Proposal: Add RsERG as borrowable asset

Graveyard
1

Proposal Description

Add RsERG as a borrowable asset in Lenfi.

Short Summary

Would like to get the ball rolling. Ideally this proposal is in conjunction with a Proposal to add RsRSN as a borrowable asset but liquidity for RsRSN is currently low until the Cardano liquidity bootstrapping. So would like to get RsERG across the line to test the waters and prepare for RsRSN.

Motivation

a) Community Member here posting this proposal.

b) In it itself the addition of RsErg seems interesting. 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, possibly could benefit Lenfi with an increase in use of the protocol. The borrowing of RsERG could occur from either the speculation of the asset, need for use for things such as cross chain IDOs like the Palm IDO, or to participate in being a watcher/guard.

Additionally, both entities and users stand to benefit as providing the opportunity for anyone to borrow RsERG and participate as an incentivized (auditor) watcher would add support for the bridge, which in the future could backdoor any ecosystem with multisig support and provide access to listings for the Lenfi token itself on Dexes such as uniswap, pancake swap, etc.

c) Information about the token RsERG or ERG itself:

  • Fixed Supply: Ergo has a fixed supply of 97,739,924 coins, combating inflation.
  • Extended Emission Schedule: Through EIP-27, Ergo’s mining rewards are extended for approximately 17.38 years, enhancing sustainability and making $ERG more scarce and valuable over time.
  • ** Current Circulating Supply 75,145,161
  • ** ERGO is #1 POW chain for TVL as a % of Market Cap with 7.24% on DefiLama: x.com
  • Approve
  • Disapprove
  • Abstain
0 voters

Relevant Links

https://ergoplatform.org/en/blog/2021-04-26-the-ergo-manifesto/

https://ergoplatform.org/en/community/

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

https://x.com/erg_glasgow/status/1732739786002043259?s=46&t=yjhUxkqUCiIyC9OwCIGdnw

54 Likes
2

Im here to support ergo!

40 Likes
3

i m voting yes for this proposal

32 Likes
4

Ergo deserves more visibility as it brings considerable value to the cardano community, it absolutely needs to be more integrated with cardano protocols, this case is no difference.

34 Likes
5

Lets support Ergo :heart: :+1:

25 Likes
6

Almost there folks, we got this

20 Likes
7

Well worth a vote imo

22 Likes
8

Supporting Ergo and Cardano!

23 Likes
9

Definitely an upvoting stuff! I’m sure Lenfi will add rsERG as a borrowable asset.

20 Likes
10

Can’t think an asset more deserving than rsERG

21 Likes
11

RsERG :heart: cardano :heart_decoration: RSN Bridge :bridge_at_night:

18 Likes
12

rsERG in Lenfi finance will be great!!!

16 Likes
13

I’ve been registered on AADA since the beginning. I would like to support the effort of having rsERG included in LenFi with other significant ADA network tokens

14 Likes
14

Ergo should definitely be on Lenfi!

10 Likes
15

Yes please!!! Great harmony between ergo and cardano, lots of lending potential with rsERG

9 Likes
16

Here to support ergo :smiley:

10 Likes
17

We, the free peoples of the world, support this proposal!

10 Likes
18

Pro Ergo, ergo sum :slight_smile:
God bless you, Glasgow.

9 Likes
19

I’m all here for it, any eUTXO project deserves recognition especially one like ergo.

10 Likes
20

ERGO gang, lets do this

9 Likes