[VPD-1168] Phase-4 market deprecation VIP-634 and VIP-635#721
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RF to 100%, push-out IRM repoint, and cap/CF gap closures for BNB Core, BNB BTC/DeFi/GameFi/Meme isolated pools, opBNB, Optimism, Unichain and Ethereum Core. Includes the shared market dataset + command generator and reusable pre/post simulation checks. 53 governor ops.
RF to 100%, push-out IRM repoint, cap closures, and the 2 collateral-factor gap closures for BNB LSBNB/LSEth/Stablecoins/Tron, Ethereum Curve+LSEth, Arbitrum, Base and zkSync. 48 governor ops.
fred-venus
reviewed
Jun 17, 2026
fred-venus
reviewed
Jun 17, 2026
fred-venus
reviewed
Jun 17, 2026
fred-venus
reviewed
Jun 17, 2026
fred-venus
reviewed
Jun 17, 2026
| { symbol: "sFRAX", vToken: "0x17142a05fe678e9584FA1d88EfAC1bF181bF7ABe" }, | ||
| { symbol: "EIGEN", vToken: "0x256AdDBe0a387c98f487e44b85c29eb983413c5e" }, | ||
| { symbol: "BAL", vToken: "0x0Ec5488e4F8f319213a14cab188E01fB8517Faa8" }, | ||
| { symbol: "yvUSDC-1", vToken: "0xf87c0a64dc3a8622D6c63265FA29137788163879" }, |
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i think its ok to remove the last 4 as the supply, borrow are in fact already 0
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Confirmed all 4 are empty (totalSupply = 0, totalBorrows = 0) — so RF/IRM on them are no-ops. But they're still isListed = true (block 25336057), so dropping them is the same carve-out we just removed for PLANET/stkBNB
The skipIrm carve-out on PLANET/stkBNB was based on the doc's USD value, but PLANET has 6.45M tokens borrowed at ~4%; remove it so every deprecated market lands on the push-out curve uniformly (stkBNB included for consistency). Add the DOT BNB Core e-mode collateral factor (pool 14) to the gap closure — 55% to 0, liquidation threshold preserved — verified the only such e-mode gap. Simulation checks extended to assert the e-mode CF pre/post state.
fred-venus
previously approved these changes
Jun 17, 2026
fred-venus
changed the title
…5 16.78M gas cap Full 55-cmd propose needs ~17.6M gas, over BSC's per-tx cap (16,777,216); removing yvUSDC/USDT/USDS/WETH-1 brings it to ~16.28M.
…ll governance steps A VIP is stored in a single propose() tx, so it must fit BSC's 2^24 per-tx gas cap — over it the on-chain propose reverts with an empty error and the VIP can't be created, something the sim previously never caught. Add a reportTxGas() helper that logs gasUsed (% of cap) for propose/queue/execute in one format and asserts the cap on propose (the binding, heaviest tx).
VIP-634's propose tx sat at ~95.5% of BSC's per-tx gas cap — too thin a margin against a hard consensus limit. Moving the BNB Meme pool to VIP-635 rebalances both proposals to ~90% (634 90.0%, 635 89.4%), giving each ~10% headroom while keeping every cross-chain message under the 10 KB cap.
…er-Safe execTransaction
The propose() per-tx-cap check enforced the gas a DIRECT EOA propose CONSUMES, but VIPs
are proposed by the proposer Gnosis Safe via execTransaction. Two gaps made the check a
false negative that would green-light an unproposable VIP:
- It asserted gasUsed (consumed), not the required gas LIMIT. EIP-150's 63/64 gas
forwarding reserve compounds across the Safe-proxy/singleton and Governor-proxy call
layers, so the required limit exceeds consumption — a tx can consume under the cap yet
be unprovisionable (propose OOGs at the cap because the limit can't be set high enough).
