Onboarding New Assets to Non-Ethereum Blockchains

As we continue to expand beyond Ethereum and being a multi-chain and multi-layer DeFi platform, it is important that we adopt a flexible policy catering to our strategies while safeguarding the highest security and risk standards.

Exchange blockchain and layer 2 chains are somewhat centralized at earlier stage, and usually, they support a broader variety of tokens (DOT, XRP etc) other than ERC20 tokens. We feel the need to adopt a risk policy that is able to accommodate this multi-chain and multi-layer dynamics, so we recommend the following risk policy be adopted across non-Ethereum blockchain deployment and asset onboarding:

  • For collaterals accepted on our Ethereum Lending protocol, it will be automatically accepted to be on our lending platforms (i.e BSC, Optimism, Heco etc); these collateral listing on our protocols on other chains don’t require separate governance voting.

  • For top 50 market capitalization tokens (according to coinmarketcap.com), they will be eligible for listing subject to on-chain voting. The community and core team has responsibility to provide assessments accordingly.

  • Risk parameter settings are based on market standard and are all subject to governance approval.