VIP-87 is Live. Active until: 04. 2023 13:23 UTC. Proposer 0xc44494…. VIP-87 Payment issuance to Gauntlet. Summary.
03 Feb 2023, 13:25
VIP-87 is Live
Active until: 04.02.2023 13:23 UTC
Proposer 0xc44494…
VIP-87 Payment issuance to Gauntlet
Summary
Following the successful passing of the Snapshot proposal: Gauntlet Market Risk Management, and of VIP-72 Venus Protocol is now launching a VIP proposal to issue payment to Gauntlet.
Background
Gauntlet provides continuous market risk management to optimize yield, capital efficiency, and mitigate depositor losses on Venus Protocol.
An initial deposit of USD $160,000 was paid to Gauntlet on September 10th 2022 for the Q4 2022 period. The agreed upon quarterly service fee is USD $200,000. Hence, Venus is issuing this VIP to pay the balance due for the Q4 2022 Service Fee (net of deposit received) for the amount of USD$40,000 and the Payment for Q1 2023 fee for the amount of USD $200,000.
Total to be paid USD$240,000.
Vote: