From d2b86ccd752f03cd6d5b505ca91ba21b2edd5d5d Mon Sep 17 00:00:00 2001 From: Jesus Lanchas Date: Fri, 17 Nov 2023 17:39:50 +0100 Subject: [PATCH] feat: update description for VIP-205 --- simulations/vip-205/simulations.ts | 11 +++++++---- vips/vip-205.ts | 29 +++++++++++------------------ 2 files changed, 18 insertions(+), 22 deletions(-) diff --git a/simulations/vip-205/simulations.ts b/simulations/vip-205/simulations.ts index b732c3994..b01bf5449 100644 --- a/simulations/vip-205/simulations.ts +++ b/simulations/vip-205/simulations.ts @@ -23,7 +23,7 @@ const VPLANET_NEW_SUPPLY_CAP = parseUnits("2000000000", 18); const VPLANET_NEW_BORROW_CAP = parseUnits("1000000000", 18); const RATE_MODEL_CURRENT_CORE_POOL = "0x8612b1330575d3f2f792329C5c16d55f22433c3F"; -const RATE_MODE_TUSD_OLD = "0x574f056c1751Ed5F3aa30ba04e550f4E6090c992"; +const RATE_MODEL_TUSD_OLD = "0x574f056c1751Ed5F3aa30ba04e550f4E6090c992"; const RATE_MODEL_NEW_CORE_POOL = "0x8c2651590ECE4FFe8E722ef6F80cc7407f537bBa"; const ZERO_RATE_MODEL = "0x93FBc248e83bc8931141ffC7f457EC882595135A"; @@ -60,8 +60,9 @@ forking(33570600, () => { expect(await vUSDC.interestRateModel()).to.equal(RATE_MODEL_CURRENT_CORE_POOL); expect(await vDAI.interestRateModel()).to.equal(RATE_MODEL_CURRENT_CORE_POOL); expect(await vTUSD.interestRateModel()).to.equal(RATE_MODEL_CURRENT_CORE_POOL); - expect(await vTUSD_OLD.interestRateModel()).to.equal(RATE_MODE_TUSD_OLD); + expect(await vTUSD_OLD.interestRateModel()).to.equal(RATE_MODEL_TUSD_OLD); }); + it("Rate Model Params should match the current settings for USDT (Stablecoin)", async () => { // Assert current Rate model config for USDT in Stablecoin Pool expect(await vUSDT_Stablecoins_IR.jumpMultiplierPerBlock()).to.equal("237823439878"); @@ -75,13 +76,14 @@ forking(33570600, () => { const oldCap = await comptroller.supplyCaps(VPLANET_DEFI); expect(oldCap).to.equal(parseUnits("1000000000", 18)); }); + it("borrow cap of vPLANET (DEFI) equals 500,000,000", async () => { const oldCap = await comptroller.borrowCaps(VPLANET_DEFI); expect(oldCap).to.equal(parseUnits("500000000", 18)); }); }); - testVip("VIP-130 Risk Parameters Update", vip205(), { + testVip("VIP-205 Risk Parameters Update", vip205(), { callbackAfterExecution: async txResponse => { await expectEvents( txResponse, @@ -92,6 +94,7 @@ forking(33570600, () => { await expectEventWithParams(txResponse, VBEP20_DELEGATOR_ABI, "Failure", ["14", "50", "0"]); }, }); + describe("Post-VIP behaviour", async () => { it("sets new InterestRateModel", async () => { expect(await vUSDC.interestRateModel()).to.equal(RATE_MODEL_NEW_CORE_POOL); @@ -128,7 +131,7 @@ forking(33570600, () => { kink: "0.8", }); - checkInterestRate(RATE_MODEL_NEW_CORE_POOL, "VUSDT (CORE)", { + checkInterestRate(RATE_MODEL_NEW_CORE_POOL, "Stablecoins (CORE)", { base: "0", multiplier: "0.06875", jump: "2.5", diff --git a/vips/vip-205.ts b/vips/vip-205.ts index 13154ec19..7be384b7a 100644 --- a/vips/vip-205.ts +++ b/vips/vip-205.ts @@ -20,27 +20,20 @@ const ZERO_RATE_MODEL = "0x93FBc248e83bc8931141ffC7f457EC882595135A"; export const vip205 = () => { const meta = { version: "v2", - title: "VIP-187 Risk Parameters Adjustments (ETH and USDT Stablecoins)", - description: `#### Description + title: "VIP-205 Risk Parameters Adjustments (Stablecoins and PLANET)", + description: `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](https://community.venus.io/t/chaos-labs-risk-parameter-updates-11-14-2023/3900). -This VIP will perform the following Risk Parameters actions as per Chaos Labs latest recommendations in this Venus community forum publication: [Risk Parameter Updates 11/14/2023](https://community.venus.io/t/chaos-labs-risk-parameter-updates-11-14-2023/3900). - - -Stablecoin IR Curve Recommendations: - - 1. Multiplier Parameter Adjustment: Increase the multiplier parameter to reflect a 5.5% borrow rate at the 80% utilization kink point for: - - USDT, USDC, DAI, and TUSD in the Core Pool - - USDT in the Stablecoins Pool (IL). - - 2. PLANET (DeFi Pool) - - Increase supply cap to 2,000,000,000 - - Increase borrow cap to 1,000,000,000 - - 3. TUSDOLD Borrow Rates - - Reduce borrow rate to 0 +- **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`, forDescription: "I agree that Venus Protocol should proceed with this proposal", againstDescription: "I do not think that Venus Protocol should proceed with this proposal",