# GP 3: Enable Bob Swap for Public Use

\
Changes were approved following the security audit and [contracts upgrade to v1.0.0](https://app.gitbook.com/o/-Loxl4rmid_XZStTXG0U/s/-MjSwkv4zokqCUebt-98/bob-stablecoin/bob-governance-and-inventory/protocol-governance/gp-2-upgrade-contracts-to-v1.0.0).

* GP #3
* Timestamp: Jan-11-2023 06:30:54 PM +UTC
* Tx: [0xb29d804f5d2324a458dbbaff2c5da7d5e73c286bf42891f5816b030dfac119bc](https://polygonscan.com/tx/0xb29d804f5d2324a458dbbaff2c5da7d5e73c286bf42891f5816b030dfac119bc)

The transaction included 6 actions categorized in the [proposal breakdown section](https://app.gitbook.com/o/-Loxl4rmid_XZStTXG0U/s/-MjSwkv4zokqCUebt-98/bob-stablecoin/bob-governance-and-inventory/protocol-governance/gp-3-enable-bobvault-bobswap-for-public-use#proposal-breakdown).

### Introduction to Bob Swap (BobVault contract) <a href="#introduction-to-bobvault-bobswap" id="introduction-to-bobvault-bobswap"></a>

Bob Swap [`0x25E6505297b44f4817538fB2d91b88e1cF841B54`](https://polygonscan.com/address/0x25e6505297b44f4817538fb2d91b88e1cf841b54)  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:

1. **price** - amount of collateral with value equal to **1 BOB** (18 decimals)
2. **inFee** - proportional fee for buying BOB with given collateral (18 decimals, 1e18 = 100%)
3. **outFee** - proportional fee for selling BOB for given collateral (18 decimals, 1e18 = 100%)
4. **yield** - optional implementation contract for earning yield through lending markets (e.g. AAVE)
5. **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.
6. **dust** - amount of collateral tokens that cannot be withdrawn as a farmed revenue, designed to account for unexpected rounding errors within the yield protocol and accrued permanent losses (if any).

### Proposal objective <a href="#proposal-objective" id="proposal-objective"></a>

After the completion of the security audit and upgrade of all contracts in the prior governance proposal [Upgrade of BOB Protocol contracts to the release 1.0.0](https://app.gitbook.com/o/-Loxl4rmid_XZStTXG0U/s/-MjSwkv4zokqCUebt-98/bob-stablecoin/bob-governance-and-inventory/protocol-governance/gp-2-upgrade-contracts-to-v1.0.0), 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:**

1. **price** - 1 (6 decimals)
2. **inFee** - 0.01% → 0.008% (18 decimals)
3. **outFee** - 0.01% (18 decimals)
4. **yield** - [`0x59cc168654Dbb7f6874115bf47Ac7312ceCdB6de`](https://polygonscan.com/address/0x59cc168654Dbb7f6874115bf47Ac7312ceCdB6de) - yield earning implementation through AAVE v3 Polygon deployment
5. **buffer** - 100 USDC → 10,000 USDC (6 decimals)
6. **dust** - 0.001 USDC → 1 USDC (6 decimals)


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