Enable Axelar- Wrapped ETH (WETH) as collateral for the minting of CMST

Harbor Discussion
1

The purpose of this thread is to enable Wrapped ETH (WETH) as collateral for the minting of CMST.

A user may open a position in any of the vaults based on his needs, each of which will have a distinct CR ratio, debt ceiling, stability fee, and other relevant parameters. The parameters for the creation of three vaults are outlined in the following proposal.

Parameters for WETH-A vault:

  • CR ratio: 140%
  • Stability fee: 4.5%
  • Debt ceiling: 20k
  • Debt Floor value: 100$
  • Drawdown fee: 0.5%
  • Closing fee: 0.5%
  • Liquidation penalty:15%

Parameters for WETH-B vault:

  • CR ratio: 170%
  • Stability fee: 3.5%
  • Debt ceiling: 30k
  • Debt Floor value: 100$
  • Drawdown fee: 0.5%
  • Closing fee: 0.5%
  • Liquidation penalty:15%

Parameters for WETH-C vault:

  • CR ratio: 200%
  • Stability fee:2.5%
  • Debt ceiling: 50k
  • Debt Floor value:100$
  • Drawdown fee: 0.5%
  • Closing fee: 0.5%
  • Liquidation penalty: 15%

The above numbers are decided as per the risk parameter blog.

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2

Which version of bridged wETH is this? The Axelar verion or one of the other bridges?

3

The Axelar version of both ETH and BTC will be used. Will edit the title to make it convenient for all.

4

Ok, so also a $100k debt ceiling for this pair.

Is there a complete overview somewhere of all the vaults and the total debt ceiling which is live on the platform? That would allow having a quick glance on risks for the total package of enabled coins for collateral.

5

Yes. We are building a platform where users will be able to see not only debt ceiling , but all kinds of statistics and it is currently under progress. We will make an announcement once that goes live as well.

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