This BIP is proposed to adjust ETH & USDT pool’s interest rate parameters based on current market conditions.
New Proposed Parameters
ETH Pool
- baseRate: 12.00%, keep current value no changes.
- slope1: 16.00%, keep current value no changes.
- slope2: 200.00%, keep current value no changes.
- optimalUtilizationRate: From 65% to 90%.
This change means that interest rates will increase more gradually as utilization rate rises, avoiding sharp rate hikes that could deter borrowing.
New Interest Rates Table:
USDT Pool
- baseRate: 7.00%, keep current value no changes
- slope1: 8.00%, keep current value no changes
- slope2: 100.00%, keep current value no changes
- optimalUtilizationRate: From 65% to 90%
This change means that interest rates will increase more gradually as utilization rate rises, avoiding sharp rate hikes that could deter borrowing.
New Interest Rates Table:
On-chain voting
Voting Quorum: Approximately 53M veBEND (10% of the total supply)
Pass Rate: Over 70% Approve.
The voting will last for 3 days.