BIP#73 Adjusting All NFT collection LTV

Voting ended 12 months agoSucceeded

Summary

Phase 1: Based on the current status of the protocol, due to the insufficient liquidity, we recommend temporarily adjusting the LTV of all NFTs to 0%, which will help gradually stabilize liquidity, especially for existing lenders and borrowers in the protocol.

This adjusting won't impact existing borrowers at all. We need to protect our current lenders and borrowers. Any new liquidity that is put into the protocol, should be available to be withdrawn first by existing lenders. Adjusting the LTV will do that.

The LTVs will be reviewed weekly and increase to appropriate value, according to protocol running status. Considering liquidity in the pool and performance of blue-chip assets over the past month, adjusting the LTV would enhance protocol risk management. The primary goal is to ensure the protocol remains aligned with current market conditions.

Phase 2: According to community feedback, as the liquidity crisis eases, new lending can be started appropriately, and the LTV should be adjusted as follows: Azuki, Koda, Wrapped Koda, CloneX : 0%; WPUNKS, BAYC, MAYC, PPG, MiLady, Doodles, Moonbirds LTV : 30%;