SOV-4293: SIP-0082 for Capitalist42 validation

Author: Ubuntu

tasks/sips/args/sipArgs.ts

@@ -467,6 +467,68 @@ const sip0075 = async (hre: HardhatRuntimeEnvironment): Promise<ISipArgument> =>
     };
 };
 
+const sip0082 = async (hre: HardhatRuntimeEnvironment): Promise<ISipArgument> => {
+    const { ethers, deployments } = hre;
+
+    const zeroBaseParamsContract = await deployments.get("LiquityBaseParams");
+    const newBorrowingFeeFloor = ethers.parseEther("0.05");
+    const encodedNewBorrowingFeeFloor = ethers.AbiCoder.defaultAbiCoder().encode(
+        ["uint256"],
+        [newBorrowingFeeFloor]
+    );
+    const title = "SIP-0082: Reduce Zero Origination Fee";
+    const link = "https://forum.sovryn.com/t/sip-0082-reduce-zero-origination-fee-floor-to-5/3211";
+    const summary = "Reduce Zero Origination Fee Floor to 5%";
+    const text = `
+    ## Summary
+
+    If approved, this proposal will reduce ZUSD origination fee floor in the Sovryn Zero protocol from 8% to 5%.
+
+    ## Background
+
+    Around a year ago, the origination fee floor of Zero Protocol was raised to 99% with SIP-0066.
+    Essentially, Bitocracy paused the minting of ZUSD by setting extremely high fees to maintain the DLLR peg.
+    Later, Zero was "reopened" by setting the origination fee to 13% with SIP-0071. 
+    This fee was deliberately set quite high in order to cautiously ramp up the system again and achieve the assumed balance between supply and demand for $DLLR.
+    Later the fee was reduced to 8% with the SIP-0075.
+
+    ## Motivation
+
+    The Zero Protocol is still in the bootstrap period. We should focus on growing the ZUSD/DLLR supply. 
+    The 2% to 5% redemption percentage per month is generally acceptable. 
+    For the past 30 days, there were about 7.2 BTC redemptions (~1.3%), even with fairly volatile BTC price movement. 
+    The level of redemption is generally low. 
+    Given incoming liquidity easing, the condition is perfect for reducing the origination fee. 
+    With a lower origination fee, we will likely see an increase in ZUSD supply and protocol revenue.
+
+    ## Proposed changes
+
+    If approved, the origination fee will fluctuate between 5% and 100%. 
+    
+    The following change will be made to the Zero Protocol base parameters:
+
+    It will update “BORROWING_FEE_FLOOR” from 8% to 5% by calling \`setBorrowingFeeFloor(uint256)\` 
+    on the \`0xf8B04A36c36d5DbD1a9Fe7B74897c609d6A17aa2\` contract 
+    with the encoded data \`0x00000000000000000000000000000000000000000000000000b1a2bc2ec50000\`.
+
+    ## License
+
+    Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
+
+    `;
+    const description: string = `${title}\n${link}\n${summary}\n---\n${text}`;
+    return {
+        args: {
+            targets: [zeroBaseParamsContract.address],
+            values: [0],
+            signatures: ["setBorrowingFeeFloor(uint256)"],
+            data: [encodedNewBorrowingFeeFloor],
+            description: description,
+        },
+        governor: "GovernorOwner",
+    };
+};
+
 const sipSOV3564 = async (hre: HardhatRuntimeEnvironment): Promise<ISipArgument> => {
     const {
         ethers,
@@ -550,6 +612,7 @@ const sipArgs = {
     sip0071,
     sip0075,
     sipSOV3564,
+    sip0082,
 };
 
 export default sipArgs;