[GIP-92] Adding FARM Credit Manager

Overview

This proposal aims to add new Credit Managers to USDC and WETH pools focused on leveraged farming. These Credit Managers would tap into the same lending pools currently live in V3, and will have a different composition of assets focused on leverage farming.

In short, the integrations focus on enabling leverage farming for:

• In short, the integrations focus on enabling leverage farming for:
• Rocketpool leveraged staking
• Stakewise leveraged (re)staking
• Fi leveraged (re)staking
• Balancer and Aura pools for rETH, osETH and weETH
• Stable Frax pools on Curve and Convex
• Stable crvUSD pools on Curve and Convex
• TriCrypto pool on Curve and Convex
• TriCRV pool on Curve and Convex

USDC Farm Credit Manager

The farming Credit Manager for USDC will have the following parameters:

1. Minimal debt principal - 50'000 USDC. This number is relatively high to enable liquidations on mainnet to be profitable and avoid bad debt.
2. Maximal debt principal - 1'000'000 USDC
3. Interest spread - 25%
4. Liquidation premium - 4%. This number is relatively high to enable liquidations on mainnet to be profitable and avoid bad debt.
5. DAO liquidation fee - 1.5%
6. Expiration liquidation premium* - 2%
7. DAO expiration liquidation fee* - 1%
8. Credit Manager debt limit - 5'000'000 USDC
9. DegenNFTs are required to open accounts

* Note that this Credit Manager will not have an expirable Credit Facade connected initially, but these fees need to be set regardless.

Assets

The USDC Credit Manager will have following assets allowed:

Asset	LT*	Min quota rate**	Max quota rate**	Limit**
WETH	90%	-	-	-
DAI	90%	-	-	-
USDT	90%	-	-	-
FRAX	90%	-	-	-
crvUSD	90%	-	-	-
sDAI	90%	-	-	-
yvUSDC	90%	-	-	-
yvDAI	90%	-	-	-
stkcvxcrvUSDUSDC	87%	1%	5.2%	9.6M USDC
stkcvxcrvUSDUSDT	87%	1%	7%	7.8M USDC
stkcvxcrvUSDFRAX	87%	1%	7.5%	4.5M USDC
stkcvxcrvFRAX	87%	1%	3.5%	20.4M USDC
CRV	72.5%	-	-	-
CVX	72.5%	-	-	-
crvUSDUSDC	0*	-	-	-
cvxcrvUSDUSDC	0*	-	-	-
crvUSDUSDT	0*	-	-	-
cvxcrvUSDUSDT	0*	-	-	-
crvUSDFRAX	0*	-	-	-
cvxcrvUSDFRAX	0*	-	-	-
crvFRAX	0*	-	-	-
cvxcrvFRAX	0*	-	-	-
3Crv	0*	-	-	-
crvCVXETH	0*	-	-	-
crvUSDETHCRV	0*	-	-	-

* Note that some tokens are added to the CM for compatibility, but cannot be used as collateral. These tokens have LT of 0.

** Parameters for tokens that are already added to the USDC PoolQuotaKeeper, and have an associated minRate/maxRate/limit will remain unchanged.

Quota increase fee (trading fee) for all new assets will be 0.

Adapters

The following is the list of contracts for which adapters are connected to the CM:

• UNISWAP_V3_ROUTER
• CURVE_CVXETH_POOL
• CURVE_TRI_CRV_POOL
• CURVE_3CRV_POOL
• CURVE_FRAX_USDC_POOL
• CURVE_CRVUSD_USDC_POOL
• CURVE_CRVUSD_USDT_POOL
• CURVE_CRVUSD_FRAX_POOL
• CONVEX_BOOSTER
• CONVEX_FRAX_USDC_POOL
• CONVEX_CRVUSD_USDC_POOL
• CONVEX_CRVUSD_USDT_POOL
• CONVEX_CRVUSD_FRAX_POOL
• YEARN_USDC_VAULT
• YEARN_DAI_VAULT
• MAKER_DSR_VAULT

WETH Farm Credit Manager

The farming Credit Manager for WETH will have the following parameters:

1. Minimal debt principal - 25 WETH
2. Maximal debt principal - 500 WETH
3. Interest spread - 25%
4. Liquidation premium - 4%
5. DAO liquidation fee - 1.5%
6. Expiration liquidation premium* - 2%
7. DAO expiration liquidation fee* - 1%
8. Credit Manager debt limit - 2500 WETH
9. DegenNFTs are required to open accounts

* Note that this Credit Manager will not have an expirable Credit Facade connected initially, but these fees need to be set regardless.

Assets

The WETH Credit Manager will have following assets allowed:

Asset	LT*	Min quota rate**	Max quota rate**	Limit**
WBTC	90%	-	-	-
USDT	90%	-	-	-
STETH	90%	-	-	-
rETH	90%	0.05%	3.16%	15000 WETH
weETH	90%	0.05%	30%	2500 WETH
osETH	90%	0.05%	3.16%	15000 WETH
yvWETH	90%	-	-	-
stkcvxcrvUSDETHCRV	85%	1%	14.7%	2700 WETH
stkcvxcrvUSDTWBTCWETH	85%	1%	7%	7750 WETH
auraB_rETH_STABLE_vault	87%	1%	5.5%	10000 WETH
auraosETH_wETH_BPT_vault	87%	1%	9.5%	1750 WETH
auraweETH_rETH_vault	87%	1%	30%	500 WETH
CRV	72.5%	-	-	-
CVX	72.5%	-	-	-
BAL	0*	-	-	-
AURA	0*	-	-	-
SWISE	0*	-	-	-
crvUSDETHCRV	0*	-	-	-
cvxcrvUSDETHCRV	0*	-	-	-
crvUSDTWBTCWETH	0*	-	-	-
cvxcrvUSDTWBTCWETH	0*	-	-	-
steCRV	0*	-	-	-
crvUSD	0*	-	-	-
crvCVXETH	0*	-	-	-
B_rETH_STABLE	0*	-	-	-
auraB_rETH_STABLE	0*	-	-	-
osETH_wETH_BPT	0*	-	-	-
auraosETH_wETH_BPT	0*	-	-	-
weETH_rETH	0*	-	-	-
auraweETH_rETH	0*	-	-	-
rETH_f	0*	-	-	-

* Note that some tokens are added to the CM for compatibility, but cannot be used as collateral. These tokens have LT of 0.

** Parameters for tokens that are already added to the USDC PoolQuotaKeeper, and have an associated minRate/maxRate/limit will remain unchanged.

Quota increase fee (trading fee) for all new assets will be 0.

Adapters

The following is the list of contracts for which adapters are connected to the CM:

• UNISWAP_V3_ROUTER
• BALANCER_VAULT
• CURVE_CVXETH_POOL
• CURVE_STETH_GATEWAY
• CURVE_RETH_ETH_POOL
• CURVE_TRI_CRV_POOL
• CURVE_3CRYPTO_POOL
• CONVEX_BOOSTER
• CONVEX_TRI_CRV_POOL
• CONVEX_3CRYPTO_POOL
• AURA_BOOSTER
• AURA_B_RETH_STABLE_POOL
• AURA_OSETH_WETH_POOL
• AURA_WEETH_RETH_POOL
• YEARN_WETH_VAULT