This is your source of info for all things Resupply.

Vist the website:

www.resupply.fi

The Insurance Pool is a user depositable vault that earns reUSD from a share of the borrow fees as well as RSUP governance tokens. All reUSD deposited will be used to insure the protocol from any potential bad debt, as well as used during CDP liquidation events to buy the collateral.

Unstaking Cooldown

Unstaking from the Insurance Pool triggers a 7-day cooldown period. During this time, users won’t receive RSUP tokens or be able to withdraw, but they will continue earning reUSD rewards. Once the cooldown period ends, users can fully withdraw their reUSD.

CDP Liquidations

When a CDP is liquidated, any collateral deposited will be bought by the insurance pool directly using the deposited reUSD and distributed to the insurance pool holders. The reUSD used to purchase the liquidation will be burned. The crvUSD or frxUSD from the liquidation will be distributed to the insurance pool. Since liquidations tap into insurance pool for liquidations there is no need for flash loans or swaps to complete the liquidation. The liquidated collateral is moved to liquidation handler contract which attempts to withdraw all the underlying collateral from the lending pool. If there is not enough liquidity to withdraw all underlying collateral it can be continually attempted until able to be completed.

Bad Debt

In the event bad debt is detected in the system, reUSD deposited in the insurance pool will assume the risk and purchase all bad debt collateral. The reUSD used to purchase the bad debt will be burned. In the event the collateral is forcefully ejected as bad debt, insurance pool holders will need to withdraw the collateral from the lending positions themselves.

In the event the bad debt is larger than what is available in the insurance pool, the protocol will assume the extra bad debt, and the rest of the collateral will be held by the protocol.

Collateralized Debt Positions (CDP) are created by depositing crvUSD or frxUSD into a vault paired against a Curve Lend or Frax Lend lending position.

Collateral Types

All collateral backing for reUSD are stablecoins deposited on Curve Lend or Frax Lend lending positions. All collateral will earn lending fees and any extra rewards, such as CRV. The system will assume that the underlying assests, frxUSD and crvUSD, have a price of one dollar.

crvUSD

crvUSD deposited into a CDP on Resupply will be supplied to a lending position of the user's choice on Curve Lend deposited on Convex Finance. Each lending position will earn the underlying lending fees as well as boosted CRV rewards and any extra rewards.

frxUSD

frxUSD deposited into a CDP on Resupply will be supplied to a lending position of the user's choice on Frax Lend. Each lending position will earn the underlying lending fees.

Minting reUSD

Minting reUSD against each collateral type will have a maximum Loan-To-Value (LTV) set per lending position as set by governance. In addition, governance will also define a possible maximum borrow limit per lending position as deemed necessary.

The minimum amount of reUSD that can be minted against a CDP is 1000 reUSD.

A mint fee for minting reUSD is possible but is currently set to zero. This can be turned on later if deemed necessary.

Borrow Fee Rate

The borrow rate for reUSD will be set at half the underlying lending fee rate, half the "risk-free rate," or two percent, whichever is greater. sfrxUSD's current APY will be used as the oracle to define the "risk-free rate."

Resupply uses a redemption model for maintaining the stability of the reUSD stablecoin. The redemption model only maintains a price floor of $1 minus a small redemption fee, that is configurable by the DAO. If the reUSD depeg were to move upwards, this would be beneficial as it would encourage more borrowing. A 1% fee will be used for redemptions, allocating 0.5% to the borrower and the remaining 0.5% to the protocol. Note: If crvUSD depegs upward and is worth $1.05 instead of $1.00, the redemption fee increases by 5%. The same applies to frxUSD—if it continues to depeg upward, the redemption fee rises by the same percentage as the depeg amount.

Unlike other redemption models Resupply redemption model is communal, affecting not just a single user but the entire lending pool. Redeemer may choose which pools will be redeemed against, but a weighted discount will be used to encourage which pools to redeem against. The longer a pool goes without being redeemed against the greater the discount on said pool.

Redemption Example

Let's assume in this example that 100 reUSD are required to restore the peg and the redemption fee is 1%.

