Title
Acala Network initial onboarded assets
Author
@SeiyaChida (Starlat Chan Initiative)
Motivation
We’d like to invite the community to join a discussion focused on the selection of tokens and the determination of parameters for the Acala Network launch. This initiative, as directed by the recent Snapshot vote (view snapshot), aims to develop a diverse and robust ecosystem within Acala.
Our conversation will primarily revolve around crucial considerations such as token stability and market demand, essential for aligning the chosen tokens with the strategic goals of the Acala Network and the needs of its users. This discussion is a vital part of the process, ensuring that our approach to token integration and the setting of launch parameters are well-informed and community-driven.
Initial Token Parameters suggested by SCI
| Token | LTV | Liquidation Threshold | Liquidation Bonus | Reserve Factor | U Optimal Rate | Slope 1 | Slope 2 |
|---|---|---|---|---|---|---|---|
| DOT | 60% | 65% | 15% | 20% | 65% | 7% | 100% |
| LDOT | 50% | 55% | 15% | 20% | 55% | 7% | 300% |
| USDCet | 70% | 75% | 5% | 10% | 90% | 4% | 60% |
Price oracle
We are considering implementing Acala’s provided price oracle. However, as a precautionary measure, we plan to have a backup system in place. This backup would involve loading market price data from CoinGecko on the Starlay side. We would switch to this simpler solution in case of an emergency, ensuring continuous and accurate pricing data for our operations. This approach would allow us to maintain the stability and reliability of our system, adapting quickly to any unforeseen scenarios affecting the primary oracle source.
Next Steps
We will put the proposal to a vote via Snapshot in 3 days
Voting Schedule
Snapshot Voting: Dec 22nd, 09:00 UTC - Nov 25th, 09:00 UTC.
Voting Option
YES - Approve the proposal
NO - Reject the proposal - Finalizing token listing evaluations and integration.