This proposal lists SK Hynix (SKHYB), a tokenized-equity asset, as a new single market in the Venus Core Pool. It follows the same framework used for the TSLAB / NVDAB / SPCXB listings, with borrowing disabled at launch and Oracle Dynamic Protection Mode enabled from day one.
Background
SKHYB is a tokenized representation of SK Hynix equity, priced on-chain via the Atlas SKHYB/USD feed. As with the previously listed tokenized equities, the market is deployed in supply-only mode: a user can supply SKHYB as collateral, but borrowing of SKHYB is disabled (borrow cap 0). This keeps the protocol’s exposure conservative while the market builds liquidity.
Because tokenized-equity feeds can print sharp, short-lived deviations (market open/close gaps, thin off-hours liquidity), the market ships with Oracle Dynamic Protection Mode (DeviationBoundedOracle). This bounds how far the reported price can move in a single step, so a single bad print cannot instantly re-price collateral and cause unfair liquidations or bad debt.
Details
Market parameters at launch:
| Parameter | Value |
|---|---|
| Collateral Factor | 50% |
| Liquidation Threshold | 65% |
| Liquidation Incentive | 10% |
| Reserve Factor | 10% |
| Supply Cap | 1,250 SKHYB |
| Borrow | Disabled (cap 0) |
Oracle Dynamic Protection Mode — worked example. The protection triggers at a 16.67% deviation. If the last accepted price is $100 and the Atlas feed suddenly reports $130 (a 30% jump), the oracle does not accept $130 outright — the move exceeds the 16.67% band, so protection activates and the price is bounded rather than passed straight through. The feed then converges back in 5% steps, with a 3,600-second cooldown between adjustments, until it re-aligns with the true market price. This absorbs transient bad prints while still tracking genuine price movement over time.
To bootstrap the market, 0.65 SKHYB is withdrawn from the Venus Treasury and supplied; a small portion of the resulting vSKHYB (0.065) is burned to protect against the known empty-market exchange-rate edge case, with the remainder returned to the Treasury.
Summary
If approved, this proposal will:
- List SKHYB as a new supply-only market in the Venus Core Pool (borrowing disabled)
- Enable Oracle Dynamic Protection Mode on the SKHYB price feed
- Seed the market with bootstrap liquidity from the Venus Treasury
We welcome community feedback on this proposal ahead of submitting it for a VIP vote.