Proposal to add APE as Collateral

Governance
#1

Proposal to add APE

Proposal to add APE as a capped collateral to Interest Protocol.

Overview

ApeCoin is an ERC-20 governance and utility token, which signals to the Ape Foundation what actions to take and administer.

Both Matcha and DeFi Llama estimate 10% slippage to occur at ~$600,000 market sell.

Parameters

Token Address: 0x4d224452801ACEd8B2F0aebE155379bb5D594381
Capped Token address: TBD
LTV: 60%
Liquidation incentive: 10%
Maximum Cap: 308,000 APE (~$1,000,000 market value at time of writing)
Oracle Address:
Primary oracle: 0xd10abbc76679a20055e167bb80a24ac851b37056
Secondary oracle:
Price deviation: 20%

Liquidity

Market Cap: $1,203,000,000
Liquidity: ~$3,200,000 (Uniswap V3: 0xAc4b3DacB91461209Ae9d41EC517c2B9Cb1B7DAF)
Coingecko 7-day avg 24hr volume: $51,000,000
Notable exchanges: Coinbase, Binance, Uniswap, etc

Technical risks

Type of contract: ERC20
Underlying asset: Governance Token
Time: 466 Days (Created February 14, 2022)
Value:
Privileges: None
Upgradability: None
Supplemental Information:

Relevant References

Apecoin.com
DefiLlama

1 Like
#2

Paper, of the three new ones, this is the one that brings me the least security, since APE is super volatile in its price and although it has liquidity similar to SNX, we know that at least SNX has a broad ecosystem where it could get liquidity.