[GIP-180] pumpBTC + PT pumpBTC (Corn) onboarding
AI summary
This proposal, submitted by Chaos Labs, seeks to add two new assets, pumpBTC and PT pumpBTC (Corn), as accepted collateral within Gearbox's WBTC lending pool. pumpBTC is a liquid restaked token for Bitcoin, and PT pumpBTC (Corn) is a yield-bearing version of pumpBTC from the Corn protocol. The proposal details the technical specifications for integrating these assets, including their price oracles and risk parameters like liquidation thresholds.
If passed, Gearbox users will be able to use pumpBTC and PT pumpBTC (Corn) as collateral to borrow other assets, increasing the utility and liquidity of these tokens within the Gearbox ecosystem. This could attract new users who hold these specific Bitcoin-related assets, but also introduces new assets with their own risk profiles to the protocol.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Author
Chaos Labs
Summary
Chaos Labs proposes whitelisting PT-corn-pumpBTC-26DEC2024 and pumpBTC as collateral within the WBTC pool.
Analysis
PT pumpBTC (Corn) pumpBTC Corn is a BTC LRT offered by Corn utilizing pumpBTC as underlying. pumpBTC supply currently accrues points for multiple projects simultaneously, with the Corn-staked version accruing Corn Kernels on top. The substantial amount of incentives add a speculative element to its supply. It is possible to mint pumpBTC on Ethereum through WBTC and FBTC. These assets are then converted into pumpBTC, which is subsequently deposited…