QIP192: Add cbETH as Collateral for MAI

cbETH is a ETH liquid staking derivative / token from Coinbase. Its TVL is over $2bn on Ethereum.

cbETH: https://www.coingecko.com/en/coins/coinbase-wrapped-staked-eth

Vault specifications

• Collateral asset to be used: cbETH
• Minimum collateral to debt ratio: 125%
• Performance fee: 20% of yield
• Minimum debt: 10,000 MAI
• Maximum debt: 10M MAI
• Oracle provider: Chainlink
• Risk grading: C+
• Risk methodology: https://mai.watch/en/assessments/cbeth-ethereum

Motivation

• Grow revenue and market share on Ethereum
• Introduce new audiences to QiDao

Quorum Standards

The option with the most votes will be adopted.

Options

• Approve proposal
• Further discussions needed
• Abstain