This proposal covers a few maintenance items on BNB Chain: an adjustment to how the oracles are positioned in the Core Pool, a first step in winding down VAI, and some house cleaning across the Venus Treasury and the Risk Fund.
Background
Each Venus market is priced through the Resilient Oracle, which holds three feeds per asset: a main feed, a pivot feed that cross-checks the main price, and a fallback feed that is used when the main feed is unavailable. In this proposal the Atlas oracle moves into the pivot position on a further set of Core Pool markets, swapping places with the provider currently in that slot. Atlas has been serving those markets reliably from the fallback position, and the change gives the pivot role a more balanced distribution across the providers that cover BNB Chain. The main feed is not touched on any market, and no feed, heartbeat or price bound is modified.
Regarding VAI, Chainlink has informed the team that it will discontinue its VAI feed in the near future, which leaves Atlas as the only price source available for VAI, and this proposal configures VAI accordingly. A stablecoin carried by a single feed, with no second source to cross-check it, raises a concern that Venus does not want to hold open indefinitely, particularly as new VAI issuance has been dormant for some time.
For that reason Venus will begin gradually deprecating VAI, and this proposal is the first step: the XVS rewards distributed to the VAI Vault stop. The vault currently distributes about 65 XVS per day, roughly a 6.5% annual return on the VAI staked in it, and that goes to zero. The vault itself keeps running — staked VAI can be withdrawn at any time, and XVS accrued up to execution remains claimable. The remaining steps will be shared with the community as they are prepared.
The proposal closes with some house cleaning. The Venus Treasury and the Risk Fund both hold small residual balances left over from earlier operations — VAI in the Treasury, and a set of long-tail tokens and liquid staking positions in the Risk Fund. These are converted into USDT so that both contracts hold only their base assets. The amounts involved are small, and no user position is affected.
Summary
If approved, this VIP will:
- Adjust the oracle feeds sequence in the pivot and fallback position on the BNB Chain Core Pool markets, leaving the main feed on every market unchanged.
- Set VAI to be priced by Atlas, which is the price source that remains once Chainlink discontinues its VAI feed.
- Stop the XVS rewards distributed to the VAI Vault, as the first step of a gradual deprecation of VAI, with rewards accrued up to execution still claimable and staked VAI withdrawable at any time.
- House cleaning of the residual tokens in Treasury and Risk Fund.
We welcome community feedback on this proposal ahead of submitting it for a VIP vote.