cTokens Collateral Onboarding Poll

Hubble is ready to onboard Solend cTokens as collateral for USDH. This proposal outlines what this process will look like, and requests input on which cTokens we will onboard.

Collateral onboarding

Onboarding of new collateral assets kicked off in June with the addition of Lido’s stSOL as collateral. The stSOL deposit capped was reached within a week of onboarding, signifying a clear demand for yield-bearing assets as collateral.

After a period of review and preparation from a technical and security perspective, Hubble is now well-positioned to:

  1. Onboard new collateral assets
  2. Manage deposit caps in accordance with market liquidity and volatility of the assets

Why are deposit caps necessary?

Deposit caps are needed to ensure that market-based liquidations can take place with minimal slippage or putting the protocol at undue risk. Should all loans of a given asset reach the maximum LTV, the deposit cap ensures that the entirety of a given asset currently collateralizing USDH can be liquidated in an orderly manner.

cToken onboarding

Yield bearing collateral is a priority for the protocol; with cTokens being the next in line following stSOL and daoSOL. cTokens will be onboarded into a new vault, with different fee and liquidation parameters.

As we are moving into the onboarding phase, we would like to gather community feedback on which cTokens should be included.

Vote below which cTokens you would like to see onboarded to the platform first.

Note that you can select up to 3 tokens.

cToken Onboarding Poll
  • cSOL
  • cBTC
  • cETH
  • cUSDC
  • cUSDT
  • cmSOL
  • cstSOL
  • cRAY
  • cSRM
  • cFTT

0 voters