New Forum Proposal: Proposal: Make Venus the Destination to Deposit

Question

New Forum Proposal: Proposal: Make Venus the Destination to Deposit

and Borrow $M by M^0

We propose to add Wrapped $M (“wM”) as a new and featured asset in the Venus Core Pool on Ethereum Mainnet. We believe that $M’s robust design – with native and sustainable yield – combined with Venus Prime rewards, will drive significant deposits and ultimately the cheapest borrow rates for blue-chip collateral in DeFi. Therefore, we propose to divert current Prime Rewards from the USDC and USDT markets to the new wM market.

Summary

Since launch on mainnet, the USDC and USDT markets in the Core Pool have failed to find meaningful deposits. As it stands, the Core Pool lacks differentiation and a driving force behind it. We propose to change that by making the $M market a marquee destination.

How? The M^0 Smart Yield Wrapper (see more below) will enable depositors to earn the t-bill rate at a minimum while still allowing for a significantly higher yield through borrowing demand. Combined with concentrated Prime emissions, this market will become a savings destination for depositors to find the highest risk-adjusted yields and the cheapest borrowing destination for leverage seekers. Furthermore, the wrapper provides the ability to redirect yield in an arbitrarily complex manner, allowing for an array of creative incentive solutions to drive desired behaviors inside the core pool (increasing deposit yields, subsidizing borrow costs, etc.). Most importantly, the yield is both highly scalable and sustainable.

Finally, we will support the pool by helping to bootstrap initial deposits with our own capital and by urging our investors and early holders of M to deposit.

https://community.venus.io/t/proposal-make-venus-the-destination-to-deposit-and-borrow-m-by-m-0/4528

#blockchain #cryptocurrency #english #venus

0

15.08.2024

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sending all USDC/USDT prime rewards to $M token doesn’t seem agreeable

0

29 дней назад

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New Forum Proposal: Proposal: Make Venus the Destination to Deposit

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