UIP010 - Upgrade of Unitus V2 Across Networks

Governance UIP
1

Summary:

This UIP proposes:

  • deploying Unitus V2 across all networks
  • activate SuperCharge Mode on all networks
  • enable Time-Locked Mechanism on all networks

Abstract:

Our community has approved the upgrade from Unitus V1 to V2 on the Base network through DIP006.

Unitus V2 is designed to bring its users to a new era of efficiency and accessibility by introducing the SuperCharged Mode, Segregated Mode, and Time-Locked feature.

  • SuperCharged Mode: SuperCharged Mode is designed to maximize capital efficiency when collateral and borrowed assets are correlated in price. This feature restricts borrowers to borrowing only assets within a specific category of correlated assets. Generally, these assets are derivatives of the same underlying assets, such as stETH and rETH. Other categories include stablecoins pegged to a fiat currency, such as USX or USDC, which are pegged to the USD.
  • Segregation Mode: Segregated Mode allows new assets to be listed on Unitus with customized parameters, including debt ceiling, LTV, liquidation threshold, etc. Users can deposit these assets as collateral to borrow stablecoins. However, borrowers cannot use other assets as collateral when borrowing against collateralized segregated assets.
  • Time-Locked Mechanism: Time-locked is introduced as a proactive approach to secure the Unitus ecosystem. By introducing a delay mechanism for certain transactions, this feature reduces the likelihood of malicious activities, providing users with greater peace of mind when engaging with Unitus protocol.

Motivation:

Unitus V2 has been operating smoothly on the Base network for over three months now, demonstrating its reliability and effectiveness. This success presents an excellent opportunity to expand our reach and introduce Unitus V2 to a broader audience across all networks.

By doing so, we can leverage the positive feedback and performance metrics we’ve gathered to showcase the benefits of Unitus V2 to a diverse set of users. We believe that this expansion will not only enhance our community engagement but also foster greater adoption and collaboration within the ecosystem.

Specification:

Proposed parameters for the SuperCharged Mode on all networks:

1
11536×924 136 KB

2
21542×810 121 KB

3
31534×730 109 KB

4
41534×388 56.3 KB

5
51536×962 141 KB

6
61538×956 130 KB

Proposed parameters for the SuperCharged Mode on all networks:

7
71326×960 107 KB

8
81324×928 99.4 KB

9
91324×234 30.3 KB

  • Enable Time-Locked Mechanism on all networks