This proposal covers three separate maintenance actions: sunsetting the eBTC market on Ethereum, resuming lisUSD as collateral on BNB Chain, and whitelisting the bStock backstop liquidator for flash loans on BNB Chain.
Background
The eBTC market on Venus (Ethereum Core) was paused earlier because of thin on-chain liquidity. Following further review, the market has shown very little real usage — only a small residual supply and no outstanding borrows. Given this negligible demand, the decision is to sunset the market. This proposal redeems the remaining protocol position and closes the market to all new activity.
lisUSD on BNB Chain was previously paused as a precaution: reduced on-chain liquidity had raised the risk of price manipulation, a concern flagged by the protocol’s oracle partner.
That coverage has since been restored, so lisUSD can be safely supported again. This proposal resumes it as collateral at a conservative setting, with a tightened supply cap and an updated oracle configuration.
The bStock backstop liquidator is a dedicated account for clearing undercollateralized bStock positions. Flash loans on the Core pool are already live and limited to approved accounts. This proposal whitelists the liquidator so it can repay a bad position, take over the collateral, and sell it within a single transaction, without tying up protocol capital — following the same approach used for an earlier liquidator.
Summary
If approved, this proposal will:
- Sunset the eBTC market on Ethereum by redeeming the protocol’s residual position and setting the supply cap to zero.
- Restore the lisUSD collateral factor to 50% on BNB Chain.
- Set the lisUSD supply cap to a tightened level based on recent supply, down from its previous ceiling.
- Update the lisUSD oracle configuration and Deviation Sentinel to the liquidity pools selected by the oracle partner.
- Whitelist the bStock backstop liquidator for flash loans on BNB Chain.
We welcome community feedback on this proposal ahead of submitting it for a VIP vote.