Add rsBTC as a collateral and borrowable asset in Lenfi)

Proposal Description

Add rsBTC as a collateral and borrowable asset in Lenfi.

Short Summary

With the Rosen Eth Bridge testnet, then mainnet almost around the corner, would like to continue to introduce more rosen assets within different dapps across ecosystems, to get users more accustom to them.

  • Approve
  • Disapprove
  • Abstain
0 voters

Motivation

a) Community Member here posting this proposal.

b) Being that this is a bridged asset there are separate risks associated with bridged assets vs native assets. Rosen Bridge, an open-source protocol for cross-chain asset transfers with incentivized auditing.

Being able to bridge your BTC to cardano to use as collateral to borrow the assets could be of great benefit in onboarding new people within Cardano and Lenfi. Leading to hopefully more borrowing which benefits both parties with increased usage of both protocols.

c) Information about the token BTC & rsBTC:

  • Max Supply: BTC has a max supply of 21,000,000 coins
  • Current Circulating Supply within Cardano: 4.01
  • Total Bridged BTC : 4.27463644 • $275,640

Relevant Links

TapTools

rsBTC price, live rsBTC chart, trades & market cap | TapTools

The current real-time price of rsBTC stands at 63,329 USD, with a 24-hour trading volume of 1,274 USD. rsBTC to USD pricing is continuously updated to reflect the latest market data.

DefiLlama

DefiLlama

DefiLlama is a DeFi TVL aggregator. It is committed to providing accurate data without ads or sponsored content, as well as transparency.

The Ergo Manifesto | Ergo Platform

Community | Ergo Platform

rosen.tech

Rosen Bridge

Rosen Bridge, an open-source protocol for cross-chain asset transfers

GitHub

rosen-bridge

rosen-bridge has 24 repositories available. Follow their code on GitHub.

https://twitter.com/RosenBridge_erg

26 Likes

lets go bitcoin on lenfi!

22 Likes

with the bull run, got time to introduce btc to be used within cardano

14 Likes

nice reached the votes. hopefully we pass the on chain vote now!

1 Like

Let’s go let’s go let’s go let’s go

2 Likes

Let‘s gooooooooooooooooooooiioo