VIP-206 Venus Prime: deployment stage 4/5

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Summary

If passed, this VIP will configure the PrimeLiquidityProvider contract, starting accruing rewards for Prime holders

Description

This VIP is the forth one on the deployment plan of Venus Prime. Check the updated Venus public documentation to review the details of the deployed Venus Prime program. This VIP is part of the proposal Venus Tokenomics Upgrade v3.0 Proposal, published in the Venus community forum. The Venus Prime finally released has several differences with the original program proposed.

The full deployment of Venus Prime needs 5 VIP’s. These are the details of the full deployment plan:

  • Enable Prime token, and allow users to claim them (VIP-201)
  • Set the rest of the timestamps when users staked more than 1,000 XVS on the XVSVault (VIP-202 and VIP-203)
  • Configure the PrimeLiquidityProvider contract, starting accruing rewards for Prime holders (this VIP)
  • Resume Prime

Specifically, in this VIP the following actions will be performed:

Action 1: Transfer funds from the Venus Treasury to the PrimeLiquidityProvider contract. These funds will be distributed among the Prime holders.

  • 150,666.50 USDT
  • 61,329.43 USDC
  • 2.18 BTC
  • 42.23 ETH

Action 2: Set distribution speeds in the PrimeLiquidityProvider contract. Set to distribute the previously transferred amounts in 60 days: 1,728,000 blocks.

  • USDT: 87191261574074074
  • USDC: 35491568287037037
  • BTC: 1261574074074
  • ETH: 24438657407407

Security and additional considerations

We applied the following security procedures for this VIP:

  • Venus Prime configuration post upgrade: in a simulation environment, validating the behavior of the Venus Prime tokens is the expected one after the VIP
  • Deployment on testnet: the same contracts were deployed and configured to testnet, and used in the Venus Protocol testnet deployment
  • Audit: OpenZeppelin, Certik, Peckshield and Fairyproof have audited the deployed code
  • Contest: Code4rena performed a contest on the Prime codebase

Audit reports

Deployed contracts on main net

References

Voting options

  • For – Execute this proposal
  • Against – Do not execute this proposal
  • Abstain – Indifferent to execution

Operation

0x23c4F844ffDdC6161174eB32c770D4D8C07833F2.setTokensDistributionSpeed([“0x2170Ed0880ac9A755fd29B2688956BD959F933F8”, “0x7130d2A12B9BCbFAe4f2634d864A1Ee1Ce3Ead9c”, “0x8AC76a51cc950d9822D68b83fE1Ad97B32Cd580d”, “0x55d398326f99059fF775485246999027B3197955”], [24438657407407, 1261574074074, 35491568287037037, 87191261574074074])

0xF322942f644A996A617BD29c16bd7d231d9F35E9.withdrawTreasuryBEP20(“0x2170Ed0880ac9A755fd29B2688956BD959F933F8”, 42230000000000000000, “0x23c4F844ffDdC6161174eB32c770D4D8C07833F2”)

0xF322942f644A996A617BD29c16bd7d231d9F35E9.withdrawTreasuryBEP20(“0x7130d2A12B9BCbFAe4f2634d864A1Ee1Ce3Ead9c”, 2180000000000000000, “0x23c4F844ffDdC6161174eB32c770D4D8C07833F2”)

0xF322942f644A996A617BD29c16bd7d231d9F35E9.withdrawTreasuryBEP20(“0x8AC76a51cc950d9822D68b83fE1Ad97B32Cd580d”, 6.132943e+22, “0x23c4F844ffDdC6161174eB32c770D4D8C07833F2”)

0xF322942f644A996A617BD29c16bd7d231d9F35E9.withdrawTreasuryBEP20(“0x55d398326f99059fF775485246999027B3197955”, 1.506665e+23, “0x23c4F844ffDdC6161174eB32c770D4D8C07833F2”)


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