- It modeled a direct EOA call, missing the Safe wrapper (~1.1M gas: the
SafeMultiSigTransaction log of the full calldata, signature verification, extra 63/64 hops).
reportTxGas now enforces the cap on estimateProposeViaMultisig(): estimateGas of the proposer
Safe's execTransaction(GOVERNOR_PROXY, propose calldata), which folds in the 63/64 reserves,
the event, intrinsic + calldata. checkSignatures is satisfied without private keys by lowering
the Safe threshold to 1 on the fork and using a single v=1 owner-as-sender signature (the
sig-verification delta vs the real threshold is a few thousand gas — immaterial, and well
inside the new within-3%-of-cap warning). queue/execute still report consumed gas. Non-Safe
proposers fall back to direct-propose enforcement.
Verified on a bscmainnet archival fork:
VIP-634 Part 1: requiredGasLimit=16,419,376 (97.86% of cap, warns) vs old direct 91.49%
VIP-635 Part 2: requiredGasLimit=15,797,444 (94.16% of cap)
Co-Authored-By: Claude Opus 4.8 (1M context) <noreply@anthropic.com>
…gas-cap-multisig fix(vip-framework): enforce propose() gas cap against the real proposer-Safe execTransaction
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fred-venus
previously approved these changes
Jun 18, 2026
# Conflicts: # src/vip-framework/index.ts
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VIP-634 & VIP-635: [Multi-Chain] Deprecated and Off-boarded Markets — Parameter Update (Step 1 of 2)
Summary
This proposal sets reserve factors to 100%, repoints interest rate models to a deprecation curve, and zeroes remaining supply/borrow caps and collateral factors across the deprecated and off-boarded markets on BNB Chain, opBNB, Optimism, Unichain, Ethereum, Base, Arbitrum, and zkSync Era. It is Step 1 of a two-step wind-down, executed on-chain as two VIPs — VIP-634 (Part 1 of 2) and VIP-635 (Part 2 of 2) — split only to respect the governor's operation limit and the LayerZero message-size cap.
Description
The markets in scope have already had their collateral factors reduced to zero through prior off-boarding actions, but their reserve factors, interest rate models, and certain residual caps and collateral factors remain misaligned with a wound-down state. This proposal sets reserve factors to 100%, repoints each market to a deprecation interest rate model (a flat 300% borrow APR up to a 45% kink, rising to a 500% maximum at full utilization), and zeroes all remaining non-zero supply/borrow caps and collateral factors.
Actions
Implemented across two on-chain VIPs, VIP-634 and VIP-635 (this PR). Together they perform the following actions across the in-scope chains:
Set reserve factor to 100% — Calls the reserve-factor setter on each in-scope market currently below 100% (
_setReserveFactor(1e18)on Core vTokens;setReserveFactor(1e18)on Isolated-Pool vTokens). Markets already at 100% are unchanged.Repoint to the deprecation IRM — Sets the interest rate model on each in-scope market to the deprecation JumpRateModel (baseRatePerYear = 300%, multiplierPerYear = 0%, kink = 0.45, jumpMultiplierPerYear = 363.64% — flat 300% below the kink, rising to a 500% maximum at full utilization), deployed per chain:
0xc255352947ef3594C45b0Fe8bcB690e51C3D744A0x29d0f5503525df271880CB8Da84651405E545d6b0xbEd8AAf2Ce423428ECeabfbdCdA92D961B7BE9010xDA141Df6D89B83Db101F13C24174C2a3B63089620x00a7e1641077Bd0e70A87cA9b631523E1D4B7A910xf67b35d5201E48960D1262b043A815B3cb8AfAb70x2f58C87418d0F0E87922B4e915E1e968cE79B6F50xDd22bBbCC37d59483b7D42b040d435E1A0ee0E220x1f6e343B528B1374d1370E0F9dE99290AD3a22A9PLANET and stkBNB are skipped (≈$0 borrows).
Zero remaining caps — Sets supply and borrow caps to 0 on the 20 markets with non-zero caps (
setMarketSupplyCaps/setMarketBorrowCapson the respective Comptrollers).Zero remaining collateral factors — Sets the collateral factor to 0 on the two markets still at 5% (BNB Liquid Staked ETH weETH and wstETH), preserving their current liquidation threshold (0.93); no healthy position is liquidated by this proposal.
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