Hi @ssmccul, was just listening to you guys on Leviathan

Question

Hi @ssmccul, was just listening to you guys on Leviathan

(great work btw, love the daily format!) and to the question about how sfrxETH was chosen as the _first_ collateral for crvUSD, I couldn't really hear what Mich was saying, but the gist i heard was:

Because sfrxETH has a special onchain price oracle (and something about exponential moving average) that is required for the unique liquidation mechanism on crvUSD, that's why it was chosen first, but that plan is to add additional LSTs, to be decided by Curve governance....?

was that the gist of it?

#cryptocurrency #english #frax

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06.05.2023

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Paul Apivat Автор вопроса

Sam Kazemian ¤⛓️¤
Yes, the gist was that it is definitely not the so...

thx for the clarification ser, i didn't realize frxETH had such a robust onchain oracle, great to know 🚀

0

06.05.2023

sh354

Sam Kazemian ¤⛓️¤
Yes, the gist was that it is definitely not the so...

Mich said 10m$ is till new oracle for sfrxETH and then DAO will be ready to vote more, as I recall

0

06.05.2023

Sam Kazemian ¤⛓️¤ · Accepted Answer

Sam Kazemian ¤⛓️¤

Yes, the gist was that it is definitely not the sole or even the first collateral (technically tricrypto is). frxETH has liquidity both on Curve and on Uni v3 so the onchain oracle is pretty robust and usable. It's also pretty decentralized compared to solely using just Chainlink only. And also, the sfrxETH debt ceiling is just $10m which is quite guarded and safe.

0

06.05.2023

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Hi @ssmccul, was just listening to you guys on Leviathan

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