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Cream FinanceCream Financeby0xe965484BA4250c446779D4703f1598DC2EA00d12claberus.eth

Increase GNO collateral factor to 60%

Voting ended over 4 years agoSucceeded

Summary Increase collateral factor for GNO from C1 (zero) to C5 (60%).

Motivation GnosisDAO is a long-term player committed to the success of C.R.E.A.M. Finance by holding 4-year-locked iceCREAM, participating in its governance and providing significant ETH and GNO liquidity to the protocol.

GNO listing on C.R.E.A.M. was a crucial first step to enabling collateralised lending for GNO holders. Increasing GNO's collateral factor would give additional utility for GNO token holders and incentivise activity in C.R.E.A.M. Finance.

Asset Details: GNO is the token that represents the governance of the GnosisDAO. GNO is a very liquid token that currently allows trades of 400K USDT with a price impact lower than 2% as shown on https://cowswap.exchange

At the time of writing $2.7MM worth of GNO is already deposited to C.R.E.A.M. GNO token holders are demonstrating continued interest using GNO in DeFi with +$45MM liquidity provided to Balancer and Uniswap pools and +8MM in Unit Protocol.

https://blog.gnosis.pm/announcing-gnosisdao-a7102fcf9224 https://www.coingecko.com/en/coins/gnosis

Background Website: https://gnosis.io/ Forum: https://forum.gnosis.io/ https://blog.gnosis.pm/

Forum discussion about increasing GNO collateral factor: https://forum.cream.finance/t/increase-gno-collateral-factor/1765

Action item For: Collateral factor of GNO is increased to C5 level. Against: Do nothing.

Off-Chain Vote

FOR
1.51K 100%
AGAINST
0 0%
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Timeline

Sep 14, 2021Proposal created
Sep 16, 2021Proposal vote started
Sep 20, 2021Proposal vote ended
Oct 26, 2023Proposal updated