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feat: add description in the VIP adding the agEUR market
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chechu committed Sep 29, 2023
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62 changes: 57 additions & 5 deletions vips/vip-178/vip-178-testnet.ts
Original file line number Diff line number Diff line change
Expand Up @@ -16,11 +16,63 @@ const ANGLE = "0xD1Bc731d188ACc3f52a6226B328a89056B0Ec71a";
export const vip178Testnet = () => {
const meta = {
version: "v2",
title: "VIP-178 Add agEUR market to Stablecoin Pool",
description: ``,
forDescription: "I agree that Venus Protocol should proceed with add market",
againstDescription: "I do not think that Venus Protocol should proceed with add market",
abstainDescription: "I am indifferent to whether Venus Protocol proceeds with add market",
title: "VIP-178 Add support for agEUR market in the Stablecoins pool",
description: `#### Summary
If passed, this VIP will add a new market for [agEUR](https://bscscan.com/address/0x12f31B73D812C6Bb0d735a218c086d44D5fe5f89) into the Isolated Lending Stablecoins pool.
#### Description
**Risk parameters**
Following [Chaos Labs recommendations](https://community.venus.io/t/chaos-labs-risk-parameter-updates-08-28-2023/3720), the risk parameters for the new market are:
- Underlying token: [agEUR](https://bscscan.com/address/0x12f31B73D812C6Bb0d735a218c086d44D5fe5f89)
- Borrow cap: 50,000 agEUR
- Supply cap: 100,000 agEUR
- Collateral factor: 0.75
- Liquidation threshold: 0.8
- Reserve factor: 0.1
Bootstrap liquidity: 9,000 agEUR - provided by the Venus Community.
Interest rate curve for the new market:
- kink: 0.5
- base (yearly): 0.02
- multiplier (yearly): 0.1
- jump multiplier (yearly): 2.5
**Rewards**
- 17,650 [ANGLE](https://bscscan.com/token/0x97B6897AAd7aBa3861c04C0e6388Fc02AF1F227f), for 7 days, only for borrowers in the new agEUR market
**Security and additional considerations**
No changes in the code are involved in this VIP. We applied the following security procedures for this upgrade:
- **VIP execution simulation**: in a simulation environment, validating the new market is properly added to the Stablecoins pool with the right parameters and the expected bootstrap liquidity
- **Deployment on testnet**: the same market has been deployed to testnet, and used in the Venus Protocol testnet deployment
**Contracts on mainnet**
New market vagEUR_Stablecoins: [0x795DE779Be00Ea46eA97a28BDD38d9ED570BCF0F](https://bscscan.com/address/0x795DE779Be00Ea46eA97a28BDD38d9ED570BCF0F)
**Contracts on testnet**
New market vagEUR_Stablecoins: [0x4E1D35166776825402d50AfE4286c500027211D1](https://testnet.bscscan.com/address/0x4E1D35166776825402d50AfE4286c500027211D1)
**References**
- [Repository](https://github.com/VenusProtocol/isolated-pools)
- [Fork tests of main operations](https://github.com/VenusProtocol/isolated-pools/tree/develop/tests/hardhat/Fork)
- [VIP simulation](https://github.com/VenusProtocol/vips/pull/79)
- [Forum proposal to add agEUR market to Venus](https://community.venus.io/t/isolated-market-for-ageur-on-venus/3709)
- [Community post about Venus V4, introducing Isolated Pools](https://community.venus.io/t/proposing-venus-v4)
- [Documentation](https://docs-v4.venus.io/whats-new/isolated-pools)`,
forDescription: "Process to configure and launch the new market",
againstDescription: "Defer configuration and launch of the new market",
abstainDescription: "No opinion on the matter",
};

return makeProposal(
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62 changes: 57 additions & 5 deletions vips/vip-178/vip-178.ts
Original file line number Diff line number Diff line change
Expand Up @@ -20,11 +20,63 @@ const MAX_STALE_PERIOD_ANGLE = 60 * 25;
export const vip178 = (maxStalePeriod?: number) => {
const meta = {
version: "v2",
title: "VIP-178 Add agEUR market to Stablecoin Pool",
description: ``,
forDescription: "I agree that Venus Protocol should proceed with add market",
againstDescription: "I do not think that Venus Protocol should proceed with add market",
abstainDescription: "I am indifferent to whether Venus Protocol proceeds with add market",
title: "VIP-178 Add support for agEUR market in the Stablecoins pool",
description: `#### Summary
If passed, this VIP will add a new market for [agEUR](https://bscscan.com/address/0x12f31B73D812C6Bb0d735a218c086d44D5fe5f89) into the Isolated Lending Stablecoins pool.
#### Description
**Risk parameters**
Following [Chaos Labs recommendations](https://community.venus.io/t/chaos-labs-risk-parameter-updates-08-28-2023/3720), the risk parameters for the new market are:
- Underlying token: [agEUR](https://bscscan.com/address/0x12f31B73D812C6Bb0d735a218c086d44D5fe5f89)
- Borrow cap: 50,000 agEUR
- Supply cap: 100,000 agEUR
- Collateral factor: 0.75
- Liquidation threshold: 0.8
- Reserve factor: 0.1
Bootstrap liquidity: 9,000 agEUR - provided by the Venus Community.
Interest rate curve for the new market:
- kink: 0.5
- base (yearly): 0.02
- multiplier (yearly): 0.1
- jump multiplier (yearly): 2.5
**Rewards**
- 17,650 [ANGLE](https://bscscan.com/token/0x97B6897AAd7aBa3861c04C0e6388Fc02AF1F227f), for 7 days, only for borrowers in the new agEUR market
**Security and additional considerations**
No changes in the code are involved in this VIP. We applied the following security procedures for this upgrade:
- **VIP execution simulation**: in a simulation environment, validating the new market is properly added to the Stablecoins pool with the right parameters and the expected bootstrap liquidity
- **Deployment on testnet**: the same market has been deployed to testnet, and used in the Venus Protocol testnet deployment
**Contracts on mainnet**
New market vagEUR_Stablecoins: [0x795DE779Be00Ea46eA97a28BDD38d9ED570BCF0F](https://bscscan.com/address/0x795DE779Be00Ea46eA97a28BDD38d9ED570BCF0F)
**Contracts on testnet**
New market vagEUR_Stablecoins: [0x4E1D35166776825402d50AfE4286c500027211D1](https://testnet.bscscan.com/address/0x4E1D35166776825402d50AfE4286c500027211D1)
**References**
- [Repository](https://github.com/VenusProtocol/isolated-pools)
- [Fork tests of main operations](https://github.com/VenusProtocol/isolated-pools/tree/develop/tests/hardhat/Fork)
- [VIP simulation](https://github.com/VenusProtocol/vips/pull/79)
- [Forum proposal to add agEUR market to Venus](https://community.venus.io/t/isolated-market-for-ageur-on-venus/3709)
- [Community post about Venus V4, introducing Isolated Pools](https://community.venus.io/t/proposing-venus-v4)
- [Documentation](https://docs-v4.venus.io/whats-new/isolated-pools)`,
forDescription: "Process to configure and launch the new market",
againstDescription: "Defer configuration and launch of the new market",
abstainDescription: "No opinion on the matter",
};

return makeProposal(
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