[FIP - 401] Create a new Fraxlend pair (ENS/FRAX) on Ethereum Mainnet

Authors: @Westwood

Summary: Propose the creation of a new Fraxlend pair on the Ethereum mainnet: ENS/FRAX.

Details:

• Fraxlend Pair Name: ENS/FRAX - Variable Rate V2
• Chain: Ethereum Mainnet
• Max Authorized Allocation: 2,000,000 FRAX
• Max Loan-to-Value (LTV): To be decided by the development team.

Background and Motivation: ENS (Ethereum Name Service) is a widely recognized and utilized protocol within the Ethereum ecosystem. By introducing the ENS/FRAX pair, Fraxlend can tap into the strong demand for ENS, offering new borrowing and lending opportunities. This aligns with Fraxlend's strategy of supporting valuable assets within the DeFi ecosystem. The development team will determine the appropriate LTV to balance risk and opportunity.

Liquidity Profile: ENS enjoys robust usage and a growing market presence, although its liquidity is moderate. This makes it a strategic addition to Fraxlend’s offerings.

Why Adding ENS to Fraxlend is Beneficial: Introducing ENS to Fraxlend enhances the platform’s offerings by adding a respected and widely held asset, which can attract more users and further diversify the Frax ecosystem.

Voting:

• For: Approve the creation of the ENS/FRAX Fraxlend pair on Ethereum Mainnet with the specified max authorized allocation and allow the development team to decide the LTV.
• Against: Do not approve the creation of the new Fraxlend pair.