List KEEP as Collateral Asset

Summary

We propose to add KEEP to CREAM for lending and borrowing.

KEEP is the work token of the Keep Network, used for staking and work allocation in the network. The first main project of the Keep Network is TBTC, a decentralized version of Bitcoin in Ethereum. TBTC has already been voted as a collateral in CREAM, and will be added in the coming weeks to CREAM, see vote here

For: List KEEP as collateral asset Against: Do nothing

Background

Details about KEEP

KEEP is required to run Nodes that mint, redeem and secure TBTC. It will also be used for future applications of the Keep Network, in addition to the live project TBTC. KEEP is called a work token, because it is required for staking in the network nodes; a higher amount staked increases the chances of the Node to be selected for work, as well as the amount of rewards assigned to that Node for work executed.

Example of Use Case for KEEP Token as Collateral A user (Lender) has KEEP tokens (earned through the Liquidity Mining Program of the KEEP Network, or bought on the market) but does not want to operate a Node in the KEEP Network. She could lend those KEEP tokens in CREAM for an Operator to borrow; this would increase the Operator’s chances of being selected and the amount of Rewards earned for being assigned work. The operator could secure this loan with their TBTC (recently approved in CREAM).

A Win-Win-Win situation:

• Owner of KEEP earns interest by lending it
• Node Operator earns bigger rewards in the Keep Network staking the borrowed KEEP
• CREAM earns the spread on the Borrow/Lend interests

Current Liquidity and Availability

• Summary of Keep Token Statistics: (Please check the image in the discussion thread)

• KEEP Staked in KEEP Network: In this Site you can see the current Operators of the KEEP Network and the amount of KEEP staked for each Node. https://allthekeeps.com/operators

• KEEP token in Etherscan: https://etherscan.io/token/0x85eee30c52b0b379b046fb0f85f4f3dc3009afec

References

KEEP Token Description:[ https://blog.keep.network/how-the-keep-token-works-500c9722dac0)

Keep Network, TBTC and KEEP Token documentation: https://keepdocs.github.io/#/

Discord: https://discord.gg/nPwebdFEGN

Twitter: https://twitter.com/keep_project

==contents above are drafted by @ramaruro and @Estebank== Discussion link: https://forum.cream.finance/t/proposal-add-keep-as-collateral-asset/328