GP 5: Enable Bob Swap on Ethereum Mainnet
Last updated
Last updated
The proposal has been confirmed and executed by
See GP#3 for a description of BobVault.
In order to pursue further expansion, increase brand awareness and explore more integration options, we propose to enable BobVault on Ethereum Mainnet.
BobVault deployed on Ethereum Mainnet differs from the original audited version in that it includes more stricter limits for max collateral balance. The diff of changes can be found .
The contract was pre-deployed at on 20.02.23 from commit . The collaterals were configured as described, owner of the BobVault was set to the governance multisig () after configuration. See for verification.
For the purpose of Mainnet deployment, the internal Bob protocol risk-assessment team approved the BOB issuance limit through BobVault to 2,000,000 BOB, alongside with the following collateral configuration:
USDC:
price - 1 (6 decimals)
inFee - 0.001% (18 decimals)
outFee - 0.01% (18 decimals)
yield - address(0)
- yield earning disabled
buffer - 0 USDC (6 decimals)
dust - ****0 USDC (6 decimals)
maxBalance - type(uint128).max
- unrestricted
maxInvested - 0 USDC (6 decimals)
USDT:
price - 1 (6 decimals)
inFee - 0.001% (18 decimals)
outFee - 0.01% (18 decimals)
yield - address(0)
- yield earning disabled
buffer - 0 USDT (6 decimals)
dust - ****0 USDT (6 decimals)
maxBalance - 1,000,000 USDT (6 decimals)
maxInvested - 0 USDT (6 decimals)
DAI:
price - 1 (18 decimals)
inFee - 0.001% (18 decimals)
outFee - 0.01% (18 decimals)
yield - address(0)
- yield earning disabled
buffer - 0 DAI (18 decimals)
dust - ****0 DAI (18 decimals)
maxBalance - 1,000,000 DAI (18 decimals)
maxInvested - 0 DAI (18 decimals)
The main goal behind choosing such parameters - allow BobVault to compete with existing BOB pools on Uniswap. e.g. current slippage for swapping USDC β BOB on Uniswap V3 pool USDC/BOB is 0.001%, for swapping BOB β USDC is 0.019%
Existing configuration parameters for collaterals can be checked by calling the collateral(address)
function in the BobVault contract:
The corresponding transaction in the governance safe is. The transaction contains 1 action:
Allocate 2,000,000 BOB (18 decimals) to the BobVault contract () by generating BOB token inventory. The action is executed by calling mint
on the BOB token contract