VIP-205 Risk Parameters Adjustments (Stablecoins and PLANET)

LINK

Summary

This VIP will perform the following Risk Parameter actions as per Chaos Labs’ latest recommendations in this Venus community forum publication: Risk Parameter Updates 11/14/2023.

  • Stablecoin IR Curve Recommendations
    • Multiplier Parameter Adjustment: Increase the multiplier parameter (until 6.875% yearly) to reflect a 5.5% borrow rate at the 80% utilization kink point for USDT, USDC, DAI, and TUSD in the Core Pool and USDT in the Stablecoins Pool.
  • PLANET (DeFi Pool)
    • Increase supply cap to 2,000,000,000 PLANET
    • Increase borrow cap to 1,000,000,000 PLANET
  • TUSDOLD Borrow Rate
    • Reduce borrow rate to 0

Complete analysis and details of these recommendations are available in the above publication.

VIP simulation: https://github.com/VenusProtocol/vips/pull/110

Voting options

  • For – I agree that Venus Protocol should proceed with this proposal
  • Against – I do not think that Venus Protocol should proceed with this proposal
  • Abstain – I am indifferent to whether Venus Protocol proceeds or not

Operation

vUSDT._setInterestRateModel(“0x8c2651590ECE4FFe8E722ef6F80cc7407f537bBa”)

vUSDC._setInterestRateModel(“0x8c2651590ECE4FFe8E722ef6F80cc7407f537bBa”)

vDAI._setInterestRateModel(“0x8c2651590ECE4FFe8E722ef6F80cc7407f537bBa”)

vTUSD._setInterestRateModel(“0x8c2651590ECE4FFe8E722ef6F80cc7407f537bBa”)

0x7dc969122450749A8B0777c0e324522d67737988.updateJumpRateModel(0, 68750000000000000, 2500000000000000000, 800000000000000000)

0x3344417c9360b963ca93A4e8305361AEde340Ab9.setMarketBorrowCaps([“0xFf1112ba7f88a53D4D23ED4e14A117A2aE17C6be”], [1e+27])

0x3344417c9360b963ca93A4e8305361AEde340Ab9.setMarketSupplyCaps([“0xFf1112ba7f88a53D4D23ED4e14A117A2aE17C6be”], [2e+27])

vTUSDOLD._setInterestRateModel(“0x93FBc248e83bc8931141ffC7f457EC882595135A”)


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