This proposal creates a Fixed Rate Vault on BNB Chain funding a 1,000,000 USDT loan to Solv over a 30-day term at a 4.2% supplier APY, collateralized by BTCB held in custody with Ceffu. The collateral is represented on-chain by vceBTC (“Ceffu Custody BTC for Venus”), a governance-controlled token priced identically to BTCB, which this proposal also onboards.
Details
- Supply asset — USDT, up to 1,000,000
- Supplier APY — 4.2% fixed for the term
- Open / lock / settlement — 7 days / 30 days / 3 days
- Collateral — BTCB in Ceffu custody, represented on-chain by vceBTC
- LTV — 73%
- Liquidation threshold — 90%
The vault opens for a 7-day funding window, during which suppliers deposit USDT and receive a vault token recording what they put in. The rate is fixed for the whole 30-day term and interest accrues to suppliers for the full period. During the 3-day settlement window the borrower repays principal and interest, suppliers hand the token back to withdraw their deposit plus interest, and the collateral is released.
Each loan is isolated in its own vault and cannot draw on Core Pool liquidity. A margin call precedes liquidation, at which the borrower is required to post additional collateral within an agreed cure window.
We welcome community feedback on this proposal.