Should UMA token be added as collateral on Aave?
UMA is a popular and essential asset for securing contracts that use UMA Protocol. It is not currently possible to be utilized as collateral on Aave to obtain other assets.
UMA Protocol is a community-led optimistic oracle built for Web3 that enables anyone to obtain a price on anything. UMA’s Optimistic Oracle enables a suite of products such as KPI Options, cross-chain bridges such as Across.to, Range tokens, Success Tokens and Call/Put Options.
UMA protocol has a current TVL of $100.3 million. AAVE will obtain a first mover advantage for enabling users to borrow against their UMA tokens. This proposal is to add UMA token as an asset on AAVE v2/v3 for users to use as collateral.
View here for more details regarding the proposal:
https://governance.aave.com/t/listing-proposal-add-uma-as-collateral-on-aave/6196
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x329c...543eD4 | 18,678 | For |
 FranklinDAO (Prev. Penn Blockchain) | 10,000 | For |
 0x9757...4CE331 | 5,584 | For |
 0xe87B...2Fd309 | 3,970 | For |
 0x7bf1...73163b | 2,001 | For |
VOTE POWER
Proposal Status
- Thu January 27 2022, 10:12 pmVoting Period Starts
- Thu February 03 2022, 10:12 pmEnd Voting Period
Current Results
1-For
42,191.465
2-Against
1,303.829
3-Abstain
532.478