Summary
It is proposed to add collateral support to $CFX on dForce (applicable to all networks dForce supports).
Motivation
$CFX is the native token for the Conflux Network.
Conflux Network is a smart contract platform that features a Turing-complete state machine built atop a high-throughput consensus protocol. As the only regulatory compliant, public, and permissionless blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia.
Conflux’s token economy is built around the $CFX token, a unit of value on the platform that enables token holders to pay transaction fees, earn rewards through staking, rent storage, and participate in network governance. CFX also incentivizes and rewards miners, who ensure the secure operation of the Network.
With a market capitalization of $475m and a 24-hour volume of $91m, $CFX is a viable candidate for collateral on dForce.
Specification
The dForce risk management team has performed a comprehensive assessment for $CFX, including smart contract risks, financial risks, and counterparty risks, to ensure it meets dForce’s risk management standards.
Here are the proposed parameters for $CFX:
- LTV: 70%
- Supply Cap: 15,000,000
- Borrow Cap: 15,000,000
- Borrow Factor: 100%
- Reserve Factor: 15%
- Liquidation Penalty: 7%
