Summary: This proposal seeks to list Etherfi’s weETH as a supported collateral and borrowable asset on Venus Protocol’s Unichain deployment. Etherfi is aiming to scale the usage of weETH on Unichain as a DeFi hub for capital efficient collateral.
Motivation: Etherfi is the leading decentralized, non-custodial liquid staking protocol on Ethereum, with over $5.3B in total value locked. Its restaked liquid staking token, weETH, is rapidly gaining adoption across DeFi ecosystems. Further information about holdings, liquidity, & deployments can be found from the following suite of analytics - https://dune.com/ether_fi/etherfi .
Listing weETH on Venus Unichain will support Venus’s money markets by providing additional ETH-based assets to the Unichain deployment, providing additional yield bearing collateral options for Venus users.
Benefits:
We look forward to receiving feedback on this proposal and look forward to supporting Venus with their Unichain deployment.