Skip to content

Latest commit

 

History

History
31 lines (22 loc) · 1.21 KB

SIP-0060.md

File metadata and controls

31 lines (22 loc) · 1.21 KB
Raw
SIP Title Author Status Track Created
0060
Add DLLR as collateral for borrowing
John Light (@john-light), Ororo Monroe (@ororopickpocket)
Approved
Parameter
2023-04-06

SIP-0060: Add DLLR as collateral for borrowing

Description

If approved, this proposal would enable DLLR holders to use their DLLR as collateral when borrowing using Sovryn.

Motivation

Adding DLLR as a collateral asset for borrowing would give DLLR holders a way to short any supported asset using DLLR as collateral instead of either a less liquid stablecoin such as DOC or a less transparent stablecoin such as XUSD.

A 150% collateralization ratio is proposed due to DLLR’s position as the most liquid pool on the Sovryn AMM. This is at par with the 150% collateralization required when using DOC or XUSD as collateral.

Proposed change

Add DLLR as system-wide collateral for borrowing supported assets on Sovryn, with the following parameters:

  • DLLR token contract address: 0xc1411567D2670E24D9c4Daaa7CdA95686E1250Aa
  • Collateralization rate: 150%
  • Oracle: Constant value oracle
  • Supported assets: RBTC, BPRO

License

Copyright and related rights waived via CC0.