MRC-1: New Asset Listing - ANC

[Mills]

simple, low risk, effective, i love it.

[delphilabs]

Hey @Fomocraft! Sorry for the late reply here.

So, a way in which borrowing caps could be implemented is by: 1) Setting a maximum cap depositors of a certain long-tail asset can borrow; and 2) Limiting the assets those depositors can borrow from the protocol. For example, let’s say governance decides to list long-tail asset ABC. Governance could set a max. debt cap for ABC depositors at 5M UST. Additionally, the system would limit the assets these depositors can borrow to only UST (limiting the borrowable assets to the asset the cap is denominated in makes everything easier). In other words, ABC depositors would only be allowed to borrow UST. That way you guarantee that the max. cap is never breached.

There may be other alternatives but this could be an initial approach. One drawback of such a system is that it’s governance heavy since governance would need to define, in addition to the normal risk parameters, the max. debt cap.

In terms of the implementation of such a system, yes, it would require an upgrade to the current smart contracts.

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@Fomocraft

Alternatively, maybe the right approach is to have like a “minor league” or “pink sheets” section for this type of long-tail collateral (which would use smart contracts that have a few as-yet-undefined guardrails on them, and would be different than the “major league” table with UST, LUNA, ANC, etc.).

Definitely, this is another very interesting approach!

[gonemultichain]

@Fomocraft

MIR - Mirror Protocol
ASTRO - Astroport
Psi - Nexus Protocol
MINE - Pylon Money
APOLLO - Apollo DAO
ORION - Orion Money

THIS ! I totally agree we should have a batch-approval of these.