From 2334404b919c576ab93f111aad6736e484e78237 Mon Sep 17 00:00:00 2001
From: capitalist42 <capitalist42@protonmail.ch>
Date: Thu, 18 Jul 2024 11:09:03 +0800
Subject: [PATCH] SIP0082 args for script
---
tasks/sips/args/sipArgs.ts | 47 +++++++++++++++++++++++++++++++++++++-
1 file changed, 46 insertions(+), 1 deletion(-)
diff --git a/tasks/sips/args/sipArgs.ts b/tasks/sips/args/sipArgs.ts
index a5d04ae..87b3264 100644
--- a/tasks/sips/args/sipArgs.ts
+++ b/tasks/sips/args/sipArgs.ts
@@ -452,7 +452,6 @@ const sip0075 = async (hre: HardhatRuntimeEnvironment): Promise<ISipArgument> =>
## License
Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
-
`;
const description: string = `${title}\n${link}\n${summary}\n---\n${text}`;
return {
@@ -539,6 +538,51 @@ const sipSOV3564 = async (hre: HardhatRuntimeEnvironment): Promise<ISipArgument>
return args;
};
+const sip0082 = async (hre: HardhatRuntimeEnvironment): Promise<ISipArgument> => {
+ const { ethers, deployments } = hre;
+
+ const zeroBaseParamsContract = await deployments.get("LiquityBaseParams");
+ const newBorrowingFeeFloor = ethers.parseEther("0.05");
+ const encodedNewBorrowingFeeFloor = ethers.AbiCoder.defaultAbiCoder().encode(
+ ["uint256"],
+ [newBorrowingFeeFloor]
+ );
+ const title = "SIP-0082: Reduce Zero Origination Fee Floor to 5%";
+ const link = "https://forum.sovryn.com/t/sip-0082-reduce-zero-origination-fee-floor-to-5";
+ const summary = "Reduce Zero Origination Fee Floor from 8% to 5%";
+ const text = `
+ ## Summary
+
+ If approved, this proposal will reduce the ZUSD origination fee floor in the Sovryn Zero protocol from 8% to 5%.
+
+ ## Motivation
+
+ The Zero Protocol is still in the bootstrap period. We should focus on growing the ZUSD/DLLR supply. The 2% to 5% redemption percentage per month is generally acceptable. For the past 30 days, there were about 7.2 BTC redemptions (~1.3%), even with fairly volatile BTC price movement. The level of redemption is generally low. Given incoming liquidity easing, the condition is perfect for reducing the origination fee. With a lower origination fee, we will likely see an increase in ZUSD supply and protocol revenue.
+
+ ## Proposed Changes
+
+ If approved, the origination fee will fluctuate between 5% and 100%. The following change will be made to the Zero Protocol base parameters:
+
+ It will update "BORROWING_FEE_FLOOR" from 8% to 5% by calling \`setBorrowingFeeFloor(uint256)\` on the \`0xf8B04A36c36d5DbD1a9Fe7B74897c609d6A17aa2\` contract with the encoded data \`0x00000000000000000000000000000000000000000000000000b1a2bc2ec50000\`.
+
+ ## License
+
+ Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
+ `;
+
+ const description: string = `${title}\n${link}\n${summary}\n---\n${text}`;
+ return {
+ args: {
+ targets: [zeroBaseParamsContract.address],
+ values: [0],
+ signatures: ["setBorrowingFeeFloor(uint256)"],
+ data: [encodedNewBorrowingFeeFloor],
+ description: description,
+ },
+ governor: "GovernorOwner",
+ };
+};
+
const sipArgs = {
zeroMyntIntegrationSIP,
zeroFeesUpdate,
@@ -550,6 +594,7 @@ const sipArgs = {
sip0071,
sip0075,
sipSOV3564,
+ sip0082,
};
export default sipArgs;