diff --git a/simulations/vip-536/abi/Beacon.json b/simulations/vip-536/abi/Beacon.json
new file mode 100644
index 000000000..fe7f3e52f
--- /dev/null
+++ b/simulations/vip-536/abi/Beacon.json
@@ -0,0 +1,51 @@
+[
+  {
+    "inputs": [{ "internalType": "address", "name": "implementation_", "type": "address" }],
+    "stateMutability": "nonpayable",
+    "type": "constructor"
+  },
+  {
+    "anonymous": false,
+    "inputs": [
+      { "indexed": true, "internalType": "address", "name": "previousOwner", "type": "address" },
+      { "indexed": true, "internalType": "address", "name": "newOwner", "type": "address" }
+    ],
+    "name": "OwnershipTransferred",
+    "type": "event"
+  },
+  {
+    "anonymous": false,
+    "inputs": [{ "indexed": true, "internalType": "address", "name": "implementation", "type": "address" }],
+    "name": "Upgraded",
+    "type": "event"
+  },
+  {
+    "inputs": [],
+    "name": "implementation",
+    "outputs": [{ "internalType": "address", "name": "", "type": "address" }],
+    "stateMutability": "view",
+    "type": "function"
+  },
+  {
+    "inputs": [],
+    "name": "owner",
+    "outputs": [{ "internalType": "address", "name": "", "type": "address" }],
+    "stateMutability": "view",
+    "type": "function"
+  },
+  { "inputs": [], "name": "renounceOwnership", "outputs": [], "stateMutability": "nonpayable", "type": "function" },
+  {
+    "inputs": [{ "internalType": "address", "name": "newOwner", "type": "address" }],
+    "name": "transferOwnership",
+    "outputs": [],
+    "stateMutability": "nonpayable",
+    "type": "function"
+  },
+  {
+    "inputs": [{ "internalType": "address", "name": "newImplementation", "type": "address" }],
+    "name": "upgradeTo",
+    "outputs": [],
+    "stateMutability": "nonpayable",
+    "type": "function"
+  }
+]
diff --git a/simulations/vip-536/arbitrumone.ts b/simulations/vip-536/arbitrumone.ts
new file mode 100644
index 000000000..ac8b446fe
--- /dev/null
+++ b/simulations/vip-536/arbitrumone.ts
@@ -0,0 +1,40 @@
+import { expect } from "chai";
+import { Contract } from "ethers";
+import { ethers } from "hardhat";
+import { expectEvents } from "src/utils";
+import { forking, testForkedNetworkVipCommands } from "src/vip-framework";
+
+import vip536, {
+  NEW_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM,
+  SINGLE_TOKEN_CONVERTER_BEACON_ARBITRUM,
+} from "../../vips/vip-536/bscmainnet";
+import BEACON_ABI from "./abi/Beacon.json";
+
+const OLD_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM = "0x07801d54906Be49517DfDEd26c89A81fb94e504B";
+
+forking(356227715, async () => {
+  const provider = ethers.provider;
+  let beacon: Contract;
+
+  before(async () => {
+    beacon = new ethers.Contract(SINGLE_TOKEN_CONVERTER_BEACON_ARBITRUM, BEACON_ABI, provider);
+  });
+
+  describe("Pre-VIP behavior", () => {
+    it("SingleTokenConverter should have old implementation", async () => {
+      expect(await beacon.implementation()).to.equal(OLD_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM);
+    });
+  });
+
+  testForkedNetworkVipCommands("VIP-536", await vip536(), {
+    callbackAfterExecution: async (txResponse: any) => {
+      await expectEvents(txResponse, [BEACON_ABI], ["Upgraded"], [1]);
+    },
+  });
+
+  describe("Post-VIP behavior", () => {
+    it("SingleTokenConverter should have new implementation", async () => {
+      expect(await beacon.implementation()).to.equal(NEW_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM);
+    });
+  });
+});
diff --git a/simulations/vip-536/arbitrumsepolia.ts b/simulations/vip-536/arbitrumsepolia.ts
new file mode 100644
index 000000000..6821832cf
--- /dev/null
+++ b/simulations/vip-536/arbitrumsepolia.ts
@@ -0,0 +1,40 @@
+import { expect } from "chai";
+import { Contract } from "ethers";
+import { ethers } from "hardhat";
+import { expectEvents } from "src/utils";
+import { forking, testForkedNetworkVipCommands } from "src/vip-framework";
+
+import vip536, {
+  NEW_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM,
