Overview
Chaos Labs supports listing wstETH on Venus’s Unichain Core pool. Below we provide our analysis.
wstETH
wstETH is one of the most popular collateral assets in DeFi and is already deployed on multiple Venus pools; we recently recommended listing the asset on the ZkSync Core pool.
Market Cap and Liquidity on Unichain
While there is no contract address provided in the proposal, using the contract address provided on Lido’s governance forum points to a wstETH token with a supply of just 0.0093; there are an additional 0.0095 stETH on Unichain.
Additionally, a review of Uniswap’s UI reveals no wstETH liquidity pools on Unichain.
Listing Parameters
While the current liquidity is not sufficient for a traditional listing, we are able to recommend listing the asset as deposit-only, meaning it cannot be used as collateral and cannot be borrowed.
Should we observe deposits and an increase in on-chain liquidity, we will reassess the asset’s ability to be used as collateral and/or borrowed.
Specification
| Parameter | Value |
|---|---|
| Asset | wstETH |
| Chain | Unichain |
| Pool | Core |
| Collateral Factor | 0% |
| Liquidation Threshold | 0% |
| Supply Cap | 1,000 |
| Borrow Cap | - |
| Kink | - |
| Base | - |
| Multiplier | - |
| Jump Multiplier | - |
| Reserve Factor | - |
Disclaimer
Chaos Labs has not been compensated by any third party for publishing this recommendation.
Copyright
Copyright and related rights waived via CC0