QIP175: Add stETH as collateral for MAI
There are currently 7,729 wstETH tokens on Optimism, a total of $9M. Current APY for stETH is 8.5%. stETH is a liquid staking solution from Lido (https://lido.fi/).
Fees
QiDao will implement an optional 0-10% performance fee on the APR of this strategy when used as collateral.
Proposed risk parameters
130% minimum collateral to debt ratio Minimum borrow: 10 MAI Maximum borrow per vault: 500,000 MAI
Motivation
Grow TVL on Optimism Increase revenue Strengthen relationship with Lido
Quorum Standards
The option with the most votes will be adopted.
Options
Add stETH as collateral Further discussions needed
Risk analysis: https://riskmanagement.qidao.community/en/tokens/steth-ethereum
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x6523...456547 | 2.53M | Add stETH as collateral |
 0x9eF0...D69444 | 190,054 | Add stETH as collateral |
 0x4bED...4491a5 | 157,111 | Add stETH as collateral |
 0xc59e...59A88A | 95,552 | Add stETH as collateral |
 0x73f1...0487D7 | 93,223 | Add stETH as collateral |
VOTE POWER
Proposal Status
- Mon November 21 2022, 07:04 amVoting Period Starts
- Thu November 24 2022, 07:04 amEnd Voting Period
Current Results
1-Add stETH as collateral
3.601M
2-Further discussions needed
588.885