Executed

Collect Liquidity Layer Revenue, Migrate sUSDai Vault Oracles, Rebalance PST Vault 169, Set reUSD Launch Limits, and Raise PST/USDC + PST/USDT Max Borrow


Proposal ID

136

Proposed

Jul 16th, 2026

Result details
Final Votes

Quorum

4.36M of 4M

Majority support

Yes

For

4.36M

Against

0

Abstain

0

Actions

Type

Address

Details

Custom

0x2386...1F4c

executePayload(..)

Custom

Account

0x2386...1F4c

Method

executePayload(..)

Proposal

Summary

This proposal:

  1. Collects the Liquidity Layer revenue for every token accruing >$5k (USDC, USDT, ETH, GHO, weETH) into the Fluid Reserve and forwards it to Team Multisig (0x4F6F977aCDD1177DCD81aB83074855EcB9C2D49e) to clear the remaining residual (Resolv-related) debt.
  2. Migrates the 8 live sUSDai vault oracles (vaults 171–173, 175–179) to newly deployed oracles referencing CappedRateChainlink_SUSDAI (0xC5D27C5d356479b681328351F1583c63051E76a0, DF nonce 258) and re-points the sUSDai-USDC (DEX 46) and sUSDai-USDT (DEX 48) center prices to the same capped rate.
  3. Rebalances the supply-side drift on the PST T4 vault 169 from the Reserve.
  4. Raises reUSD vault 170 (T4) and vault 181 (T3) from dust limits (IGP-135) to launch limits and removes Team Multisig auth on both.
  5. Raises the PST / USDC (165) and PST / USDT (166) T1 vault max borrow limits to $15.1M (from $10M).

Code Changes

Action 1: Collect Liquidity Layer Revenue and Forward to Team Multisig for Residual Debt Repayment

  • LIQUIDITY.collectRevenue into the Reserve (0x264786EF916af64a1DB19F513F24a3681734ce92) for the tokens accruing >$5k: USDC, USDT, ETH, GHO, and weETH. Tokens below $5k (wstETH, USDe) are excluded.
  • withdrawFunds forwards each balance minus operational dust (-10 for 6-decimal tokens, -0.1 ether for 18-decimal and native ETH) to Team Multisig toward repayment of the residual (Resolv-related) debt, reason "REVENUE COLLECTION". USDC retains 3,400 in the Reserve to self-fund the Action 3 rebalance's USDC leg.

Action 2: Migrate sUSDai Vault Oracles to the Capped Chainlink Rate

Eight updateOracle calls — T1 vaults by address, T2/T3/T4 by DeployerFactory nonce. Each new oracle's rates are sanity-checked on-chain during the update; max operate-rate delta vs the current oracles is <0.01%.

vaultIdTypeMarketArgumentNew oracle (DF nonce)
171T1sUSDai / USDCaddress 0x08E954EfD116563894dec499EFF1Ed34F4B1Ef4eGenericOracle_SUSDAI_USDC (259)
172T1sUSDai / USDTaddress 0xcDC110DCE4A65c15F613D37D99450dbbC853eA72GenericOracle_SUSDAI_USDT (260)
179T1sUSDai / GHOaddress 0x0327cBbBFd3BfF6F32EB0A832F00c7B382b863B4GenericOracle_SUSDAI_GHO (261)
178T2sUSDai-USDC / USDCnonce 262DexSmartColPegOracle_SUSDAI-USDC_USDC (262)
177T2sUSDai-USDT / USDTnonce 263DexSmartColPegOracle_SUSDAI-USDT_USDT (263)
173T3sUSDai / USDC-USDTnonce 264DexSmartDebtPegOracle_SUSDAI_USDC-USDT (264)
175T4sUSDai-USDC / USDC-USDTnonce 265DexSmartDebtPegOracle_T4_SUSDAI-USDC_USDC-USDT (265)
176T4sUSDai-USDT / USDC-USDTnonce 266DexSmartDebtPegOracle_T4_SUSDAI-USDT_USDC-USDT (266)

Center prices for DEX 46 (0xA2E3A4e2A08b5714FA974Ce88466D736BD8b39d9) and DEX 48 (0xb9b87A1B79891A8C9251F501B1b5d71bC7c8aA24) move from the current contract (DF nonce 248) to the capped rate (258) with a 1% / 2 days bound (IGP-105 pattern); the near-identical new value completes the shift well within the cap. DEX 47 (USDai-USDC) does not track the sUSDai rate and is left unchanged.

