GP 3: Enable Bob Swap for Public Use
Last updated
Last updated
Changes were approved following the security audit and .
GP #3
Timestamp: Jan-11-2023 06:30:54 PM +UTC
Tx:
The transaction included 6 actions categorized in the .
Bob Swap is a module for issuing BOB collateralised with other USD-pegged assets. Bob Swap has received substantial testing using USDC and USDT as collaterals along with their passive investments into AAVE. Bob Swap was initially funded for 1,000 BOB for testing purposes. This governance proposal reimburses the testing team with that amount. Each collateral in BobSwap includes the following dynamic parameters:
price - amount of collateral with value equal to 1 BOB (18 decimals)
inFee - proportional fee for buying BOB with given collateral (18 decimals, 1e18 = 100%)
outFee - proportional fee for selling BOB for given collateral (18 decimals, 1e18 = 100%)
yield - optional implementation contract for earning yield through lending markets (e.g. AAVE)
buffer - amount of buffer for collateral tokens to be kept outside of yield-earning market. This reduces the frequency of deposit/withdraw operations and lowers expected value of the swap transaction gas fee.
dust - amount of collateral tokens that cannot be withdrawn as a farmed revenue, designed to account for unexpected rounding errors within the yield protocol and accrued permanent losses (if any).
After the completion of the security audit and upgrade of all contracts in the prior governance proposal , the Bob protocol management team approved an increase of the BOB issuance limits through Bob Swap to 1,000,000 BOB, along with the following collateral configuration:USDC:
price - 1 (6 decimals)
inFee - 0.01% β 0.008% (18 decimals)
outFee - 0.01% (18 decimals)
yield - - yield earning implementation through AAVE v3 Polygon deployment
buffer - 100 USDC β 10,000 USDC (6 decimals)
dust - 0.001 USDC β 1 USDC (6 decimals)