Summary
We would like to register $LDOT as an asset on Interlay as a first step towards considering it as a vault collateral and to facilitate other developments on Karura and Interlay side.
Proposal
Several parachains have already developed or enabled a way for users to stake their DOT while still being liquid. This has been done via liquid tokens, one of them being LDOT.
Enabling this kind of asset will mean more capacity for vaults using their LDOT as collateral but also that vaults can compound the earnings they are already getting by staking DOT.
We would like to register the asset fairly quickly in order to have as much time as possible for tests. Therefore, we request that this proposal be upgraded directly to a referendum.
Resources
Interlay Governance 101: https://docs.interlay.io/#/interlay/governance
Governance guides: https://docs.interlay.io/#/guides/governance (incl. how to make a proposal)
| callIndex | 0x1800 | ||||||||||||||||||||||||||||||||||||
| section | assetRegistry | ||||||||||||||||||||||||||||||||||||
| method | registerAsset | ||||||||||||||||||||||||||||||||||||
| args |
|
This is a no-brainer to vote YES on, as LDOT is a low-risk yield bearing form of DOT. It uses a different protocol to the stablecoin (homa not honzon), and even despite the huge exploit on Acala - LDOT has not been affected in any negative way whatsoever.
Much how many eth protocols accept stETH for their defi dApps (e.g. Ribbon), it makes perfect sense for Interlay to accept LDOT.
