Support Polygon (MATIC) on the Venus Protocol.
A poll for the addition of new currencies to the protocol was recently conducted on our twitter account and the first-place winner is POLYGON (MATIC). We are proposing to support MATIC in Venus Protocol Markets.
As per our risk assessment, we are proposing the following metrics:
Collateral factor: 60%
Reserve factor: 20%
Daily XVS (supply): 25 XVS
Daily XVS (borrow): 25 XVS
Supply limit: No limit
Borrow limit: 10MM $
Venus risk assessment model is following the same practice as Aave risk assessment framework which can be studied here: https://docs.aave.com/risk/asset-risk/risks-per-asset and methodology here: Methodology - Risk
What Is Polygon (MATIC)?
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.
The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.
Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.