[Omni] Listing ADA on BNB Chain

Info

Authors:0x084B...91FA

Date Created: 2024-11-11

Summary

Following the approval of our proposal, we are launching the ADA market on BNB Chain for deposit purpose.

Motivation

• Expand our audience and liquidity by adding a high circulating token.
• Enhance platform versatility by offering a new collateral option.

Specifications / Proposal Details

• ADA has been a long sustainable assets on BNB Chain with great amount of market cap (>$272M) and holders (>580k).
• ADA price has surged 80.26% in the past 7 days.
• Risk assessments categorize assets into low, medium, and high-risk categories, determining borrowing eligibility and collateral usage.
  • Medium Risk: ADA
• Management parameters like Collateral Factor, Borrow Factor, and liquidation metrics are specified for the asset.

Scope of Work

• Integrate oracle-provided price data to add assets to the Omni platform.
• Update platform documentation to accurately reflect the expanded asset listings.

Timeline

Completion expected within 1-2 weeks post-approval.

Budget and Financials

No funding requested from the DAO for this proposal.

Vote

Single voting with options: “Yes,” “No,” and “Abstain.”