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Enable A New Vault Type With KINT As Collateral
3mos ago
Executed

As part of this proposal, I also suggest that we Fast track its enactment so that we can allow for new issuance, given that we have already had a lengthy time to discuss; and there has been no contention from the community.


Summary

This proposal enables the usage of KINT as collateral for Kintsugi vaults.

Proposal

ℹ️ The full discussion of this proposal can be found in this post

Currently only KSM is accepted as collateral for vaults. One of the main goals for kBTC stability is to diversify the number of tokens that can be used as collateral. This has also been requested by current kBTC vault operators.

The next asset suggested as collateral is the KINT governance token. It is the quickest to enable and has also been one of the main requests from active vaults.

In order to enable KINT as collateral, to activate the new Vaults, parameters need to be changed on-chain as following:

  • Initial collateral ceiling: 100,000 USD equivalent (26,200 KINT)
  • Secure collateral threshold: 900%
  • Premium redeem threshold: 650%
  • Liquidation threshold: 500%
  • Minimum Collateral: 55 KINT

Further Resources

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Metadata
Proposer
Threshold
1
Hash
0x580ba7d5f34f0f873bf7fbd2eeb1d1bf6dadf2e4c946ee001cbeda4938b72e76
Call
Table
Json
callIndex0x1c03
sectiondemocracy
methodfastTrack
args
propIndex40
delay3
TimelineLatest activity 3mos ago
2022-06-08 07:46:42
Proposed
2022-06-08 07:46:42
Executed
Comments
3mos ago

I know it's a bit late now, but if I read this correctly this proposal will lead to about 11k$ worth of KBTC being minted...

That's, uhm, a start.

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