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Stake DAO ANGLEStake DAO ANGLEby0xb36a0671B3D49587236d7833B01E79798175875f0xb36a…875f

Accept wETH as collateral

Voting ended almost 4 years agoSucceeded

Proposal

I propose to accept wETH as collateral on the core module. It will have the same feature as any other collateral. Users will be able to mint agEUR from wETH, earn yield by depositing as a SLP and take leverage (up to a factor of x10) on their wETH.

Implementation

At least in a first step, there won't be any ANGLE rewards on the sanTokens and perpetuals, as we could expect demands for both will be already high enough.

This new collateral will have specific parameters that you can find here: https://github.com/AngleProtocol/sdk/tree/params-eth-collat.

Briefly, as there is no ANGLE rewards, I propose that interest from strategies going to SLPs be higher than the other collaterals. Also as it is the first non stableUSD collateral, the max leverage will be 10 and the maintenance margin is adapted to this new leverage.

Vote Options

  1. Accept wETH as collateral
  2. Accept wETH as collateral, but not with these parameters
  3. Do not accept wETH as collateral

Off-Chain Vote

Accept ETH as collateral
1.56M sdANGLE100%
Change the parameters
0 sdANGLE0%
Do not accept ETH as collateral
0 sdANGLE0%
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Timeline

Apr 22, 2022Proposal created
Apr 22, 2022Proposal vote started
Apr 25, 2022Proposal vote ended
Oct 26, 2023Proposal updated