Isolated Lending Market for ankrBNB on Venus

Venus Governance Venus - Governance Discussions
1

Summary

Ankr proposes the addition of ankrBNB as collateral to Venus BNB market with the creation of an Isolated lending market.

Background:

Ankr is a decentralized blockchain infrastructure that helps drive the growth of the crypto economy while powering a full suite of multi-chain tools for Web3 users. Our latest partnership with Microsoft and Tencent, helps our ambitions become a reality.

Ankr also has a Liquid Staking Offering where BNB Liquid Staking offers instant liquidity for your staked BNB, enabling you to connect your ankrBNB tokens with DeFi platforms and earn several more layers of rewards increasing the capital efficiency of your stake BNB.

AnkrBNB is a BEP20 reward-bearing token, meaning that the fair value of 1 ankrBNB token vs. BNB increases over time as staking rewards accumulate.

Currently ankrBNB is the leader in BNB Liquid Staking with 83% of the market share.

Benefits:

  1. Facilitates the Leveraging Liquid Staking rewards.
  2. Facilitate Yield Arbitrage opportunities and other Delta Neutral Strategies.
  3. Create additional use cases for BNB token and ankrBNB
  4. Promotes decentralization of the BNB Network.
  5. Allows for the creation of organic demand for BNB lending/borrowing, increasing the utilization rate of the BNB in the Venus pools and increasing the interest rates.

Incentives:

Ankr will be providing ANKR token incentives for several months in order to further boost the understanding and execution of folding strategies with ankrBNB.

Specifications:

Token Address: 0x52F24a5e03aee338Da5fd9Df68D2b6FAe1178827

Price Oracle: Working with Chainlink, Pyth and DIA for the development of a calculated price
feed for ankrBNB

Liquidity:

  • Ellipsis: ~$1.7m in Liquidity
  • Thena: ~$4.4m in Liquidity on multiple pools
  • Pancakeswap: ~$0.2m in Liquidity
  • Izumi: Concentrated Liquidity Pool
  • Wombat: Soon
  • Flash Unstaking: Ankr has a feature that allows users to instantaneously redeem their ankrBNB tokens for BNB

Parameters:

  • Collateral factor 60-70%
  • Deposit cap of $25m (appx 35% of the BNB TVL)
  • Liquidation penalty: 10-15%

Adicional Information:

Documentation: https://www.ankr.com/docs/liquid-staking/bnb/overview/

Audits: Beosin + Peckshield

Bug Bounty: Immunefi

Website: https://www.ankr.com/

Social Media:

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do it! isolated lending to liquid staking is great

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