Instadapp

Summary

This proposal implements three key changes: (1) updating the revenue share model across all active DEX pools to allocate 25% of trading fees to revenue, (2) adding a fee handler for the USDe-USDT DEX pool, (3) setting launch limits for the LBTC-cbBTC <> cbBTC vault while reducing the borrow limits for LBTC-cbBTC<>WBTC, (4) setting launch limits for the LBTC-WBTC <> WBTC vault, and (5) updating the lower range percent od wstETh-ETH Pool. The proposal maintains existing trading fee rates while standardizing the revenue distribution model across stable DEX Pools alongside adjusting certain parameters for USDe-USDT, wstETH-ETH DEXes and LBTC-cbBTC <> cbBTC, LBTC-WBTC<>WBTC & LBTC-cbBTC<>WBTC vaults.

Code Changes

Update Revenue Share Model for DEX Pools

Updates the fee and revenue cut configuration for the following DEX pools, setting the revenue share to 25% of the trading fee:

• DEX Pool 1
  wstETH<>ETH (Smart Collateral & Smart Debt):

  • Revenue Share: 25% of dynamic trading fee

• DEX Pool 2
  USDC<>USDT (Smart Debt only):

  • Revenue Share: 25% of dynamic trading fee

• DEX Pool 3
  cbBTC<>WBTC (Smart Collateral & Smart Debt):

  • Trading Fee: 0.01%
  • Revenue Share: 25% of trading fee

• DEX Pool 4
  GHO<>USDC (Smart Collateral & Smart Debt):

  • Trading Fee: 0.05%
  • Revenue Share: 25% of trading fee

• DEX Pool 9
  weETH<>ETH (Smart Collateral Only):

  • Trading Fee: 0.01%
  • Revenue Share: 25% of trading fee

• DEX Pool 13
  rsETH<>ETH (Smart Collateral Only):

  • Trading Fee: 0.01%
  • Revenue Share: 25% of trading fee

• DEX Pool 14
  weETHs<>ETH (Smart Collateral Only):

  • Trading Fee: 0.05%
  • Revenue Share: 25% of trading fee

• DEX Pool 15
  sUSDe<>USDT (Smart Collateral Only):

  • Trading Fee: 0.02%
  • Revenue Share: 25% of trading fee

• DEX Pool 16
  eBTC<>cbBTC (Smart Collateral Only):

  • Trading Fee: 0.05%
  • Revenue Share: 25% of trading fee

• DEX Pool 17
  LBTC<>cbBTC (Smart Collateral Only):

  • Trading Fee: 0.05%
  • Revenue Share: 25% of trading fee

• DEX Pool 18
  USDe<>USDT (Smart Collateral Only):

  • Trading Fee: 0.01%
  • Revenue Share: 25% of trading fee

• DEX Pool 19
  deUSD<>USDC (Smart Collateral Only):

  • Trading Fee: 0.01%
  • Revenue Share: 25% of trading fee

• DEX Pool 20
  USR<>USDC (Smart Collateral Only):

  • Trading Fee: 0.01%
  • Revenue Share: 25% of trading fee

• DEX Pool 21
  ezETH<>ETH (Smart Collateral Only):

  • Trading Fee: 0.05%
  • Revenue Share: 25% of trading fee

• DEX Pool 23
  USD0<>USDC (Smart Collateral Only):

  • Trading Fee: 0.01%
  • Revenue Share: 25% of trading fee

• DEX Pool 24
  fxUSD<>USDC (Smart Collateral Only):

  • Trading Fee: 0.01%
  • Revenue Share: 25% of trading fee

Add Fee Handler for USDe-USDT DEX

• DEX Pool 18
  USDe<>USDT:
  • Add DEX Fee Handler (0x855BaEf2EEBf4238e6e509c85a5277a3c5A38f9D)

Set Launch Limits for LBTC-cbBTC <> cbBTC Vault and reduce limits for LBTC-cbBTC <> WBTC

• Vault ID 114
  LBTC-cbBTC<>cbBTC (TYPE 2):

  • Supply Configuration:
    • Base Withdrawal Limit: 50 shares
  • Borrow Configuration:
    • Base Borrow Limit in USD: $10M
    • Max Borrow Limit in USD: $15M

• Vault ID 97
  LBTC-cbBTC<>WBTC (TYPE 2):

  • Borrow Configuration:
    • Base Borrow Limit in USD: $0.5M
    • Max Borrow Limit in USD: $1M

Set Launch Limits for LBTC-cbBTC <> cbBTC Vault

• Vault ID 115
  LBTC-WBTC<>WBTC (TYPE 2):
  • Supply Configuration:
    • Base Withdrawal Limit: $10M
  • Borrow Configuration:
    • Base Borrow Limit in USD: $10M
    • Max Borrow Limit in USD: $15M

Remove Team Multisig as Auth

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

• (Vault ID 114) LBTC-cbBTC<>cbBTC
• (Vault ID 115) LBTC-WBTC<>WBTC
• (DEX Pool 30) LBTC-WBTC

Update lower range and Fee Auth for wstETH-ETH DEX

• DEX Pool 1
  wstETH<>ETH
  • Lower Range :
    • Lower Percent : 0.1%
    • Upper Percent : 0.0001%

Description

The proposal includes the following key actions:

1. DEX Management:

   • Implements a standardized revenue share model - 25% cut of the trading fee across all stable 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 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 23 - USD0<>USDC (Smart Collateral Only)
     • DEX Pool 24 - fxUSD<>USDC (Smart Collateral Only)
   • Adds Fee Handler contract as auth for:
     • DEX Pool 18 - USDe-USDT
   • Update lower range percent for:
     • DEX Pool 1 - wstETH-ETH

2. Vault Management:

   • Set launch limits and remove auth for the vaults
     • Vault ID 114 - LBTC-cbBTC <> cbBTC - TYPE 2
     • Vault ID 115 - LBTC-WBTC <> WBTC - TYPE 2
   • Reduce the borrow limits for:
     • Vault ID 97 - LBTC-cbBTC <> WBTC - TYPE 2

Conclusion

This proposal standardizes the revenue share model across all Stable DEX pools by implementing a consistent 25% revenue cut from trading fees. The addition of a dedicated fee handler for the USDe-USDT DEX pool will improve the efficiency of fee management and distribution for this specific pool. It also sets up launch limits for the new LBTC-cbBTC <> cbBTC and LBTC-WBTC <> WBTC vaults for its efficient launch. Finally, the update of wstETH-ETH range helps to better adapt with the market conditions.