Initial assets for Money Market

9mos ago
10 Comments

In view of the new announcements, I would like to introduce the discussion about which assets should appear in the Money Market initially

From my point of view, taking into account liquidity, they should be both for borrow and collateral:

USDC (native)
USDT (native)
WETH (MRL)
WBTC (MRL)
DOT
vDOT
iBTC

If you have any other recommendations, of course leave them in the comments.

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Obviously HDX, so i can lend my HDX to buy more HDX and repeat until i am at like 10x leverage

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Maybe BNC

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HDX is mandatory.We could add GLMR, it is having very good results and a lot of support. I think your proposal is great Jose.

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Great!

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The most crucial are:

  • WETH
  • WBTC
  • DOT
  • vDOT

All are majors and have ample liquidity + available DIA oracles.

iBTC I would be concerned about availability of liquidity so we would need to really monitor this.

Other assets that are further out the risk curve should be considered at a later date - the initial launch should be kept small and build up over time imo (much like we did when we launched the Omnipool in training wheels mode)

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I agree with @Jose Crypto about the initial list of markets:
USDC (native), USDT (native), WETH (MRL), WBTC (MRL), DOT, vDOT, iBTC

regarding iBTC, I will personally revive the Polkadot Treasury proposal from the Interlay team to contribute DOT to incentivizing vault operation to enable more iBTC capacity in the system, since this is a common good for the entire ecosystem.

Once that initial list of markets is open, I would suggest:

  • Add ASTR, GLMR, DAI. All have high MC and adequate liquidity on Hydration.
  • Propose a Polkadot treasury proposal to deposit DOT and USDT into the Hydra markets to increase lending capacity. I'm looking for any and all ways to deposit DOT/parachain treasury funds into single-sided DEX and lending pools to increase liquidity across the ecosystem while treasuries maintain control of the funds so it's not a reoccurring cost (but instead generates revenue).
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