Executive summary
In this proposal, we suggest reducing the validators_exit_queued_assets_bps parameter in the Oracles config from 1% of TVL currently to 0.1% of TVL, in order for the Oracles to respond to exit requests more rapidly and facilitate withdrawals from Vaults sooner.
Motivation
Ladies and gentlemen, we ask for your attention once again with this proposal to recalibrate the Oracle config for validator exits.
In essence, StakeWise Oracles have a set of parameters related to when to launch and exit validators, and today we’d like to propose tweaking the validators_exit_queued_assets_bps parameter. This parameter is used by the Oracles to understand when a Vault needs to have some validators exited in order to support the unstaking requests collected in the unstaking queue.
If the amount of assets in the queue as share of the Vault TVL exceeds the validators_exit_queued_assets_bps, some validators are exited to support the unstaking requests. It is currently set to 1% of TVL, which creates delays in the unstaking process for the majority of Vaults.
In this proposal, we suggest reducing this parameter from 1% of TVL currently to 0.1% of TVL, in order for the Oracles to respond to exit requests more rapidly.
Implementation
Set validators_exit_queued_assets_bps to 0.1%.
Vote
Link to the Snapshot vote: Snapshot