Increase Collateral Factor of ARMOR and arNXM to 60%

Summary

Increase collateral factor of ARMOR and arNXM to 60%

For

Increase collateral factor of ARMOR and arNXM to 60%

Against

Do nothing, which means stay at 0%

Motivation

It is important to raise collateral factor of newly listed assets with 0%. ARMOR and arNXM have stable liquidity across Ethereum DEXes.

60% is a reasonable collateral factor for ARMOR and arNXM. This provides great incentives for ARMOR and arNXM holders to supply in C.R.E.A.M. Finance, leading to higher TVL of the protocol and higher demand for borrowing assets.

Memo on token distribution: Currently 60% of supply is held by multisig. Soon a token holder led DAO will be implemented where approx 36.5% of supply is allocated to a dedicated gnosis safe wallet controlled via safesnap module governed by off-chain snapshot voting system. In addition a further 14.25% of the supply is allocated to token reward emissions. Armor currently runs the reward program via weekly distribution of tokens from the multisig (using synthetix contract). Armor is working on a new masterchef style reward distribution contract which works with already minted tokens (currently normal masterchef mints new tokens, doesn't distributed already minted tokens). Once thats audited and live, Armor will also move all the reward emission token allocations to that special contract, as well as release the new masterchef contract as open source.

========Contents above are drafted by az======== Discussion link: Proposal: Add arNXM and ARMOR as collateral assets on CREAM Ethereum with 60% collateral factor