1. Redeemer acquires 100 reUSD from the market and triggers a redemption.

2. Borrowers have $99 worth of collateral removed.

3. The redeemer receives $99 worth of collateral.

4. The borrower's debt has been reduced by 99.5 reUSD. Effectively reducing it by an extra 0.5 reUSD.

5. The resupply protocol receives a fee of 0.5 reUSD.

Resupply governance will be all on chain governance. All contracts on Resupply will be owned by a main core contract with a separate voter contract that is able to execute any transactions as though it is core.

The staking of RSUP tokens is required to participate in governance voting. Unstaking of RSUP tokens is subject to a cooldown period in which no rewards will be given. The staking contract will work on a one week epoch system. New stakers must wait 1 epoch before they are granted voting power.

Resupply Token (RSUP)

• Stake to receive platform fees as reUSD and voting power in Resupply governance

• A withdrawal of RSUP from staking can be initiated at anytime and will have a 14 day delay timer before RSUP can be withdrawn.

• When a withdrawal is initiated RSUP will no longer receive platform fees or retain voting power.

• RSUP will be emitted for voting incentives, insurance pool, and CDPs.

• RSUP will not have a max supply and will instead have a set inflation schedule.

Token Distribution

• No Maximum supply

• Token distribution percentages listed below are a 5 year projection

• 60% of the 5 year emissions will be minted at token generation event.

• Emission inflation will be 2% per year after 5 years

• Sub-DAO allocations to be staked perpetually for voting power and revenue to respective protocols

• 20% Convex protocol sub-DAO Vesting over 5 years

• 10% Yearn protocol sub-DAO Vesting over 5 years

• 0.5% Frax Protocol for use of Fraxlend codebase Vesting over 1 year

• 15% Prisma Burns (including liquid lockers) Vesting over 5 years

• 2% Prisma hack victims who not yet been made whole. Vesting over 2 years

• 2% Team Vesting over 1 year

• 10.5% Treasury Vesting over 5 years

• 12% Emissions year 1

• 10% Emissions year 2

• 8% Emissions year 3

• 6% Emissions year 4

• 4% Emissions year 5 (2% inflation per year thereafter)

RSUP emissions will be directed at three categories: voting incentives, insurance pool, and CDPs. The percentage each category will receive will be adjustable by governance vote. Initially the category allocations will be 50% voting incentives, 25% insurance pool, and 25% CDPs.

Voting Incentives

Voting incentives emissions will be used to direct at various voting platforms to incentivize reUSD and RSUP on-chain liquidity. Voting incentives will be directed at the teams discretion at which liquidity pools will most benefit Resupply.

Borrow Rewards

Emissions directed at borrowers will be directly correlated to the amount of revenue the lending pool generates for the protocol in borrowing fees. The more borrowing fees a lending pool generates the larger the share of the borrower pool of emissions they will receive.

• The protocol will generate revenue in the form of redemption fees and borrow rate fees. All protocol fees will be distributed to RSUP stakers, the insurance pool, and the Resupply Treasury.

• Unstaking RSUP tokens will be subject to a cool down period in which no rewards are granted.

• Fee split will be adjustable by governance vote.

Resupply provides users with a decentralized stablecoin protocol designed to leverage liquidity and stability in lending markets. This platform enables users to supply assets, borrow reUSD, participate in governance, stake RSUP, and claim rewards.

Main Navigation Menu

The top navigation bar provides access to the app’s core functionalities:

• Supply – Deposit crvUSD or frxUSD into lending markets like Curve Lend or Fraxlend and borrow reUSD.

• Claim – Collect earned RSUP and reUSD rewards from various activities within the protocol.

• Governance (Dropdown Menu)

  • RSUP – Stake, unstake, and manage governance tokens.

  • Proposals – View, vote on, and track governance proposals.

• More – Additional platform documents and links to social platforms.

Key Sections of the Resupply

• Users can supply crvUSD or frxUSD into supported lending markets.

• Borrow reUSD against deposited assets.

• View key metrics like interest rates, collateral ratio, and TVL.

• Displays total RSUP and reUSD rewards earned from different activities.

