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Creditum FinanceCreditum Financeby0x70f8892B9AEd192b3E794f9398B62D50Cf2fbBf80x70f8…bBf8

Adding sFTMx as collateral on Creditum

Voting ended almost 4 years agoSucceeded

Proposal Number 3:

sFTMX is a liquid token that you get when you stake your FTM with Stader. The sFTMX tokens are a representation of your staked FTM. They allow you to swap them at a later date for your staked FTM and accrued rewards with Stader. Meanwhile, you will be able to use it on multiple protocols on Fantom to participate in DeFi.

To further push cUSD as Fantom's native stablecoin, we propose to add sFTMx with a collateralization ratio of 40% and mint limit of 500,000 cUSD. Through future governance, we will be able to raise these limits.

Currently, the liquidity of sFTMx is around ~$10 mil across DEXes on Fantom. ~$3.6 Mil on Spooky and ~$6.9 mil on Beethoven.

Here is some are some additional links on information about Stader: https://fantom.docs.staderlabs.com/starter-guide-for-sftmx/what-is-sftmx https://blog.staderlabs.com/introducing-sftmx-ca2bdfd486de

Off-Chain Vote

Yes, add sFTMx as collateral
592.54K CREDIT100%
No, don't add sFTMx
0 CREDIT0%
Quorum:593%
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Timeline

Apr 28, 2022Proposal created
Apr 28, 2022Proposal vote started
May 01, 2022Proposal vote ended
Oct 26, 2023Proposal updated