We would like to propose that xRULER token be added as a collateral option for borrowing and lending in FUSE Pool 3.
For : List xRULER as a collateral asset.
Against : Do nothing.
Launched by: Ruler Protocol
Token Symbol: xRULER
Our full product paper and documentation can be found here:
Docs: RULER Docs
Smart Contract: Etherscan Link
Audited by: PeckShield and Certik
Current Total Value Locked: $90 Million
TVL Link: https://app.rulerprotocol.com/app/markets
Number of lending pairs currently active: 15
Ruler Protocol currently provides non-liquidateable loans using market driven pricing mechanics. Recently Ruler Protocol launched xRULER, the interest yielding RULER token that will eventually earn protocol fees for stakers of the RULER token. Ruler Protocol provides a unique model that opens the doors for a long term collaborative relationship whereby idle assets within Ruler can look to possibly receive yield returns via RARIs yield aggregation product. Alternatively there is yet to be explored opportunities for other yield strategies that can leverage the RULER model of liquidation free risk to the borrower in search of better compounding returns that may not be available to the asset today.
Proposed market parameters;
IRM: Cream model (Ref - RIP16)
Collateral Factor: 40%
Reserve Factor: 30%
Benefits for Rari Capital and RGT
Aligns further incentive for RULER to support the ongoing use of RGT token in RULER protocol,as well as providing rewards
Create new strategies unseen in the DeFi space that can provide fixed and variable yield returns for a “base line” return effect.
xRULER token holders would add additional TVL into the already popular Pool3 in FUSE. Long term, RULER, would be an ideal partner for building strategies to leverage idle assets and boost returns for RULER LPs while providing RGT the opportunity to earn more fees.
Ruler Protocol is currently the only protocol offering liquidation free loans on non-like assets (Alchemix currently achieves a non-liquidatable position on USD to USD pairing). This power to the borrower allows for an easier to manage experience when it comes to risk overall as the user no longer needs to maintain a collateral ratio in fear of being liquidated, with the protocol placing the assumed risk on the lender.
Additional Details on RULER Protocol can be found here