• Users can claim rewards individually or all at once.

• Rewards can come from crvUSD & frxUSD markets or RSUP staking.

• Stake RSUP to earn protocol revenue and gain governance voting power.

• Unstaking requires a 14-day cooldown period.

• Users can track their vote power and total staked RSUP.

• Users stake reUSD to help secure the protocol.

• In return, they earn protocol revenue and RSUP rewards.

• Unstaking requires a 7-day cooldown period.

• Users can view active, passed, failed, and executable proposals.

• Each proposal shows its quorum percentage and voting results.

• Stakers can vote on proposals to influence protocol decisions.

• Users can claim vested RSUP from airdrops.

• Each airdrop has a specific vesting period before fully claimable.

• Includes compensation distributions (e.g., Prisma hack victims).

• Convert Prisma, cvxPRISMA and yPRISMA into vesting RSUP.

• Redemptions follow a 5-year vesting schedule.

You can deposit collateral and borrow reUSD on the “Supply” page of Resupply, you can deposit frxUSD or crvUSD and borrow reUSD while earning the underlying lending market yield. The interface details parameters such as collateral ratio, borrowed amount, and net vAPR.

Key Market Information

• Max Loan-to-Value (LTV)

  • Maximum loan size to users collateral expressed as a percentage.

• Liquidation Fee

  • A liquidation fee is applied if the position falls below the required collateral ratio.

• Maximum Borrow Amount

  • Current borrowing capacity available in the market.

Functionality & User Actions

1. Deposit Collateral / Borrow reUSD

• Deposit additional frxUSD or crvUSD to increase your collateral.

• Borrow more reUSD, with a minimum borrowing limit of 1,000 reUSD.

• The interface includes a "Max" button for quick maximum allocation.

2. Repay reUSD

• Users can repay their borrowed reUSD to reduce outstanding debt and improve their collateral ratio.

3. Withdraw Collateral

• If the user maintains a safe collateral ratio, they can withdraw their collateral deposits.

Market List & Search Functionality:

• Users can browse through different markets and use the search bar to find specific markets as well.

• Sorting options allow filtering by vAPR, total borrowed reUSD, collateral vAPR, and TVL.

Each market displays:

• Borrow vAPR: The interest rate for borrowing reUSD.

• Total Borrowed reUSD: The total amount of reUSD borrowed within the market.

• Collateral vAPR: The yield earned on supplied collateral.

• Total Value Locked (TVL): The total collateral supplied in the market.

Market Selection & Position Management:

• Users can view their active positions in each market under the “My positions” section.

• The “Manage” button enables quick access to deposit, borrow, repay, and withdraw functions for the selected market.

The Repay reUSD functionality allows users to reduce their borrowed amount, thereby improving their collateral ratio and lowering their overall debt exposure. This is particularly useful for maintaining a safe leverage position and avoiding potential liquidation.

Repay reUSD Tab

• Repayment Flexibility:

  • Users can repay a partial amount of their borrowed reUSD or choose to fully repay their debt to close their loan.

  • The interface includes a "Close (repay entirely)" toggle for full repayment.

• User Actions:

  • The "Max" button enables users to repay using all reUSD currently held in wallet.

  • The "Repay" button initiates the repayment transaction.

Key Features of the Insurance Pool

Risk & Reward Mechanism:

• Users stake reUSD to help secure the protocol.

• In exchange, they earn protocol revenue and RSUP tokens.

• Participants accept a portion of the protocol’s risk by providing capital.

• ReUSD may be converted to crvUSD or frxUSD during liquidations.

vAPR Display:

• Displays the current reward rate, indicating how much yield stakers can expect.

How to Stake reUSD

1. Enter the desired amount of reUSD to stake.

2. Click "Approve" to allow the transaction.

3. Once approved, click "Stake" to deposit funds into the Insurance Pool.

4. Users can also click "Max" to stake the entire available balance.

Unstaking & Cooldown Period

• Unstaking is a two-step process:

1. Initiate unstaking triggers a 7-day cooldown.

2. While in cooldown, you won’t receive RSUP tokens or be able to withdraw. However, you will still receive reUSD rewards.

