Author

@desnakeee

Summary

This proposal aims to include ezETH to "Trade WETH Tier 2 Arbitrum" Credit Manager and make slight improvements to WETH CMs' parameters.

Motivation

Tier 1 CM min/max debt

Due to limitations of possible maxDebt/minDebt ratio, single credit manager will discriminate either users with big capital or those with a small one. To solve this problem it's proposed to increase Tier ETH 1 CM to allow leveraging for whales. Tier 2 CM's bounds will be left as is, so leveraging will stay affordable for smaller deposits.

Tier 1 CM debt limit

After raising quota limit for ezETH in GIP-137, debt limit in Tier 1 CM was filled.

Add ezETH to Tier 2 CM

As Tier 1 CM's minDebt and maxDebt will be increased it's proposed to add ezETH to Tier 2 CM with smaller bounds to keep it affordable for everyone.

Technical specification

"Trade WETH Tier 1 Arbitrum" CM parameters

minDebt: 7 ETH maxDebt: 150 ETH debtLimit: 2000 ETH

"Trade WETH Tier 2 Arbitrum" CM parameters

Add ezETH as collateral_ with LT = 0.87

It’ s proposed to add following adapters :

• Balancer
  • ezETH/wstETH (0xb61371ab661b1acec81c699854d2f911070c059e000000000000000000000516)
• Uniswap
  • ezETH/ETH 1% (0xa245416e3bEd0E60dd76ef400dE7396FC3F4cAa3)
• wstETH/ezETH 0.05% (0xF2C6091BFA490694f3E931020572f4cA9F6BE480)
• Camelot
  • ezETH/WETH (0xaA45265A94C93802BE9511E426933239117E658f)

PartialLiquidationBotV3 permissions

It's proposed to connect PartialLiquidationBotV3 as a special permissions bot for "Trade USDC Tier 1 Arbitrum" and "Trade USDC Tier 2 Arbitrum" credit managers to enable partial liquidations.

Reserve price feeds

Partial liquidations require tokens to have reserve price feeds as they currently rely on withdrawals being available.

It's proposed to set Redstone pull feeds as reserve feeds for the following tokens:

1. GMX -- https://app.redstone.finance/#/app/token/GMX
2. WBTC -- https://app.redstone.finance/#/app/token/WBTC
3. wstETH -- https://app.redstone.finance/#/app/token/wstETH
4. ARB -- https://app.redstone.finance/#/app/token/ARB
5. USDC -- https://app.redstone.finance/#/app/token/USDC
6. LINK -- https://app.redstone.finance/#/app/token/LINK
7. WETH -- https://app.redstone.finance/#/app/token/ETH

Transaction log

Transaction logs can be found here, md5 checksum is c8d7effc4a99943140b7fc1ebbf075b1.

Voting

Simple Approve/Reject