Summary
This is a proposal for creating a new liquidity market to support the DAI stablecoin token for lending and borrowing on the Liqwid protocol.
*DAI will not be enabled as collateral (all risk parameters set to 0) to mitigate bridge risk security concerns.
Project and Token Overview
DAI is now supported through the Wanchain Cardano. (More information on how the bridge operates can be found here: https://docs.wanchain.org/wallet-and-tools/wanbridge).
DAI Market Reasoning
DAI is the 3rd largest stablecoin after USDT and USDC with a circulating supply of $5.46b. Source: https://defillama.com/stablecoins
Interest rate market parameters:
BaseRate: 2.00%
RateNormal: 4.00%
RateJump: 400%
Kink: 65.00%
The market params and resulting interest rate curve will be the same as the standard stablecoin parameters (e.g. iUSD, USDC, USDT).
Income Factor: 20.00% (80% of the interests paid by the borrowers are given to the suppliers).
The remaining part is split as follows:
Reserve Factor: 10.00%
DAO Factor: 0.00%
LQ stakers: 10.00%
Do you support a DAI market on Liqwid v1?
- Yes
- No
0 voters