3. After the cooldown period, users can fully withdraw their reUSD.

Users must navigate to the "Unstake" tab to complete the process.

Key Features of the Vesting System

• Airdrop Vesting Periods:

  • Each airdrop has a fixed vesting end date, which is the same for all recipients, regardless of when they claim.

  • Once the vesting period is complete, the full RSUP token amount becomes claimable.

  Custom Recipient Option: Users have the ability to redirect their airdrop claims to a different recipient by toggling the "Use custom recipient" option.

Available Airdrops for Claiming

Team Airdrop

• Distributed to team members as part of the protocol’s incentive structure.

Airdrop to Prisma Hack Victims

• Compensation for users affected by the Prisma hack.

Airdrop to Compensate vePrisma Unlock Penalty

• Issued to users who incurred penalties when unlocking vePrisma.

How to Claim RSUP

Users can click the "Claim" button to receive their allocated RSUP tokens.

Converting PRISMA, cvxPRISMA, and yPRISMA tokens

Features of the Redemption System

• Token Conversion for RSUP tokens:

  • Users can convert PRISMA, cvxPRISMA, and yPRISMA into RSUP tokens.

  • Conversion occurs at a fixed 11.54:1 ratio.

  • Vesting duration: 5 years, meaning RSUP tokens will unlock gradually over this period of time.

• Custom Recipient Option:

  • Users can toggle "Use custom recipient" to send redeemed RSUP tokens to another wallet address.

Redemption Options

Redeem Prisma / cvxPRISMA / yPRISMA tokens

• Users can input a custom amount or use the "Max" button for full redemption.

• The process requires an "Approve" step before finalizing the redemption process.

How to Redeem

1. Enter the desired amount of Prisma, cvxPRISMA or yPRISMA tokens.

2. Click "Approve" to allow token conversion.

3. Once approved, select "Redeem for Vesting RSUP" to initiate the vesting process.

Governance Page

• Proposal Status & Quorum:

  • Each proposal displays:

    • Proposal Number – Unique identifier for each governance decision.

    • Quorum Percentage - The percentage of votes needed to validate a proposal.

    • Proposal Status:

      • Passed – The proposal met quorum and was successfully approved.

      • Failed – The proposal did not meet the required votes.

      • Stale – The proposal did not meet quorum or was not executed.

How to Engage with Proposals

• Users can click on individual proposals to view more details, including start time, end time and voting results.

• Those with staked RSUP tokens can participate in voting to approve or reject governance proposals.

• Total Claimable Rewards:

  • Displays the total accumulated rewards across all platforms:

  • The combined value of claimable rewards is prominently shown.

• One-Click Reward Collection:

  • Users can "Select all" rewards and click "Claim All" to collect all available rewards in a single transaction.

How to Claim Rewards

Individual Claim:

• Users can click the "Claim" button next to each reward source to collect specific rewards.

Claim All:

• Selecting "Claim All" allows users to collect all available rewards from every market and staking pool in one go.

Select All Option:

• Checkboxes allow users to customize their claim, selecting only specific rewards if needed.

RSUP Staking

• Governance Participation:

  • Staked RSUP grants voting power, allowing users to participate in Resupply governance decisions.

• Protocol Revenue Sharing:

  • Staked RSUP will receive a share of protocol generated revenue paid in reUSD.

• vAPR Display:

  • Shows the current staking rewards rate (vAPR).

How to Stake RSUP tokens

• Users can enter a custom amount of RSUP tokens to stake.

• The "Max" button allows staking of the full available balance.

• Once approved, the “Staking” button initiates the staking process.

Unstaking RSUP

• Two-Step Process for Unstaking:

  • Request a cooldown: This initiates a 14-day waiting period before a withdrawal is possible.

  • Withdraw after cooldown: Once the waiting period is over, the user can finalize the unstaking process and retrieve their RSUP tokens.

• Cooldown Mechanism:

  • Once RSUP enters the cooldown state, it is no longer eligible for governance voting or staking rewards.

