Increase GNO collateral factor to 60%
Summary Increase collateral factor for GNO from C1 (zero) to C5 (60%).
Motivation GnosisDAO is a long-term player committed to the success of C.R.E.A.M. Finance by holding 4-year-locked iceCREAM, participating in its governance and providing significant ETH and GNO liquidity to the protocol.
GNO listing on C.R.E.A.M. was a crucial first step to enabling collateralised lending for GNO holders. Increasing GNO’s collateral factor would give additional utility for GNO token holders and incentivise activity in C.R.E.A.M. Finance.
Asset Details: GNO is the token that represents the governance of the GnosisDAO. GNO is a very liquid token that currently allows trades of 400K USDT with a price impact lower than 2% as shown on https://cowswap.exchange
At the time of writing $2.7MM worth of GNO is already deposited to C.R.E.A.M. GNO token holders are demonstrating continued interest using GNO in DeFi with +$45MM liquidity provided to Balancer and Uniswap pools and +8MM in Unit Protocol.
https://blog.gnosis.pm/announcing-gnosisdao-a7102fcf9224 https://www.coingecko.com/en/coins/gnosis
Background Website: https://gnosis.io/ Forum: https://forum.gnosis.io/ https://blog.gnosis.pm/
Forum discussion about increasing GNO collateral factor: https://forum.cream.finance/t/increase-gno-collateral-factor/1765
Action item For: Collateral factor of GNO is increased to C5 level. Against: Do nothing.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xe965...A00d12 | 1,502 | FOR |
 0x04b1...db9dDa | 11 | FOR |
VOTE POWER
Proposal Status
- Thu September 16 2021, 09:00 amVoting Period Starts
- Mon September 20 2021, 09:00 amEnd Voting Period
Current Results
1-FOR
1,513.19