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Senior Full Stack Web3 developer, LordMarkDev, is leading project Allegian, aiming to tokenize physical gold for use as collateral in AAVE loans. The project's feasibility and implementation, including linking the token to gold price via a Chainlink oracle and establishing an Uniswap V3 pool, are under community discussion.
The discussion primarily revolves around the project Allegian, spearheaded by LordMarkDev, a Senior Full Stack Web3 developer and Tech Researcher. The project's main objective is to tokenize physical gold with a proof of reserve. The intention behind this is to use the newly minted token as collateral to secure a loan through AAVE.
LordMarkDev is actively seeking advice on the feasibility of this idea and the best approach to implement it. One of the proposed strategies includes linking the token to the gold price using a Chainlink oracle. However, there is uncertainty about whether this would be sufficient for AAVE to accept it as collateral. Another consideration is the potential need to establish an Uniswap V3 pool with some liquidity, ensuring the token is tradable from the outset1.
The discussion is ongoing, with community members providing their insights and suggestions. The outcome of this discussion could potentially influence the direction of the Allegian project and its implementation strategy.
Posted 4 months ago
Last reply 4 months ago
Summary updated 2 months ago
Last updated 06/12 00:43