[VPD-687]: VIP to Update Core Pool vslisBNB Market Risk Parameters

[GitGuru7]

VIP-598: [BNB Chain] Risk Parameter Updates, Prime Rewards Allocation, slisBNB Update, and Flux Flash Loan Whitelist

Summary

If passed, this VIP will implement several operational updates on BNB Chain to improve risk management, optimize Prime rewards distribution, enable slisBNB as collateral in the Core Pool, and whitelist the Flux Flash Loan Aggregator to use Venus's native flash loan infrastructure.

Description

This proposal introduces four protocol updates on BNB Chain:

1. Risk Steward Framework Update – Onboard Allez Labs as Risk Steward and update the framework parameters governing risk adjustments.
2. Prime Rewards Allocation (March 2026) – Allocate $22,000 in Prime rewards to USDT suppliers on BNB Chain.
3. slisBNB Core Pool Update – Enable slisBNB as collateral in the Core Pool.
4. Flux Flash Loan Aggregator Whitelist – Allow the Flux aggregator to access Venus's native flash loan contract.

These changes aim to improve operational efficiency, strengthen liquidity incentives, and expand protocol integrations.

Proposed Changes

1. Risk Steward Onboarding

Whitelist Allez Labs as Risk Steward.

• Address: `0xcF2c06dDd24dd92EC35f60Bab9D7f206330e2abE`

Updated Risk Steward parameters:

Parameter	Safe Delta	Debounce	Timelock
Supply Cap	50%	24 hours	6 hours
Borrow Cap	50%	24 hours	6 hours
Collateral Factors	5%	48 hours	6 hours
Interest Rate Model	N/A	72 hours	6 hours

• Safe Delta: the maximum relative change that executes immediately without a timelock. Changes exceeding this threshold are registered on-chain and subject to the timelock period.
• Debounce: the minimum time that must elapse after the last executed update before a new update of the same type can be registered for the same market.
• Timelock: the waiting period between when a non-safe update is registered on-chain and when it becomes eligible for execution by a whitelisted executor.

2. Prime Rewards Allocation — March 2026

• Allocate $22,000 in Prime rewards, distributed to USDT suppliers on BNB Chain
• Above allocation accounts for a 20% reserve buffer to avoid full depletion due to market price fluctuations

3. slisBNB Core Pool Parameter Update

Parameter	Current	Proposed
Collateral Factor	0%	80%
Liquidation Threshold	0%	80%
Liquidation Penalty	0%	10%
Liquidation Incentive	100%	110%

This enables slisBNB as collateral in the Core Pool.

4. Flux Flash Loan Aggregator Whitelist

Whitelist the Flux Flash Loan Aggregator:

• Address: `0xe620726686B480d955E63b9c7c1f93c2f8c1aCf4`

This allows Flux to use Venus's native flash loan contract and removes reliance on external providers charging a 0.05% fee.

Conclusion

If approved, this VIP will:

• Onboard Allez Labs as Risk Steward and update the risk steward framework
• Allocate $22K Prime rewards to USDT suppliers on BNB Chain
• Enable slisBNB as Core Pool collateral
• Whitelist the Flux Flash Loan Aggregator for Venus native flash loans

These updates improve risk operations, liquidity incentives, collateral utility, and protocol integrations on Venus.

[zed-venus]

Review note (non-blocking):

In vips/vip-597/bscmainnet.ts, the parameter table currently states:
Liquidation Incentive (LI): Current 0% -> New 10%.

However, the actual configured value is NEW_LI = 1.1, which corresponds to LI = 110% (or equivalently Liquidation Penalty = 10%).

Suggested wording to avoid confusion:

• Liquidation Incentive: 100% -> 110%, or
• Liquidation Penalty: 0% -> 10%.

Implementation logic looks consistent; this is a description-level clarification only.

[fred-venus]

overall lgtm, added some tests