List MCB (MCDEX) as Collateral Asset

Summary

List MCB(MCDEX) as a collateral asset for supplying and borrowing on Cream Finance

For

Add MCB as collateral asset.

Against

Do not add MCB as the collateral asset.

Motivation

Adding MCB can enrich the asset diversity on Cream while introducing the two great protocols/assets to both communities. Furthermore, Since Cream is the only lending platform that MCDEX is intending to cooperate with at the moment, there will be a large number of MCB holders wanting to lend MCB on Cream to earn yield. This will bring considerable TVL growth for Cream.

Background

MCDEX V3 is a decentralized exchange that allows anyone to create a perpetual market permissionlessly. Now MCDEX V3 testnet has already launched, V3 mainnet will launch on L2 rollup(Arbitrum) and BSC soon.

Mai Protocol V3 designed by MCDEX is an AMM-based decentralized perpetual swap protocol. Perpetual swap is one of the most popular derivatives that has no expiration date, supports margin trading, and has its price soft pegged to index price.

MCB Tokenomics

According to the approved Proposal 19, the new Tokenomics states: The total supply of MCB is 10,000,000; MCDEX DAO is responsible for the specific usage of the newly issued MCB; The speed of issuance will be under following restrictions: It is plausible to issue 1 MCB for 1 USD captured by the MCDEX DAO vault At least 0.2 MCB can be issued by one Ethereum block (approximately 1300MCB/day) For every new issuance, 75% is for community incentive, and 25% belongs to the developers.

Specification

Information about MCB

Market cap: $57,168,855 Max Supply: 10,000,000 Total Supply: 2,134,738.96 Circulating Supply: 2,134,738

MCB is traded on Uniswap, Poloniex, BIKI, BKEX, MXC Exchange Uniswap Liquidity: $6,673,757（at the time of writing）

• Token standard: ERC-20
• Token address: 0x4e352cf164e64adcbad318c3a1e222e9eba4ce42

Audit V2: Open Zeppelin and ConsenSys Diligence V3: Undergoing

=====contents above are drafted by Lee_MCDEX=====

Discussion link: https://forum.cream.finance/t/list-mcb-mcdex-as-a-collateral-asset/1568