[Omni] Extend SHIB Listing on BNB Chain

Info

Authors: 0x84B…91FA

Date Created: 2024-09-20

Summary

This proposal aims to extend the listing of SHIB on the BNB Chain for use as collateral on the Omni platform by Beta Finance until Nov 1, 2024.

Specifications / Proposal Details

• Our risk assessments confirm that the included assets meet an acceptable stability standard, taking into account Smart Contract Risk, Counterparty Risk, and Market Risk, thus enabling their extension as collateral options for an additional one month (until Nov 1, 2024), ensuring the protocol's safety.
• The following risk grades are assigned to each asset:
  • Medium Risk: $SHIB
• 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 $SHIB as collateral options on the Omni platform.
• Update platform documentation to accurately reflect the expanded asset listings.

Timeline

Complete the extension within one week after the proposal is approved.

Drawbacks

• Managing a wider array of collateral types could increase operational complexity.
• The inclusion of these volatile assets might expose the protocol to higher risks. 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 voting with three options: “Yes,” “No,” and “Abstain.”