Operation_setVenusSpeed(address,uint256)_setVenusSpeed(address,uint256)_setVenusSpeed(address,uint256)_setVenusSpeed(address,uint256)_setVenusSpeed(address,uint256)_setVenusSpeed(address,uint256)_setVenusSpeed(address,uint256)_setVenusSpeed(address,uint256)_setVenusSpeed(address,uint256)_setVenusSpeed(address,uint256)
Description
VIP-5 Venus Speed Recalibration 1
Contract Details
vBNB setVenusSpeed Unitroller 1 0xfD36E2c2a6789Db23113685031d7F16329158384 _setVenusSpeed(address,uint256) 0xA07c5b74C9B40447a954e1466938b865b6BBea36 52083333333333300
vBTCB setVenusSpeed Unitroller 2 0xfD36E2c2a6789Db23113685031d7F16329158384 _setVenusSpeed(address,uint256) 0x882C173bC7Ff3b7786CA16dfeD3DFFfb9Ee7847B 52083333333333300
vXVS setVenusSpeed Unitroller 3 0xfD36E2c2a6789Db23113685031d7F16329158384 _setVenusSpeed(address,uint256) 0x151B1e2635A717bcDc836ECd6FbB62B674FE3E1D 52083333333333300
vUSDT setVenusSpeed Unitroller 4 0xfD36E2c2a6789Db23113685031d7F16329158384 _setVenusSpeed(address,uint256) 0xfD5840Cd36d94D7229439859C0112a4185BC0255 21701388888888900
vBUSD setVenusSpeed Unitroller 5 0xfD36E2c2a6789Db23113685031d7F16329158384 _setVenusSpeed(address,uint256) 0x95c78222B3D6e262426483D42CfA53685A67Ab9D 21701388888888900
vUSDC setVenusSpeed Unitroller 6 0xfD36E2c2a6789Db23113685031d7F16329158384 _setVenusSpeed(address,uint256) 0xecA88125a5ADbe82614ffC12D0DB554E2e2867C8 17361111111111100
vSXP setVenusSpeed Unitroller 7 0xfD36E2c2a6789Db23113685031d7F16329158384 _setVenusSpeed(address,uint256) 0x2fF3d0F6990a40261c66E1ff2017aCBc282EB6d0 17494965277777800
vETH setVenusSpeed Unitroller 8 0xfD36E2c2a6789Db23113685031d7F16329158384 _setVenusSpeed(address,uint256) 0xf508fCD89b8bd15579dc79A6827cB4686A3592c8 26041666666666700
vLTC setVenusSpeed Unitroller 9 0xfD36E2c2a6789Db23113685031d7F16329158384 _setVenusSpeed(address,uint256) 0x57A5297F2cB2c0AaC9D554660acd6D385Ab50c6B 1590451388888890
vXRP setVenusSpeed Unitroller 10 0xfD36E2c2a6789Db23113685031d7F16329158384 _setVenusSpeed(address,uint256) 0xB248a295732e0225acd3337607cc01068e3b9c10 1590451388888890
Summary
As Venus Governance, the community now has the power to control XVS distribution across markets after recent proposal (#4). This will allow the protocol to better and more efficiently manage how XVS is used to improve and further the protocol’s interests. Given that the initial XVS distribution numbers were set somewhat arbitrarily, it has become clear that it is worth resetting the parameters based on usage over the last three months. The refreshed numbers proposed will be used for A/B testing optimal XVS emission quantities in future proposals. In a forum, community has put forth reasonable suggestions that we believe would improve upon the existing values. Both of their values for XVS distribution were quite similar and we chose community numbers for three reasons:
- XVS market will be high APY in supply and borrow
- High liquidity markets and stable markets will be set as high XVS rewards community suggested
- Splitting each market’s XVS rewards into a fixed quantity (common to all markets) and a variable quantity makes it easy to analyze improvements in future A/B tests for incentives
| Market | Current Daily XVS | Update Daily XVS |
|---|---|---|
| XVS | 245.11 | 3000 |
| BTC | 4225.73 | 3000 |
| BNB | 3018.8 | 3000 |
| USDT | 1387.51 | 1250 |
| BUSD | 1362.52 | 1250 |
| USDC | 643.39 | 1000 |
| SXP | 51.43 | 1007.71 |
| ETH | 1293.82 | 1500.00 |
| LTC | 46.82 | 91.61 |
| XRP | 30.26 | 91.61 |
Rest markets will be configured with updated rates continuously in VIP-6.
Please read the forum post for more details.