+  SINGLE_TOKEN_CONVERTER_BEACON_ARBITRUM,
+} from "../../vips/vip-536/bsctestnet";
+import BEACON_ABI from "./abi/Beacon.json";
+
+const OLD_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM = "0x4ea44b72e00e942b259a6a3720Cf1B8776b9fe93";
+
+forking(172142261, async () => {
+  const provider = ethers.provider;
+  let beacon: Contract;
+
+  before(async () => {
+    beacon = new ethers.Contract(SINGLE_TOKEN_CONVERTER_BEACON_ARBITRUM, BEACON_ABI, provider);
+  });
+
+  describe("Pre-VIP behavior", () => {
+    it("SingleTokenConverter should have old implementation", async () => {
+      expect(await beacon.implementation()).to.equal(OLD_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM);
+    });
+  });
+
+  testForkedNetworkVipCommands("VIP-536", await vip536(), {
+    callbackAfterExecution: async (txResponse: any) => {
+      await expectEvents(txResponse, [BEACON_ABI], ["Upgraded"], [1]);
+    },
+  });
+
+  describe("Post-VIP behavior", () => {
+    it("SingleTokenConverter should have new implementation", async () => {
+      expect(await beacon.implementation()).to.equal(NEW_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM);
+    });
+  });
+});
diff --git a/simulations/vip-536/bscmainnet.ts b/simulations/vip-536/bscmainnet.ts
new file mode 100644
index 000000000..3cfb132ce
--- /dev/null
+++ b/simulations/vip-536/bscmainnet.ts
@@ -0,0 +1,40 @@
+import { expect } from "chai";
+import { Contract } from "ethers";
+import { ethers } from "hardhat";
+import { expectEvents } from "src/utils";
+import { forking, testVip } from "src/vip-framework";
+
+import vip536, {
+  NEW_SINGLE_TOKEN_CONVERTER_IMP_BSC,
+  SINGLE_TOKEN_CONVERTER_BEACON_BSC,
+} from "../../vips/vip-536/bscmainnet";
+import BEACON_ABI from "./abi/Beacon.json";
+
+const OLD_SINGLE_TOKEN_CONVERTER_IMP_BSC = "0x40ed28180Df01FdeB957224E4A5415704B9D5990";
+
+forking(53537328, async () => {
+  const provider = ethers.provider;
+  let beacon: Contract;
+
+  before(async () => {
+    beacon = new ethers.Contract(SINGLE_TOKEN_CONVERTER_BEACON_BSC, BEACON_ABI, provider);
+  });
+
+  describe("Pre-VIP behavior", () => {
+    it("SingleTokenConverter should have old implementation", async () => {
+      expect(await beacon.implementation()).to.equal(OLD_SINGLE_TOKEN_CONVERTER_IMP_BSC);
+    });
+  });
+
+  testVip("VIP-536", await vip536(), {
+    callbackAfterExecution: async (txResponse: any) => {
+      await expectEvents(txResponse, [BEACON_ABI], ["Upgraded"], [1]);
+    },
+  });
+
+  describe("Post-VIP behavior", () => {
+    it("SingleTokenConverter should have new implementation", async () => {
+      expect(await beacon.implementation()).to.equal(NEW_SINGLE_TOKEN_CONVERTER_IMP_BSC);
+    });
+  });
+});
diff --git a/simulations/vip-536/bsctestnet.ts b/simulations/vip-536/bsctestnet.ts
new file mode 100644
index 000000000..162e08de8
--- /dev/null
+++ b/simulations/vip-536/bsctestnet.ts
@@ -0,0 +1,40 @@
+import { expect } from "chai";
+import { Contract } from "ethers";
+import { ethers } from "hardhat";
+import { expectEvents } from "src/utils";
+import { forking, testVip } from "src/vip-framework";
+
+import vip536, {
+  NEW_SINGLE_TOKEN_CONVERTER_IMP_BSC,
+  SINGLE_TOKEN_CONVERTER_BEACON_BSC,
+} from "../../vips/vip-536/bsctestnet";
+import BEACON_ABI from "./abi/Beacon.json";
+
+const OLD_SINGLE_TOKEN_CONVERTER_IMP_BSC = "0x42Ec3Eb6F23460dFDfa3aE5688f3415CDfE0C6AD";
+
+forking(57758332, async () => {
+  const provider = ethers.provider;
+  let beacon: Contract;
+
+  before(async () => {
+    beacon = new ethers.Contract(SINGLE_TOKEN_CONVERTER_BEACON_BSC, BEACON_ABI, provider);
+  });
+
+  describe("Pre-VIP behavior", () => {
+    it("SingleTokenConverter should have old implementation", async () => {
+      expect(await beacon.implementation()).to.equal(OLD_SINGLE_TOKEN_CONVERTER_IMP_BSC);
+    });
+  });
+
+  testVip("VIP-536", await vip536(), {
+    callbackAfterExecution: async (txResponse: any) => {
+      await expectEvents(txResponse, [BEACON_ABI], ["Upgraded"], [1]);
