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BendDAOBendDAOby0xA500Acf6292DF5022b3aF28851F9fCbA1ED88BF10xA500…8BF1

BIP#58: Adjust ETH & USDT Pool’s Interest Rate Parameters

Voting ended almost 2 years agoSucceeded

This BIP is proposed to adjust ETH & USDT pool's interest rate parameters based on current market conditions.

New Proposed Parameters

ETH Pool

  • baseRate: 12.00%, keep current value no changes.
  • slope1: 16.00%, keep current value no changes.
  • slope2: 200.00%, keep current value no changes.
  • optimalUtilizationRate: From 65% to 90%. This change means that interest rates will increase more gradually as utilization rate rises, avoiding sharp rate hikes that could deter borrowing.

New Interest Rates Table: https://governance.benddao.xyz/uploads/default/original/1X/97a3e245dffc901277b71510face50e921e5d3bd.png

USDT Pool

  • baseRate: 7.00%, keep current value no changes
  • slope1: 8.00%, keep current value no changes
  • slope2: 100.00%, keep current value no changes
  • optimalUtilizationRate: From 65% to 90% This change means that interest rates will increase more gradually as utilization rate rises, avoiding sharp rate hikes that could deter borrowing.

New Interest Rates Table: https://governance.benddao.xyz/uploads/default/original/1X/9f9439fba172acb30a3658e897a5731116afa9bb.png

On-chain voting

Voting Quorum: Approximately 53M veBEND (10% of the total supply) Pass Rate: Over 70% Approve. The voting will last for 3 days.

Off-Chain Vote

For
9.15M veBEND99%
Against
90.89K veBEND1%
Abstain
0 veBEND0%
Download mobile app to vote

Discussion

BendDAOBIP#58: Adjust ETH & USDT Pool’s Interest Rate Parameters

Timeline

Mar 25, 2024Proposal created
Mar 25, 2024Proposal vote started
Mar 28, 2024Proposal vote ended
Mar 28, 2024Proposal updated