XVS Bridge Limits Increase Recommendation

Venus Governance Venus - Governance Discussions
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Overview

Chaos Labs provides risk parameter recommendations for increasing the MaxDailyLimit and MaxSingleTransactionLimit in the XVS Bridge.

Motivation

Despite the XVS Bridge being active for several months, the bridging of XVS tokens from BNB Chain to Ethereum Mainnet has seen minimal activity, resulting in only 10K XVS on Ethereum mainnet to date. With the upcoming emissions plan, incentivizing bridging XVS tokens to Ethereum mainnet becomes crucial for growth.

Daily Limit

We propose increasing the MaxDailyLimit to $1M, below 10% of the average daily trading volume of XVS over the past year, to mitigate extreme liquidity shocks while posing no significant financial risks.

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Max Single Transaction Limit

The current max single transaction limit of $10K on the XVS Bridge imposes high transaction fees on Ethereum, exceeding 1% of the transferred amount. To alleviate this cost burden and enable users to bridge XVS tokens more affordably while benefiting from vault emissions on Ethereum, we propose increasing the XVS Bridge MaxSingleTransactionLimit to $100,000.

Mint Limit

Currently set at $7.5M, the Mint Limit for XVS on Ethereum mainnet reflects the low liquidity on the network. We recommend revising this limit upwards once bridging activity gains momentum. Continuous monitoring of user activity will inform adjustments to this limit to align with the evolving demand.

Recommendations

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6 Likes
2

Everyone wants the limit to be increased, let’s do it!

3

Yep i like it this will help users to save some GAS fees and motivate them to jump into Ethereum :slight_smile: as we know already ETH fees starting to go crazy again :smile:

1 Like
4

I absolutely agree. user-friendliness should come first

5

There is no other way than to implement that change ASAP, fees are really high, we need to let people bridge it as cheap as possible

6

The increase of limits is essential for the growth and greater use of the tool Bridge. We will soon have more incentive in the ETH network :dizzy:

7

Thanks to clear this one… 10k wasnt enought… this is the way!!!

8

I agree with this recommendation.

9

We need it! Team send the proposal asap!!