Decrease the Collateral Factor for FTT

Summary:

Decrease the Collateral Factor for FTT (FTX Token) on C.R.E.A.M. lending.

Abstract:

This proposal will decide on the new collateral factor for FTT. As one of the very first C.R.E.A.M. snapshot votes here, it has already been decided collectively that we should decrease the collateral factor of FTX. Now we should decide what that new level will be, as well as how much time we should allow FTT suppliers to unwind their borrow positions as needed.

Motivation:

As previously discussed, FTT is an illiquid token that is overwhelmingly supplied on C.R.E.A.M. by one holder (Alameda/SBF). While there is nothing wrong with a holder utilizing existing collateral for borrowing, the illiquid nature of FTT puts the C.R.E.A.M. protocol at risk should we ever need to liquidate any of these borrowing positions.

-----contents above are drafted by Dudesahn----- Discussion link: https://forum.cream.finance/t/proposal-decrease-ftt-collateral-factor/76/4