Happy to know that my idea for separating borrow limits from collateral limits has been kept in review, I think it will be the ideal move going forward keeping in mind the low market caps of XVS & SXP.
Going Forward:
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VIP-29’s implementation needs to be aligned with the community. I understand that Binance ecosystem members are conducting this process now, but there are some pressing concerns from long-time users and XVS holders about the implementation time-frame within this discussion forum. I urge you to review them and make VIP-29 an open-ended road to recovery whereby XVS holders have a say in the minting and dilution of the very token they hold.
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I know that although JL is not a part of the Venus team anymore, but he mentioned that those who got liquidated on XVS & SXP on 17/18 May will be compensated. I understand that VIP-29 is important to improve the collateral situation of the platform, but investor confidence is even more important. The damage caused by the platform manipulation on 17 May is not only limited to the underwater wallets, but also to the huge amounts of losses faced by the community members who helped bring Venus to where it is today. It is important to restore this faith in the protocol, there are enough funds in reserves/treasury to deal with this, and new tokens can also be minted to compensate the losses