Summary

This proposal seeks to introduce USDF and asUSDF backed by Astherus as new collateral assets within Lista DAO’s Innovation Zone. By adding these assets, we aim to expand borrowing options and enhance capital efficiency within the ecosystem. The proposed borrow limits and collateralization requirements ensure risk mitigation while promoting accessibility for users.

References

1. What is USDF? USDF is a yield-bearing stablecoin issued by Astherus. Backed by crypto assets and corresponding short perpetual positions, USDF maintains delta neutral positions to generate staked USDF yields. USDT and USDF are fully convertible at a 1:1 ratio, with no minting fee.

Oracle (Chainlink): 0xB97Ad0E74fa7d920791E90258A6E2085088b4320

2. What is asUSDF? asUSDF is the innovative yield-bearing token of stablecoin USDF. Stake USDF to mint asUSDF, which offers both security and high earning potential.

Oracle (Binance): 0x82e549f75Da12C644B9095B1cA3333Cb388346e1

3. About Astherus Astherus is a next-gen multi-asset liquidity hub dedicated to maximizing the utility and real yield of crypto assets. Astherus offers a powerful suite of yield-generating products under AstherusEarn and an innovative on-chain perpetual trading platform, AstherusEX. Website: https://www.astherus.finance/ Twitter/X: https://x.com/AstherusHub Telegram: https://t.me/AstherusHub Discord: https://discord.com/invite/rJFFYGAGxG Documentation: https://docs.astherus.com/

Abstract

The addition of USDF and asUSDF as collateral assets in the Innovation Zone will provide users with more borrowing flexibility while ensuring risk-adjusted collateralization requirements. The proposed parameters balance risk and efficiency, offering a 120% Minimum Collateralization Ratio (MCR) and a 1,000,000 lisUSD borrow limit for each asset.

Motivation

Expanding Borrowing Options

Adding USDF and asUSDF expands stablecoin collateral choices, giving users access to more diversified borrowing sources.

Enhancing Capital Efficiency

asUSDF allows users to borrow against a yield-bearing asset, providing an additional layer of capital efficiency within Lista DAO.

Risk-Controlled Expansion

The 120% MCR ensures adequate over-collateralization, reducing systemic risk. A 1,000,000 lisUSD borrow limit per asset allows gradual adoption and monitoring of their performance as collateral.

Specification

The following parameters will apply to USDF and asUSDF in the Innovation Zone:

USDF Collateral Parameters

Minimum Collateralization Ratio (MCR): 120% Borrow Limit: 1,000,000 lisUSD Mint Fee: 0% Borrowing Rate: Dynamic rate Withdrawal Options: USDF Withdrawal Fee: 0% Minimum Borrow Amount: 15 lisUSD Minimum Collateral Deposit: 100 USDF

asUSDF Collateral Parameters

Minimum Collateralization Ratio (MCR): 120% Borrow Limit: 1,000,000 lisUSD Mint Fee: 0% Borrowing Rate: Dynamic rate Withdrawal Options: asUSDF Withdrawal Fee: 0% Minimum Borrow Amount: 15 lisUSD Minimum Collateral Deposit: 100 asUSDF

Benefits (Pros):

Increased Accessibility: Expands collateral options, providing more choices for borrowers. Capital Efficiency: asUSDF allows users to borrow while still earning yield on collateral. Risk Mitigation: Conservative parameters ensure stable integration without excessive risk. DeFi Growth: Strengthens Lista DAO’s positioning as a flexible lending protocol with diverse collateral types.

Downside (Cons):

Market Volatility: If USDF or asUSDF loses peg, liquidation risks could increase. Initial Adoption Uncertainty: Borrower adoption may take time to gain traction.

Voting Options

YES: Approve the addition of USDF and asUSDF as collateral assets in the Innovation Zone under the proposed parameters. NO: Reject the proposal and retain the current collateral structure without USDF and asUSDF.

By approving this proposal, Lista DAO will expand its borrowing ecosystem, offering greater flexibility to users while maintaining responsible risk management.