Action 3: Rebalance PST T4 Vault (169) Supply Drift from the Reserve

Vault 169 (smart col Dex_PST_USDC / smart debt Dex_USDC_USDT, 0x04F461756D3799Bfa05f1a367c41FaBa09743791) has drifted above its Liquidity-layer supply position (supply rewards). Flow (IGP-131 pattern):

  1. Approve the vault to pull 2,400 PST + 3,400 USDC from the Reserve.
  2. Temporarily allow-list the Timelock as rebalancer and run rebalanceDexVaults on vault 169 — the supply drift is deposited back into the collateral DEX (bounded by the approvals and the vault's own share drift), and any positive smart-debt drift (USDC/USDT) flows into the Reserve — then remove the allow-list entry.
  3. Revoke the leftover PST + USDC allowance.

Action 4: reUSD DEX 44 + Vaults 170 + 181 Launch Limits + Remove Team MS Auth

Raises the reUSD market from dust limits (IGP-135) to launch limits. Vault risk params (CF 87% / LT 90% / LML 93% / LP 3.5%) and the DEX 44 fee (2 bps), range (0.3% symmetric) and Team MS auth are already set via MS1.

MarketChange
DEX 44 (reUSD-USDT, smart col)Max supply shares → 12.1M (~$24M @ ~$1.98/share; from ~6M on-chain); $10M base withdrawal per token (reUSD + USDT)
Vault 170 (T4 reUSD-USDT / USDC-USDT, 0x18aEcd810742a6aE160F4C641fBbb14f15b7ED55)Col: ~$8M base withdrawal (4M DEX 44 shares), 35% / 6h. Debt: ~$5M / ~$10M base/max borrow (2.5M / 5M DEX 2 shares), 30% / 6h. Team MS auth removed
Vault 181 (T3 reUSD / GHO-USDC, 0x1e3a423bBD2820B08a7Dca2E5D683C143BB11c53)Supply: $8M REUSD base withdrawal, 35% / 6h. Debt: ~$5M / ~$10M base/max borrow (2.5M / 5M DEX 4 shares), 30% / 6h. Team MS auth removed

GHO-USDC DEX (id 4) max borrow shares (~21.6M) already cover the vault's $10M borrow cap; no DEX-level cap change needed.

Action 5: Raise PST / USDC (165) + PST / USDT (166) Max Borrow to $15.1M

Both markets were launched in IGP-131 at $8M withdraw / $5M base borrow / $10M max borrow (TYPE_1, 50% / 6h borrow expansion). This action raises only the max debt ceiling to $15.1M; the base borrow limit ($5M), withdrawal limit ($8M) and expansion (50% / 6h) are unchanged.

MarketIdTypeChange
PST / USDC165TYPE_1Max borrow $10M → $15.1M (USDC LL)
PST / USDT166TYPE_1Max borrow $10M → $15.1M (USDT LL)

Conclusion

IGP-136 collects the >$5k Liquidity Layer revenue (USDC, USDT, ETH, GHO, weETH) into the Fluid Reserve and forwards it to Team Multisig to clear the remaining residual (Resolv-related) debt, migrates the 8 sUSDai vault oracles and the DEX 46/48 center prices to CappedRateChainlink_SUSDAI, rebalances the PST T4 vault (169) supply drift from the Reserve, raises reUSD vaults 170 and 181 to launch limits with Team Multisig auth removed, and raises the PST/USDC (165) and PST/USDT (166) max borrow limits to $15.1M.

Final Votes

Quorum

4.36M of 4M

Majority support

Yes

For

4.36M

Against

0

Abstain

0

Final Votes
Status

Thu Jul 16, 05:38 pm

Published onchain

Fri Jul 17, 05:42 pm

Voting period started

Sun Jul 19, 05:53 pm

Voting period ended

Sun Jul 19, 06:10 pm

Proposal queued

Tue Jul 21, 05:03 pm

Proposal executed