# List SPY in the money market

This proposal, if approved, will list SPY (asset 1001356) in the Hydration money market as collateral and as a borrowable asset, following its launch in the Omnipool.

Execution will:

- add SPY to the money market with a `70%` LTV, `75%` liquidation threshold and `7%` liquidation bonus, priced by the SPY/USD oracle
- set a supply cap of `1,293` SPY and a borrow cap of `646` SPY (~$1M and ~$500k at $772.94), with a `20%` reserve factor and the same interest rate curve as SOL, HYPE and ZEC
- register aSPY (asset 1012) in the asset registry and accept it for fee payment
- register on-chain router routes between SPY and every money-market asset outside the Omnipool so that liquidations can always settle, plus routes from HDX and WETH to aSPY for fee pricing
- enable the SPY/aSPY pair in the ICE solver's routing, so intents involving aSPY can be solved
- supply the Treasury's full SPY balance (~25.8 SPY) to the money market, converting it to aSPY

Track: Root. Preimage hash `0x5c6019c512082f50b9cdbe471df69260aafd667d9b319dfda1cc49fd7e99c7dd`.


# SPY Money Market Listing Proposal

- This is a plan to add SPY to the Hydration money market.
- People could use SPY as collateral and also borrow it.
- The plan allows borrowing up to 70% of SPY's value.
- There is a limit: 1,293 SPY can be supplied and 646 SPY borrowed.
- Fees and interest rates would work like other assets such as SOL.
- New trading routes would be set up so SPY trades and fees work smoothly.
- The Treasury's SPY (about 25.8) would be added to the market too.

calls

Deciding

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List SPY in the money market

whitelisted_caller

referendum_canceller

referendum_killer

general_admin

treasurer

spender

tipper

omnipool_admin

economic_parameters

Origin able to dispatch a whitelisted call.

 Origin for spending very high amounts of HDX(<= 50M HDX) from the treasury as well as generally administering it.

Origin able to spend up to 2,222,222 HDX from the treasury at once.

Origin able to spend up to 50K HDX from the treasury at once.

Origin able to perform specific Omnipool-related actions.