[Omni] Extend Asset Listing

Info

Authors: 0x84B…91FA

Date Created: 2024-10-17

Summary

This proposal aims to extend the current asset listings that Omni supports on Ethereum, Arbitrum, and BNB Chain until Jan 1, 2025.

Motivation

• Continuing to enhance the assortment of available assets for collateralization boosts Omni’s platform versatility and utility.

Specifications / Proposal Details

• Our risk assessments confirm that the included assets meet acceptable stability standards, considering Smart Contract Risk, Counterparty Risk, and Market Risk. This allows for their extension as collateral options for an additional two months (until Jan 1, 2025), ensuring protocol safety.
• The following risk grades are assigned to each asset:
  • Ethereum:
    • BETA, LINK, BAND, PEPE, SHIB, MEME, ALPHA
  • Arbitrum:
    • ARB, PENDLE, GMX, LINK
  • BNB Chain:
    • CAKE, BETA, GMT, C98, BAND, AI, SHIB, XRP
• To manage these assets effectively, we propose setting expiration dates and individual risk profiles for each, specifying parameters such as the Collateral Factor (CF), Borrow Factor (BF), and various liquidation metrics for each token.

Scope of Work

• Maintain the assets as collateral options on the Omni platform.
• Update platform documentation to accurately reflect the expanded asset listings.

Timeline

Complete the extension within one week of proposal approval.

Drawbacks

• Managing a wider array of collateral types could increase operational complexity.
• The inclusion of these volatile assets may expose the protocol to higher risk. However, a comprehensive risk assessment suggests a minimal likelihood of significant price depreciation.

Budget and Financials

No funding is requested from the DAO for this proposal.

Vote

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