[Omni] Listing DOT on BNB Chain

Info

Authors: 0x094B...91FA

Date Created: 2024-10-09

Summary

Following the approval of our proposal, we are launching the DOT market on BNB Chain for deposit and borrowing purposes.

Motivation

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

Specifications / Proposal Details

• To capitalize on the strong liquidity available on the BNB Chain, we're recommending the addition of DOT to Omni for even greater market flexibility.
• Risk assessments categorize assets into low, medium, and high risk categories, determining borrowing eligibility and collateral usage.
  • Medium Risk (collateral only): DOT
• Management parameters like Collateral Factor, Borrow Factor, and liquidation metrics are specified for each 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.

Drawbacks

• Inclusion of volatile assets may increase protocol risk, though comprehensive risk assessment minimizes this likelihood.
• Listed assets may not fully meet future demand, but we'll monitor and propose additional listings as needed.

Budget and Financials

No funding requested from the DAO for this proposal.

Vote

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