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TL;DR:
The AAVE Polygon community largely supports Rocky's proposal to add dQUICK as a lend/borrow option, potentially bringing about $80M in assets under management (AUM) and enhancing the relationship between Quickswap and AAVE. However, the community emphasizes the need for a thorough risk analysis before integration, following the asset onboarding guidelines.
The discussion revolved around the proposal by Rocky to add dQUICK as a lend/borrow option on AAVE Polygon. The proposal was largely supported by the community, with users like Quickswapper, Eont, Hirohnguyen, Jogue, and Josef expressing their approval. The addition of dQUICK, the staked QUICK token, could potentially bring about $80M in assets under management (AUM) to AAVE-Polygon, further fueling its growth. Quickswap, a category leader on Polygon like AAVE, recently achieved $800M in single-day volume, surpassing all other Layer 2 decentralized exchanges (DEXes). The proposal suggests that introducing dQUICK borrowing/lending could enhance the beneficial relationship between Quickswap and AAVE1.
Quickswapper provided additional information, stating that dQUICK receives 0.04% of all swaps on Quickswap, and the current yield on this asset is around 20-50% APR. Over 107,000 Quick tokens, nearly 50% of the circulating supply, are staked in the Dragon's Lair, making it a productive asset as collateral. A Certik audit is reportedly underway for Quickswap. Quickswapper also proposed that to limit risk, dQuick should initially be allowed to be deposited as collateral before being allowed to be borrowed2.
Eont, Hirohnguyen, Jogue, and Josef all expressed their support for the proposal, highlighting the potential benefits for AAVE, Quickswap, and the Polygon platform. However, Alex_BertoG reminded the community to follow the asset onboarding guidelines described in New Asset Listing - Governance, emphasizing that a risk analysis is key for the community to understand whether the asset is fit for integration or not7. The discussion concluded with a general consensus in favor of the proposal, pending a thorough risk analysis.
Posted 3 years ago
Last reply 2 years ago
Summary updated 2 months ago
Last updated 04/12 00:18