Summary

This proposal aims to introduce mBTC as a new collateral option within the Innovation Zone of Lista DAO.

mBTC, developed by Babypie, is a liquid-staked version of Bitcoin that allows users to earn staking rewards without any lockup period, thereby enhancing opportunities within the DeFi space. Babypie is a core SubDAO within the Magpie ecosystem, and the Lista DAO team plans to integrate assets from the Magpie ecosystem upon the approval of this proposal.

By adding mBTC to the list of collateral options, Lista DAO seeks to broaden its offerings and attract additional Bitcoin holders from the Babylon and Magpie ecosystems to the platform.

Abstract

This proposal requests the inclusion of mBTC as collateral in the Innovation Zone of Lista DAO, alongside previously proposed assets mCAKE, mLISTA, and mwBETH, all belonging to integral SubDAOs of the Magpie ecosystem. This integration promises increased liquidity and yield opportunities, benefiting both the Magpie ecosystem and Lista DAO.

Reference

Babypie is a distinguished SubDAO launched by Magpie, focusing on liquid staking services for Bitcoin using the Babylon platform. mBTC, as a liquid-staked version of BTC, enables users to stake their Bitcoin while earning rewards, all without the need for a lockup period, thereby enriching DeFi opportunities.

Website: https://www.babylon.magpiexyz.io/stake Twitter: https://x.com/Babypiexyz_io Telegram：https://t.me/Official_MagpieMegaDao/101184 Discord: https://discord.com/invite/magpiexyz Docs: https://docs.babypiexyz.io/babypie-introduction

Integrated Token ticker: $mBTC Contract address:0x7c1cCA5b25Fa0bC9AF9275Fb53cBA89DC172b878

Motivation

The integration of mBTC, along with previously proposed assets like mCAKE, mLISTA, and mwBETH, supports Lista DAO’s mission to build a diverse and resilient DeFi ecosystem. Adding mBTC broadens the range of collateral options available to users, enhancing participation and engagement across the platform.

Specifications

Proposed Parameters of mBTC

• Minimum Collateralization Ratio (MCR): 200% • Borrow Limit: 10,000 lisUSD • Mint Fee: 0% • Borrowing Rate: Dynamic rate • Withdrawal Options: mBTC • Withdrawal Fee: 0% • Minimum Borrow Amount: 15 lisUSD • Minimum Collateral Deposit: 0.001 mBTC

Benefits (Pros)

Liquidity Retention: Users can earn yield through mBTC while maintaining access to liquidity via lisUSD. Increased Adoption: The addition of mBTC as collateral enhances the utility of lisUSD and draws users from the Magpie ecosystem to Lista DAO.

Risks (Cons)

Similar to mCAKE, mLISTA, and mwBETH, mBTC may face uncertainties regarding adoption and possible liquidity constraints. Ongoing monitoring of parameters and adjustments will be necessary.

Voting

A Yes vote will approve the addition of mBTC as collateral within the Innovation Zone, together with mCAKE, mLISTA, and mwBETH, based on the specified parameters.

A No vote will reject this proposal, preventing the introduction of mBTC to the Innovation Zone.