QIP161: Add Support for xcDOT Vaults on StellaSwap

Polkadot is the 11th largest cryptocurrency by market cap, with liquidity on every major exchange. On Stellaswap (the most convenient exchange for liquidating xcDOT) there is at the time of writing this almost $2m in liquidity. Note that transferring xcDOT is fast, cheap, and occurs on the Polkadot network's shared security, for liquidators that would prefer to offramp their DOT from Moonbeam.

Risk analysis

xcDOT scores a B+ on QiDao's risk management matrix: https://riskmanagement.qidao.community/en/tokens/xcdot-moonbeam

Proposal:

In line with other B+ assets with deep liquidity, add xcDOT as collateral for MAI on Moonbeam with the following parameters:

• 130% CDR
• 1% interest rate (to QiDao)
• 0.5% repayment fee (to Stellaswap)

Other tokens that have a 130% CDR and a B+ risk rating:

• Polygon WBTC
• Optimism WETH
• Avax WETH
• Fantom WFTM
• Arbitrum WETH
• Avax WAVAX
• Polygon WMATIC
• BNB CAKE

Quorum Standards

The option with the most votes will be adopted.

Options

• Add support for xcDOT
• Further discussions needed