[GIP-1] Proposal to add Pools
AI summary
This proposal, GIP-1, seeks to add four initial cryptocurrency pools to the Gearbox protocol: Wrapped Ethereum (WETH), Wrapped Bitcoin (WBTC), USD Coin (USDC), and Dai (DAI). Each pool would have a capital limit of $3 million, and individual users would be limited to borrowing a maximum of $40,000 per Credit Account. The proposal also sets initial parameters for these pools, including a maximum leverage of 4x, a temporary 1% withdrawal fee, and a 2% liquidation fee that goes to the Protocol Treasury.
If passed, this proposal would enable the Gearbox protocol to begin offering leveraged trading and credit accounts with these popular assets, expanding its functionality and attracting new users. The temporary withdrawal fee could slightly reduce returns for early liquidity providers, while the liquidation fees would benefit the DAO's treasury.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
FORUM: https://gov.gearbox.fi/t/gip-1-proposal-to-add-pools/347
This proposal was drafted as a result of a previous discussion and made with help of 0xn1ck, ov3rkoalafied, alnash, and ilgiz. I am taking the liberty to turn it into a snapshot vote. The parameters have been discussed and can be learnt about via the docs links.
List of pools to add at the initial stage
These are fairly standard pools that have the most liquidity and are most commonly used in DeFi protocols.
- WETH - 0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2 1
- WBTC - 0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 1
- USDC -…