+    },
+  });
+
+  describe("Post-VIP behavior", () => {
+    it("SingleTokenConverter should have new implementation", async () => {
+      expect(await beacon.implementation()).to.equal(NEW_SINGLE_TOKEN_CONVERTER_IMP_BSC);
+    });
+  });
+});
diff --git a/simulations/vip-536/ethereum.ts b/simulations/vip-536/ethereum.ts
new file mode 100644
index 000000000..1dbfb9ec6
--- /dev/null
+++ b/simulations/vip-536/ethereum.ts
@@ -0,0 +1,40 @@
+import { expect } from "chai";
+import { Contract } from "ethers";
+import { ethers } from "hardhat";
+import { expectEvents } from "src/utils";
+import { forking, testForkedNetworkVipCommands } from "src/vip-framework";
+
+import vip536, {
+  NEW_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM,
+  SINGLE_TOKEN_CONVERTER_BEACON_ETHEREUM,
+} from "../../vips/vip-536/bscmainnet";
+import BEACON_ABI from "./abi/Beacon.json";
+
+const OLD_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM = "0x95de59aD391589603DF33F81B53C4d894D8e5545";
+
+forking(22895432, async () => {
+  const provider = ethers.provider;
+  let beacon: Contract;
+
+  before(async () => {
+    beacon = new ethers.Contract(SINGLE_TOKEN_CONVERTER_BEACON_ETHEREUM, BEACON_ABI, provider);
+  });
+
+  describe("Pre-VIP behavior", () => {
+    it("SingleTokenConverter should have old implementation", async () => {
+      expect(await beacon.implementation()).to.equal(OLD_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM);
+    });
+  });
+
+  testForkedNetworkVipCommands("VIP-536", await vip536(), {
+    callbackAfterExecution: async (txResponse: any) => {
+      await expectEvents(txResponse, [BEACON_ABI], ["Upgraded"], [1]);
+    },
+  });
+
+  describe("Post-VIP behavior", () => {
+    it("RiskFundConverter and SingleTokenConverter should have new implementation", async () => {
+      expect(await beacon.implementation()).to.equal(NEW_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM);
+    });
+  });
+});
diff --git a/simulations/vip-536/sepolia.ts b/simulations/vip-536/sepolia.ts
new file mode 100644
index 000000000..b14020e7d
--- /dev/null
+++ b/simulations/vip-536/sepolia.ts
@@ -0,0 +1,40 @@
+import { expect } from "chai";
+import { Contract } from "ethers";
+import { ethers } from "hardhat";
+import { expectEvents } from "src/utils";
+import { forking, testForkedNetworkVipCommands } from "src/vip-framework";
+
+import vip536, {
+  NEW_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM,
+  SINGLE_TOKEN_CONVERTER_BEACON_ETHEREUM,
+} from "../../vips/vip-536/bsctestnet";
+import BEACON_ABI from "./abi/Beacon.json";
+
+const OLD_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM = "0xb13409Cbf2b3420856DD577AE2FcC4a4Cd6d9F1e";
+
+forking(8733498, async () => {
+  const provider = ethers.provider;
+  let beacon: Contract;
+
+  before(async () => {
+    beacon = new ethers.Contract(SINGLE_TOKEN_CONVERTER_BEACON_ETHEREUM, BEACON_ABI, provider);
+  });
+
+  describe("Pre-VIP behavior", () => {
+    it("SingleTokenConverter should have old implementation", async () => {
+      expect(await beacon.implementation()).to.equal(OLD_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM);
+    });
+  });
+
+  testForkedNetworkVipCommands("VIP-536", await vip536(), {
+    callbackAfterExecution: async (txResponse: any) => {
+      await expectEvents(txResponse, [BEACON_ABI], ["Upgraded"], [1]);
+    },
+  });
+
+  describe("Post-VIP behavior", () => {
+    it("RiskFundConverter and SingleTokenConverter should have new implementation", async () => {
+      expect(await beacon.implementation()).to.equal(NEW_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM);
+    });
+  });
+});
diff --git a/vips/vip-536/bscmainnet.ts b/vips/vip-536/bscmainnet.ts
new file mode 100644
index 000000000..577090f51
--- /dev/null
+++ b/vips/vip-536/bscmainnet.ts
@@ -0,0 +1,47 @@
+import { LzChainId, ProposalType } from "src/types";
+import { makeProposal } from "src/utils";
+
+export const SINGLE_TOKEN_CONVERTER_BEACON_BSC = "0x4c9D57b05B245c40235D720A5f3A592f3DfF11ca";
