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BB-FUSE-01: Add FEI for Borrowing

Voting ended over 4 years agoSucceeded

Note: We should probably come together on standardizing a listing process for our Fuse pool. I'm going off of how other lending protocols do it, but perhaps there's a way to innovate here

This vote is to add the FEI stablecoin as an asset to the BarnBridge Fuse lending market.

The topic has been discussed both on the forum and the Discord's governance channel.

  • https://forum.barnbridge.com/t/adding-fei-as-collateral-in-our-fuse-pool/439/5

FEI would be added with 0 LTV to begin with, allowing users to borrow it but precluding any of its depositors from receiving borrowing power for it for now. As we've all learned by now, this is standard practice for adding new (exogenous) assets to lending markets.

The FEI team has signaled that they will deposit up to $1M in FEI into the pool, should we move ahead with adding it as an asset. This could be critical in unlocking utility for the jTokens we're planning on adding once they have secondary liquidity. A user could borrow against their jToken and go use it elsewhere, or re-enter into another jToken, looping the process multiple times over.

  • https://signal.barnbridge.com/#/barnbridge.eth/proposal/QmQdQN53hqVscGw4hKFJUxmVoY9UjauQnsT5rHgEkPcupS

If you have any concerns, please share them in either the Discord or the Forum.

Off-Chain Vote

Yes
127.47K 97.9%
No
2.67K 2.1%
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Timeline

Aug 15, 2021Proposal created
Aug 15, 2021Proposal vote started
Aug 18, 2021Proposal vote ended
Oct 26, 2023Proposal updated