Proposal 23: Establish ASSY and Future Indexes as Collateral on CREAM & AAVE

*Propsal 23: Establish ASSY and Future Indexes as Collateral on CREAM, AAVE and Similar Platforms

Summary
Given our position as an asset backed index, we are in the unique position to establish our place in the larger Decentralized Finance ( #DeFi ) ecosystem. Given the stability our indexes provide users, we would be perfect as collateral for various lending solutions. In addition, the presence on indexes would increase our visibility in the wider market. Leveraging our assets we can at least initiate proposals in Compound, Aave and Cream solely on the weight of our held assets.

Abstract
The Powerpool team will actively support listings for Powerpool indexes on Compound, Aave and CREAM. If the team is not capable of actively engaging the communities with the rationale, it is possible to provide an incentive to users to prepare the rationale for the various platforms proposal systems. It is also possible to allocate some portion of CVP to addresses that vote in favor if the threshold for listing will a certain level of collateral is met.

Motivation
Increase exposure
Provide a means for users to draw additional value of their assets
Demonstrate the usability of metagovernance

Specifications
1500 CREAM (approx $270,000k) is the threshold for CREAM listing proposals. The Yeti index has about 2650 CREAM at the moment, more than sufficient to meet the minimum threshold.

For AAVE, it relies on proposition power. This can be delegated. Currently Aave is the major portion of the ASSY index, thus its proposition power could be potentially quite high. In addition, with some incentives, I am sure listing would be a no-brainer.

Set aside some portion of CVP, to be an incentive for listing.

this is very interesting. would love to see other’s opinions on this that have a deeper technical understanding of how we can implement something like this.

1 Like

Im completely for this proposal, i already made a proposal but never launched it cause i thought and think it might be too early at this point.

My dream/wish is to have ALL index tokens (PIPI,YETI,YLA,ASSY and XCVP, not the normal cvp please) as colateral on Cream and AAVE. Cream might be possible, AAVE is impossible right now (and only assy will be accepted there) cause the liquidity of the assy token is too small.

For Cream i expect that the YETI Token is fixed before we propose that. What i mean by that is that we need DAMM and Cover readded first. Maybe we could even discuss if CVP should be delisted cause its no merger or we add alpha and badger to it because they also have a close relationship with yearn now (and tbh alpha and badger are quite interesting projects). But can we offer more than 8 tokens in an index?

Otherwise i think YETI, PIPT, YLA and XCVP make the most sense on cream.
I also prepared a proposal to readd cover and i shared it with the cover team before, but they said they reach out to the Powerpool Team on their own which didnt happen so far i guess. Since Cover is already working on XCOVER which will be released in March (i stole the idea from them and sushi cough) we should add it to the YETI token.

And we also need the proposal that the rewards will be cut first. Why should anyone lend his assy to cream if he can also stake it on powerpool and earn CVP rewards on it. That has to end and is one of my main reasons why i support the reward cutting. Those index tokens only make sense if they are beeing used in the DEFI world and not held hostage by our protocol.

But in general im for it, its the next step we need for adoption.

2 Likes

I like this idea. And @MichelVaillant is right, we need to decrease inflation as well to make this idea come to life.

1 Like

For this, agree with everything MichelVaillant said

So what do I need to do next for movement on this?