Proposal to add SNX
Proposal to add SNX as a capped collateral to Interest Protocol.
Overview
SNX is an ERC-20 governance, utility, and staking token for the Synthetix Protocol.
Both Matcha and DeFi Llama estimate 10% slippage to occur at ~$278,000 market sell.
Parameters
Token Address: 0xC011a73ee8576Fb46F5E1c5751cA3B9Fe0af2a6F
Capped Token address: TBD
LTV: 60%
Liquidation incentive: 10%
Maximum Cap: 430,000 SNX (~$1,000,000 market value at time of writing)
Oracle Address:
Primary oracle: 0xdc3ea94cd0ac27d9a86c180091e7f78c683d3699
Secondary oracle:
Price deviation: 20%
Liquidity
Market Cap: $741,000,000
Liquidity: ~$1,100,000 (Uniswap V3: 0xEDe8dd046586d22625Ae7fF2708F879eF7bdb8CF)
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: 1,386 Days (Created August 9, 2019)
Value:
Privileges: None
Upgradability: The token contract is owned by a 5/13 multisig (0xEb3107117FEAd7de89Cd14D463D340A2E6917769)
Supplemental Information: