BIP #45 - 1 Incentivize USDT Pool

Background

On December 7, 2023, user 0xAlton initiated the BIP #45 governance proposal aimed at incentivizing the USDT deposit pool.

After a 7-day voting period, the proposal unfortunately did not receive support from the community.

According to BendDAO's governance rules, proposals that fail to pass can be reinitiated after a one-month interval. Since it has been over a month since the voting on BIP#45 concluded, the proposal is now eligible for a re-vote.

Summary

Currently, the utilization rate of the USDT deposit pool has exceeded 84%, and the borrowing rate has soared to over 70%.

Given such high interest rates, which may affect the usability of the protocol, I suggest incentivizing the USDT deposit pool to increase the earnings for depositors and attract more USDT assets into BendDAO, thereby reducing the borrowing rate.

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背景

2023年12月7日，用户0xAlton提出了BIP #45治理提案，旨在激励USDT存款池。

该提案历经7天投票，最终未能获得社区的支持。

根据BendDAO的治理规则，未通过的提案需间隔1个月后方可再次发起。自BIP#45提案投票结束至今已超过1个月，因此现在有资格再次发起投票。

摘要

目前，USDT存款池的利用率已超过84%，借款利率飙升至70%以上。

鉴于如此高的利率可能会影响协议的用户体验，我建议对USDT存款池进行激励，以增加存款人的收益，并吸引更多USDT资金流入BendDAO，从而降低借款利率。

BIP#45

BendDAO Proposal: BIP #45 Incentivize USDT Pool (snapshot.org)

• Phase 3: On-chain voting
  • Voting Quorum: Approximately 58M veBEND (10% of the total supply)
  • Pass Rate: Over 70% Approve.
  • The voting will last for 7 days.