Please include a clear, concise title beginning with [Proposal]. Create a KNC Vault
Summary
Add Kyber Network (KNC) as the next volatile asset to be used as collateral in the delegated yVaults.
Abstract
Add Kyber Network (KNC) as the next volatile asset to be used as collateral in the delegated Yvaults.
Motivation
Additional delegated yVault assets are necessary in order to generate more revenue for the protocol and the ecosystem. This proposal nominates KNC as the next volatile asset. This proposal nominates KNC as the next volatile asset to be used as the next collateral. Other tokens have polled higher, but KNC has already been developed, it is decentralized network that is immersed in DeFi. Kyber’s on-chain liquidity protocol makes them more attractive. KNC uses multiple platforms for loans, margins and collateral and margin trading. KNC offers gas free (no fee) limit orders on the Kyberswap.com site, making them additionally more attractive.
Specification
For: ADD Kyber Network (KNC) as the next volatile asset to be used in delegated yVaults.
Against: Don’t Add KNC.
Overview
Adding Kyber Network (KNC) as a collateral option to delegated yVaults will allow KNC holders to deposit token to the vault, which will increase the total locked in value (TLV) and generate a plethura of fees for the protocol.
Rationale
KNC has already been developed and will be faster to launch as a vault. The KNC community is one of the stronger, more active crypto communities, as opposed to others that are not immersed in DeFi. KNC token can be staked. With the addition of KNC to yVaults, smaller KNC holders will be able to either allow their rewards to compound or claim them on a regular basis at very low gas costs. This model of inclusion will likely draw small and large KNC holders alike, further increasing AUM and driving fee generation for YFI holders.
Technical Specification
The technical specification should outline the public API of the changes proposed. That is, changes to any of the interfaces Yearn Finance currently exposes or the creations of new ones.
For:
ADD Kyber Network (KNC) as the next volatile asset to be used in delegated yVaults.
Against:
Against: Don’t Add KNC.
Poll: