RIP #9 - Onboarding gmBTC & gmETH as Collateral on Radiant Capital

Abstract:

This proposal seeks approval to integrate gmBTC and gmETH (GMX v2 liquidity tokens) as collateral within Radiant Capital’s Arbitrum deployment. This initiative aims to expand Radiant’s collateral offerings, enhance user experience, and leverage the security improvements and features introduced in GMX v2.

Motivation:

Radiant Capital strives to provide a comprehensive, decentralized platform for lending and borrowing cryptocurrencies. By incorporating high-quality assets such as gmBTC and gmETH, Radiant can offer users more options, improve platform liquidity, and capitalize on GMX Protocol's advancements. The integration of gmBTC and gmETH aligns with Radiant’s vision of expanding its asset offerings to meet the evolving demands of the DeFi market.

Specification:

Support the integration of gmBTC and gmETH as collateral within Radiant Capital’s Arbitrum deployment with the following parameters:

• gmBTC Max LTV: 55%
• gmBTC Liquidation Threshold: 60%
• gmBTC Supply Cap: 3,390,000
• gmETH Max LTV: 60%
• gmETH Liquidation Threshold: 65%
• gmETH Supply Cap: 3,390,000

Please refer to the detailed evaluation and parameters: Chaos Labs Report: https://chaos-labs.notion.site/EXT-gmBTC-gmETH-Listing-on-Arbitrum-8d782822085d4b818852cefc31e92726

Please refer to RFP-39 for more details: https://snapshot.org/#/radiantcapital.eth/proposal/0x8216d4b089c0e787ef383683b17ce2af026caa2bba986ddbddfa178094bf854b