I would like to add $SNEK as a collateral asset to LENFI v1.
I believe this would have a very positive impact to LENFI for the following reasons:
- Significantly more TVL
- More exposure to the protocol
- Less LENFI collateral asset dominance (90% currently)
- Thousands of snek users trying LENFI for the first time - we will create informational videos on how to use LENFI to our 15,000 holder community with safety measures in place such as 3.0+ health factor
- Volume going to LENFI instead of competing lending protocols
SNEK provides the following:
- High Volume: SNEK is the #1 traded asset in Cardano history with over 740 million ADA in total volume
- High Liquidity: 6 million ada liquidity across all dexes, 6th most on Cardano
- Tokenomics: 93.7% of the token is in circulation already
- Stability: While the token price was volatile during its early stages, the token price has since matured and stabilized and is no more volatile than any other CNT at this point in my opinion.
SNEK is going to be a big part of Cardano’s ecosystem long-term, we should welcome it’s volume, traffic, and TVL growth to LENFI.