[Proposal] Decommission the Ethena Isolated Pool on Ethereum and Explore USDe and sUSDe Integration in the Core Pool

Proposals
1

Summary

After reviewing the status of the Ethena isolated pool on Ethereum, it’s clear that it currently serves no active function. Their is Only 1 supplier across the four markets, and the Pendle assets reached maturity last month.

This proposal aims to clean up inactive components of the protocol and allow users to reallocate resources more effectively. Additionally, it opens the door for a potential new opportunity: introducing USDe and sUSDe into the Venus Core Pool, subject to Chaos Labs’ risk recommendations.

Proposal Objectives

  • Remove inactive markets from the Ethena isolated pool and deprecate the pool
  • Explore adding USDe and sUSDe markets to the Core Pool, pending Chaos Labs review

Details

1. Current State of the Ethena Pool

  • View the pool: Ethena Pool on Ethereum
  • No new suppliers or borrowers since deployed
  • Their is only one active participant in that pool
  • Pendle markets have matured and expired

2. Proposed Actions

  • Supplier withdraws funds supplied in this pool
  • Decommission all four markets and the Ethena IL pool
  • Coordinate with Chaos Labs to evaluate the risk profile of USDe and sUSDe
    • If approved, launch a Snapshot vote for its inclusion in the Core Pool

Why This Matters

  • Protocol Efficiency: Reduces clutter and minimizes inactive smart contracts
  • Potential Growth: USDe and sUSDe could bring new utility, liquidity, and composability to Venus on ETH Mainnet, pending risk review

Next Steps

  1. Gather feedback from the community here on the forum
  2. Request a risk assessment from Chaos Labs for USDe and sUSDe
  3. Draft a Snapshot proposal based on community and Chaos Labs input
  4. Supplier executes funds withdrawal and markets are removed if approved

Your Input is Needed

Points of discussion:

  • Are you in favor of decommissioning the inactive Ethena markets?
  • Would you support the addition of USDe and sUSDe to the Core Pool, assuming a green light from Chaos Labs?
  • Any concerns or alternative suggestions?

Please comment/reply below :arrow_down:

2 Likes
2

I agree to close the ethena isolation pool and introduce USDe and sUSDe into the core pool (Ethereum), because ethena assets are very potential assets and can bring rich returns to Venus.

3

100% Agree! GO GO GO, Let’s quickly implement the introduction of USDe and sUSDe into the core pool

4

I like this approach. Venus is a cutting edge defi player that not only proves efficiency on loans and borrowings, but also demonstrates advanced solutions for adding popular and liquid assets. fully support Danny’s suggestion!

5

Let’s add them in the core pool. Thx