Hey all, Chop from NFTX here. I’ve used CLGs LINK format to draft this proposal. If there are any points missing, please do add them as questions in the comment section below.
Summary:
After deeper discussions with the Rari team, the NFTX core team would like to formally propose creating a new Fuse pool with PUNK, GLYPH, ETH, and DAI. The advised collateral factor for this proposal is set to 50%. All tokens can be lent and borrowed, enabling users of Fuse to long/short prime NFT categories. As all NFTX Vault tokens are provided on Sushi, a SushiSwap TWAP bot is set up that updates every 15 minutes by the NFTX Core team, with a redundancy bot, kept up in case of failure.
Abstract:
Create pool with
PUNK (CF = 50%)
GLYPH (CF = 50%)
ETH (CF = 50%)
DAI (CF = 50%)
Motivation:
Having a Fuse NFT liquidity pool (powered by NFTX vaults) available gives users the ability to use (fractions of) their NFTs as collateral for borrowing/lending markets, as well as generate additional yield from potential liquidations. This brings a new ecosystem of users (NFT holders) to the Rari protocol while adding additional value to NFTX users allowing them to do more with their NFTs.
Side note:
The current selection of NFTX Vault tokens is based on a combination of TVL and the amount of NFTs per vault. For a full overview on NFTX TVL, we have set up a Dune Analytics here: https://dune.xyz/nftx/NFTX-Dune-Dashboard-Protocol-View
For: Create this Fuse pool
Against: Do not create this Fuse pool
More than happy to receive feedback before moving to voting!