+export const NEW_SINGLE_TOKEN_CONVERTER_IMP_BSC = "0xF96363e03D175eEcc6A965f117e1497EAe878d29";
+export const SINGLE_TOKEN_CONVERTER_BEACON_ETHEREUM = "0x5C0b5D09388F2BA6441E74D40666C4d96e4527D1";
+export const NEW_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM = "0x560E50dc157E7140C0E5bdF46e586c658C8A066c";
+export const SINGLE_TOKEN_CONVERTER_BEACON_ARBITRUM = "0x993900Ab4ef4092e5B76d4781D09A2732086F0F0";
+export const NEW_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM = "0x2EE413F4e060451CB25AeD5Cdd348F430aa79105";
+
+export const vip536 = () => {
+  const meta = {
+    version: "v2",
+    title: "VIP-3328 upgrades the implementation of token converters",
+    description: `
+        This VIP upgrades the implementation of SingleTokenConverter for bsc, ethereum and arbitrum.`,
+    forDescription: "I agree that Venus Protocol should proceed with this proposal",
+    againstDescription: "I do not think that Venus Protocol should proceed with this proposal",
+    abstainDescription: "I am indifferent to whether Venus Protocol proceeds or not",
+  };
+
+  return makeProposal(
+    [
+      {
+        target: SINGLE_TOKEN_CONVERTER_BEACON_BSC,
+        signature: "upgradeTo(address)",
+        params: [NEW_SINGLE_TOKEN_CONVERTER_IMP_BSC],
+      },
+      {
+        target: SINGLE_TOKEN_CONVERTER_BEACON_ETHEREUM,
+        signature: "upgradeTo(address)",
+        params: [NEW_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM],
+        dstChainId: LzChainId.ethereum,
+      },
+      {
+        target: SINGLE_TOKEN_CONVERTER_BEACON_ARBITRUM,
+        signature: "upgradeTo(address)",
+        params: [NEW_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM],
+        dstChainId: LzChainId.arbitrumone,
+      },
+    ],
+    meta,
+    ProposalType.REGULAR,
+  );
+};
+
+export default vip536;
diff --git a/vips/vip-536/bsctestnet.ts b/vips/vip-536/bsctestnet.ts
new file mode 100644
index 000000000..b6f544920
--- /dev/null
+++ b/vips/vip-536/bsctestnet.ts
@@ -0,0 +1,47 @@
+import { LzChainId, ProposalType } from "src/types";
+import { makeProposal } from "src/utils";
+
+export const SINGLE_TOKEN_CONVERTER_BEACON_BSC = "0xD2410D8B581D37c5B474CD9Ee0C15F02138AC028";
+export const NEW_SINGLE_TOKEN_CONVERTER_IMP_BSC = "0x892A70c9D9f946c0CB2b148f40B95Ba0024e8968";
+export const SINGLE_TOKEN_CONVERTER_BEACON_ETHEREUM = "0xb86e532a5333d413A1c35d86cCdF1484B40219eF";
+export const NEW_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM = "0x04444eAc8811140A3B22814a2203F6908d0708ad";
+export const SINGLE_TOKEN_CONVERTER_BEACON_ARBITRUM = "0xC77D0F75f1e4e3720DA1D2F5D809F439125a2Fd4";
+export const NEW_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM = "0xcf78eB1806660F0D001F786C66f294DADb9F95b0";
+
+export const vip536 = () => {
+  const meta = {
+    version: "v2",
+    title: "VIP-3328 upgrades the implementation of token converters",
+    description: `
+        This VIP upgrades the implementation of SingleTokenConverter on bsc, ethereum and arbitrum.`,
+    forDescription: "I agree that Venus Protocol should proceed with this proposal",
+    againstDescription: "I do not think that Venus Protocol should proceed with this proposal",
+    abstainDescription: "I am indifferent to whether Venus Protocol proceeds or not",
+  };
+
+  return makeProposal(
+    [
+      {
+        target: SINGLE_TOKEN_CONVERTER_BEACON_BSC,
+        signature: "upgradeTo(address)",
+        params: [NEW_SINGLE_TOKEN_CONVERTER_IMP_BSC],
+      },
+      {
+        target: SINGLE_TOKEN_CONVERTER_BEACON_ETHEREUM,
+        signature: "upgradeTo(address)",
+        params: [NEW_SINGLE_TOKEN_CONVERTER_IMP_ETHEREUM],
+        dstChainId: LzChainId.sepolia,
+      },
+      {
+        target: SINGLE_TOKEN_CONVERTER_BEACON_ARBITRUM,
+        signature: "upgradeTo(address)",
+        params: [NEW_SINGLE_TOKEN_CONVERTER_IMP_ARBITRUM],
+        dstChainId: LzChainId.arbitrumsepolia,
+      },
+    ],
+    meta,
+    ProposalType.REGULAR,
+  );
+};
+
+export default vip536;