  • Users cannot enter “cooldown” for RSUP tokens that have been staked during the warm up period until the following epoch (7 days every Thursday 00:00 utc).

How to Unstake

• Users input the RSUP token amount they want to move into “cooldown”.

• The "Max" button allows for full cooldown allocation.

• Clicking "Request Cooldown" initiates the 14-day unstaking process.

Leverage Slider:

• Users can select a leverage level ranging from 2x to 19.1x.

• Higher leverage increases both the borrowed amount and deposited collateral.

Leverage Mechanics:

• When leverage is applied, the system borrows reUSD, swaps it for crvUSD/frxUSD, and deposits it as collateral.

Leverage Breakdown:

• Initial Deposit: The base amount of crvUSD/frxUSD deposited.

• Total Borrowed: The total amount of reUSD borrowed through leverage.

• Total Collateral: The final crvUSD/frxUSD collateral after applying leverage.

• Collateral Ratio: The percentage of collateral relative to borrowed funds.

Slippage Warning:

• Users will be informed about the estimated slippage (e.g., 0.24%) due to reUSD → crvUSD/frxUSD swaps.

• This means that the final collateral amount will be slightly lower due to the conversion rate and trade size.

Approval & Execution Buttons

• Approve: Grants permission for the smart contract to handle crvUSD or frxUSD.

• Deposit & Leverage: Executes the operation, depositing crvUSD or frxUSD and applying the chosen leverage amount.

• The Resupply stablecoin is backed by other stablecoins that are earning interest on other lending markets.

• Designed to maximize yield returns by having the borrow rate always be half the lending rate being earned, half the risk-free rate, or two percent, whichever is greater.

• Emissions are designed for long-term sustainability by directing at three groups: the insurance pool, voting incentives, and directly at borrowers.

• The revenue that borrowers generate will directly correlate with the emissions directed towards them. The more revenue a borrower generates for Resupply, the greater the share of emissions it will receive.

• Targeted platforms for launch are Curve Lend and Fraxlend.

The Resupply treasury will be given 10.5% of the 5 years worth of RSUP supply and will be controlled by the team via multisig. Treasury will also seek to recapture any assets it can from the Prisma Treasury and fee receivers.

How will the treasury be used?

RSUP will be used for awarding or incentivizing actions/tokens/people/platforms that are deemed to have a positive influence on the well being of the Resupply platform.

Who will decided how the treasury will be used?

Currently the use of treasury funds will be at the discretion of the Resupply Team.

Multisig Address

Multisig Members (3 of 4)

• C2tP - Convex Finance

• Winthorpe - Convex Finance

• Wavey - Yearn

• Dudesahn - Yearn

Resupply multisig can perform the following functions

• Control's Resupply Treasury.

• Can pause the protocol in an emergency.

• Collect and distribute voting incentives on votium and yBribes for liquidity pools.

• Control and set Protocol Owned Liquidity position.

Resupply has been built with safety and security in mind. However, there are inherent risks when interacting with any decentralized-finance smart contracts. Our team has vigorously reviewed it's smart contracts, and also pursued external auditors to identify potential vulnerabilities in the platform prior to launch.

Even so, the possibility of losing some or all of your funds is non-zero. Please exercise caution and work within your own risk framework when it comes to interacting with the platform. Please see the Audits page for information on our external security audits. As well as Resupply specific risks, users are also beholden to any risks that pertain to Convex Finance, Curve Finance and Frax Finance, as Resupply integrates directly with them. Please also review their documentation and risk explanations before interfacing with either platform.

Scope: Issues which can lead to substantial loss of money, critical bugs like a broken live-ness condition or irreversible loss of funds.

Disclosure policy:

• Let us know as soon as possible upon discovery of a potential security issue.

• Provide us a reasonable amount of time to resolve the issue before any disclosure to the public or a third-party.

Exclusions:

• Already known vulnerabilities.

• Vulnerabilities in front-end code not leading to smart contract vulnerabilities.

Eligibility:

• You must be the first reporter of the vulnerability

• You must be able to verify a signature from same address

• Provide enough information about the vulnerability

Bounty payout:

Contact:contact@resupply.fi