As of now, only USDC is available in the system but it’s time to get rolling and bring more fees to the system. Remember that we are looking for the best candidate that has decentralization, volume, adequate code base and community.
Be sure to vote. Now that the new governance contract is uploaded top 2 choices in this poll can be put on-chain for a formal proposal. Another 12 hours for this poll should be sufficient, since its been going for 3 days. We can move to the next assets following that. Official twitter mentioned only one coin to start, excluding USDC.
This is the second one of these that was created that doesn’t contain Eth. Am I missing something. Is there a particular reason why Eth was omitted? I feel like it is the obvious choice, but maybe I’m missing something.
We should be targeting coins that have no native yield and we can provide a good yield on: so yes, wrapped BTC, LINK, stablecoins etc.
SNX already has lots of options to earn yield (just staking it on the platform) so unlikely people will move SNX to yfi from natively staking? Or would the pool automate the collection of rewards… if so I’d move across as there’s high gas fees every week to collect SNX rewards… so it would be a good add. But complications with managing synthetic debt and stuff mean I’m not sure its possible.
I see people suggesting stuff like ren, iexec, unibright etc. but realistically these have comparatively lower volume, value & community so should not be first choices.