VIP-127 Vaults Upgrade is LIVE. Summary. If passed this VIP will perform the following actions:.
11 Jun 2023, 13:18
VIP-127 Vaults Upgrade is LIVE!
Summary
If passed this VIP will perform the following actions:
XVS Vault: XVS that has been requested for withdrawal will not accrue rewards from the moment of the request
VRT Vault: stop rewarding users since June 15th, 2023, 00:00 GMT, and transfer the ownership to Governance
Fast-track and Critical VIP's will be able to pause and resume the XVS Vault, VAI Vault and VRT Vault
Description
This VIP upgrades the implementation of the three vaults in Venus: XVS Vault, VAI Vault and VRT Vault. This upgrade enables several new features:
Proposed as a part of the Venus Tokenomics, when users request a withdrawal in the XVS Vault, those balances will no longer qualify for earning staking rewards, they will be considered already liquid and withdrawn from the vault.
Stop rewards to the VRT vault as VRT has been deprecated and will no longer be supported on Venus nor BNB Chain. The last block number where VRT rewards will be distributed in the vault is 29108355 (Estimated Target Date: Tue Jun 15th 2023 00:00:00 GMT).
Fast-track and Critical VIP’s are authorized to pause and resume the vaults, following the guidelines of Venus V4. Normal VIP’s will continue being used for regular updates, but from now on the community will be able to pause and resume the vaults quickly.
Finally, this VIP will transfer the remaining vaults Admin privileges to the Governance.
Vote 👉