Created VIP-117. Proposal type: Normal. Proposer: Community Wallet. VIP-117 Risk Parameters Update. Summary.
12 May 2023, 18:22
🔵 Created VIP-117
Proposal type: Normal
Proposer: Community Wallet
VIP-117 Risk Parameters Update
Summary
This VIP will perform the following actions:
- SXP: Decrease CF from 12.5% to 0%.
- SXP: Reduce Reserves from the SXP Market and send them to the Treasury.
- SXP: Send SXP from the Treasury to Binance to be Swapped to USDT.
- TRX: Increase CF from 50% to 52.5%.
Description
In view of the deprecation of SXP on BNB Chain, Venus will withdraw the available SXP interest reserves and SXP Treasury and send them to Binance to be exchanged for USDT.
This VIP will also increase TRX Collateral Factor to 52.5% as the available liquidity on BNB Chain is seeing a healthy increase.
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