Summary

Support $wBTC as a deposit asset

Background

According to the rules of community governance: Governance Mechanism - Portal (benddao.xyz)

• Phase 1: Idea or Draft
  • Minimum number of supports: 10 - Pass
  • Discord Idea: https://discord.com/channels/897709643948761148/1186600602814390322
• Phase 2: BendDAO Forum Discord
  • Minimum number of voters: 10 - Pass
  • Forum:  Support $wBTC as a deposit currency - BIP Ideas - BendDAO
• Phase 3: On-chain voting
  • Voting Quorum: Approximately 56M veBEND (10% of the total supply)
  • Pass Rate: Over 70% Approve.
  • The voting will last for 7 days.

Parameters

• Base Interest Rate: 7%
• Slope1: 8%
• Slope2: 100%
• Optimal Utilization Rate: 65%
• Reserve Factor (Admin Fee): 20%
• $BEND Token Incentives: None