VIP-325 Configure liquidity mining (BabyDoge) Summary If passed, the last block with

Question

VIP-325 Configure liquidity mining (BabyDoge) Summary If passed, the last block with

rewards for the BabyDoge market on BNB Chain would be set to 39793420, 33 days after the rewards were enabled, approximately, assuming 1 block every 3 seconds. Moreover 9672.98 USDT will be sent to the Community Wallet that will be used to complete the BabyDoge rewards.

Description

Rewards for the BabyDoge market on BNB Chain were enabled at block 38895533 in this transaction (May 20th, 2024 07:18:16 PM +UTC).

The configured rewards were set in the VIP-304, following the community proposal “Isolated Lending Market for BABYDOGE on Venus”:

- 15,726,472,026,491 BabyDoge for 22.5 days (instead of 90 days, as mentioned in the VIP-311), provided by the BabyDoge project. 50% for suppliers, 50% for borrowers. So, the last block with rewards provided by the BabyDoge project was 39543533 (June 12th, 2024)
- Venus Treasury will sponsor the BabyDoge rewards for extra 10.5 days, with a total cost of 6,064,569,313,709 BabyDoge (around $9,672 with the current price, on June 17th 2024)

Venus Treasury doesn’t have enough BabyDoge tokens to fund this sponsorship, so 9,672 USDT will be transferred to the Community Wallet in this VIP. This wallet will swap the received USDT for BabyDoge tokens, and it will send them to the RewardsDistributor contract.

Simulation of the VIP: https://github.com/VenusProtocol/vips/pull/306

Additional details in VIP description.

🗳 https://app.venus.io/#/governance/proposal/325?chainId=56

#blockchain #cryptocurrency #english #venus

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17.06.2024

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Devita | Venus 🇮🇩 · Accepted Answer

Devita | Venus 🇮🇩

Here

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VIP-325 Configure liquidity mining (BabyDoge) Summary If passed, the last block with

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