

  • Max Withdrawal Shares in USD: $15M

• DEX Pool 24
  fxUSD<>USDC:

  • Max Withdrawal Shares in USD: $15M

Set Creation Code for SmartLendingFactory

• Sets creation code for SmartLendingFactory at 0xe57227C7d5900165344b190fc7aa580bceb53B9B
• Uses SSTORE2 pointer at 0x99a516222A64c7F5FFdC760a3bc28905140e666D

Transfer FLUID Tokens

• Transfers 311,000 FLUID tokens to Team Multisig (0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e)

Delist mETH Vaults

Pauses supply and borrow limits for the following vaults by setting minimal limits:

• Vault ID 81
  mETH<>USDC Vault:

  • Supply Configuration-
    • Mode: 1
    • Expand Percent: 0.01%
    • Expand Duration: 16777215 (max)
    • Base Withdrawal Limit: 10 mETH
  • Borrow Configuration-
    • Mode: 1
    • Expand Percent: 0.01%
    • Expand Duration: 16777215 (max)
    • Base Borrow Limit: 10 USDC
    • Max Borrow Limit: 20 USDC

• Vault ID 82
  mETH<>USDT Vault:

  • Supply Configuration-
    • Mode: 1
    • Expand Percent: 0.01%
    • Expand Duration: 16777215 (max)
    • Base Withdrawal Limit: 10 mETH
  • Borrow Configuration-
    • Mode: 1
    • Expand Percent: 0.01%
    • Expand Duration: 16777215 (max)
    • Base Borrow Limit: 10 USDT
    • Max Borrow Limit: 20 USDT

• Vault ID 83
  mETH<>GHO Vault:

  • Supply Configuration-
    • Mode: 1
    • Expand Percent: 0.01%
    • Expand Duration: 16777215 (max)
    • Base Withdrawal Limit: 10 mETH
  • Borrow Configuration-
    • Mode: 1
    • Expand Percent: 0.01%
    • Expand Duration: 16777215 (max)
    • Base Borrow Limit: 10 GHO
    • Max Borrow Limit: 20 GHO

Increase weETH-ETH/wstETH Borrow Limits

• Vault ID 74
  ETH-weETH<>wstETH (TYPE 2):
  • Base Borrow Limit in USD: $12.5M
  • Max Borrow Limit in USD: $37M

Increase Caps on sUSDe-USDT, USDe-USDT & USDC-USDT DEXes

• DEX Pool 2
  USDC-USDT DEX

  • Max Borrow Shares: 30M Shares

• DEX Pool 15
  sUSDe-USDT DEX

  • Max Borrow Shares: 30M Shares

• DEX Pool 18
  USDe-USDT DEX

  • Max Borrow Shares: 12.5M Shares

Adjust CF, LT and LML for rsETH Vaults

• Vault ID 78
  rsETH-ETH<>wstETH Vault:

  • Configuration-
    • Collateral Factor: 94%
    • Liquidation Threshold: 96%
    • Liquidation Max Limits: 97%

• Vault ID 79
  rsETH<>wstETH Vault:

  • Configuration-
    • Collateral Factor: 94%
    • Liquidation Threshold: 96%
    • Liquidation Max Limits: 97%

Increase max borrow shares on sUSDe-USDT | USDC-USDT

• Vault ID 98
  sUSDe-USDT (Smart Collateral)/USDC-USDT (Smart Debt):
  • Vault Type: TYPE 4
  • Borrow Configuration:
    • Borrow Mode: 1
    • Borrow Expand Percent: 30%
    • Borrow Expand Duration: 6 hours
    • Borrow Base Limit in USD: 5M shares
    • Borrow Max Limit in USD: 25M shares

Description

The proposal includes the following key actions:

1. Limits Management:

   • Reset launch limits for:
     • DEX Pool 21 - ezETH<>ETH (Smart Collateral)
     • Vault ID 103 - ezETH<>wstETH - TYPE 1
     • Vault ID 104 - ezETH-ETH<>wstETH - TYPE 2 (Smart Collateral & Debt)
   • Set launch limits for:
     • Vault ID 106 - cbBTC-ETH - TYPE 4 (Smart Collateral & Debt)
   • Update base limits for DEX pools:
     • DEX Pool 1 - wstETH<>ETH (Smart Collateral & Smart Debt)
     • DEX Pool 2 - USDC<>USDT (Smart Debt only)
     • DEX Pool 3 - cbBTC<>WBTC (Smart Collateral & Smart Debt)
     • DEX Pool 4 - GHO<>USDC (Smart Collateral & Smart Debt)
     • DEX Pool 9 - weETH<>ETH (Smart Collateral Only)
     • DEX Pool 11 - FLUID<>ETH
     • DEX Pool 12 - USDC<>ETH (Smart Collateral & Smart Debt)
     • DEX Pool 13 - rsETH<>ETH (Smart Collateral Only)
     • DEX Pool 14 - weETHs<>ETH (Smart Collateral Only)
     • DEX Pool 15 - sUSDe<>USDT (Smart Collateral Only)
     • DEX Pool 16 - eBTC<>cbBTC (Smart Collateral Only)
     • DEX Pool 17 - LBTC<>cbBTC (Smart Collateral Only)
     • DEX Pool 18 - USDe<>USDT (Smart Collateral Only)
     • DEX Pool 19 - deUSD<>USDC (Smart Collateral Only)
     • DEX Pool 20 - USR<>USDC (Smart Collateral Only)
     • DEX Pool 22 - cbBTC<>USDT (Smart Collateral & Smart Debt)
     • DEX Pool 23 - USD0<>USDC (Smart Collateral Only)
     • DEX Pool 24 - fxUSD<>USDC (Smart Collateral Only)
   • Increase the Limits for the following DEX Pools:
     • DEX Pool 2 - USDC<>USDT (Smart Debt)
     • DEX Pool 15 - sUSDe<>USDT (Smart Collateral)
     • DEX Pool 18 - USDe<>USDT (Smart Collateral)
   • Increase the Max Borrow Limit for:
     • Vault ID 98 - sUSDe-USDT<>USDC-USDT (Smart Collateral & Smart Debt)

2. Smart Lending Updates:

   • Sets creation code for SmartLendingFactory using SSTORE2 storage

3. Token Management:

   • Transfer FLUID Tokens to Team Multisig:
     • 311,000 FLUID to 0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e

4. Vault Management:

   • Delists mETH vaults by pausing their supply and borrow limits:
     • Vault ID 81 - mETH<>USDC - TYPE 1
     • Vault ID 82 - mETH<>USDT - TYPE 1
     • Vault ID 83 - mETH<>GHO - TYPE 1
   • Increases weETH-ETH/wstETH borrow limits:
     • Vault ID 74 - ETH-weETH<>wstETH - TYPE 2
   • Update the parameters for rsETH vaults:
     • Vault ID 78 - rsETH-ETH<>wstETH - TYPE 2
     • Vault ID 77 - rsETH<>wstETH - TYPE 1

Conclusion

This proposal implements comprehensive changes across various DEXes and vaults, adjusting limits and parameters to optimize liquidity management and protocol functionality. It also includes important administrative actions such as setting SmartLendingFactory code and managing FLUID token transfer for smooth facilitation of rewards, while delisting mETH vaults and updating borrow limits for ETH-weETH/wstETH vaults. The increase in DEX and Vault limits of selected pools and vault helps to accommodate more liquidity into them while adjusting the rsETH vault parameters helps to match the market conditions.