Created VIP-118. Proposal type: Normal. Proposer: Dev Team. VIP-118 ETH Shortfall Repayment. Summary.
12 May 2023, 19:43
🔵 Created VIP-118
Proposal type: Normal
Proposer: Dev Team
VIP-118 ETH Shortfall Repayment
Summary
This VIP will perform the following action:
Repay the amount of 1,437.5 ETH debt (Approximately $2.6M) on behalf of wallet address ‘0x7589dd3355dae848fdbf75044a3495351655cb1a’.
Description
Since the adoption of Venus Tokenomics 2.0 in August 2021, Venus has been accumulating reserves in its risk fund totalling $9,276,234.40.
If approved, this proposal will use 1437.5 ETH worth of that fund to commence repayment of insolvent accounts, scheduled in the order of decreasing debt.
A VIP to use the risk fund’s remaining balance of $6,676,234.30 will follow.
VOTE 👉🏻