RFC - Add a gmBNB Cauldron

[RFC] Requests For Comment
1

RFC - Add a gmBNB Cauldron

TL;DR: Add one new gmMarket using gmBNB as collateral on Arbitrum.

Cauldrons parameters:

gmBNB

-75% ltv

-7.9% Interest

-1% Borrow Fee

-6% liquidation

Initial Top Up: 5m MIMs

Summarised Proposal

The following proposal is to expand our gmCauldron offering adding a gmBNB market.

Risk assessment and overview are similar to the already 5 cauldrons launched, and therefore we are confident having the following proposal going through the Speedlane AIP template.

The initial top up will be of a total of 5m MIM, to be executed according to liquidity and demand.

You can check SAIP #34 here for more details

Next Steps

The current proposal will remain as an RFC for 48 hours, and will then be moved to voting as AIP #44.

Following this, a snapshot vote will soon be put up in order for this proposal to be voted on!

1 Like
2

Utilizing BNB is a smart choice… Bringing the whole world together on abracadabra.money! :frog::love_you_gesture:

3

I think this is a very good proposal. To me it’s a pretty obvious decision. BNB is extremely liquid, and it is bridged through the same technology as MIM to Arbitrum. Also the parameters are comparable to gmSOL, and it seems to me that the collateral is comparable in quality.

2 Likes
4

Agree completely. Things could get fun during the CZ sentencing too. Probably lots of speculation > lots of fees for LPs.