2) First off, I'm happy it passed; thanks to everyone who supported it! etc.
I think this will help diversify Compound, bringing more utility to the protocol, $COMP, etc.
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3) I'd also like to thank everyone who gave input on the vote and ultimately decided against: see here for 's reasoning: twitter.com/Dharma_HQ/stat
TL;DR: wanted more liquidity and safety checks on $WBTC.
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3/ Prop 16 follows on Prop 14 in attempting to add a collateral factor for wBTC.
We believe Prop 16's proposed collateral factor, 40%, is still too high, given the two concerns that have been raised: a) low spot liquidity; and b) minting collusion.
We favor a lower initial CF.
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4) Going forward, I'd love to see:
a) people implement ratelimits on WBTC entering Compound, which could limit the downside and allow for a higher collateral factor
b) more liquidity for WBTC--both on exchange and in minting
We're happy to help out in any way we can here :)
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Yes, excellent to see Dharma and others outline their reasoning. 🙏
There were some conspicuously large “against” voters who didn’t comment though. Would be curious to know their rationale also.