Proposal: Collateralizing VAI with $20 Million in Real World Assets with Credix Finance

TLDR: Snapshot to start the risk assessment and implementation of Credix proposal

Part of our RWA initiative proposal to the Venus community is to perform up to 4 assessments on RWA.

According to our current RWA strategy, onboarding Credix would be in the third prong. As noted by some Venus participants, the protocol is not ready yet to allocate 20M of capital to a RWA. Yet, doing the risk assessment and implementation package will take some time and we expect months of work from the Credix and Steakhouse team. By delaying this part of the work, you might end up not being able to invest in RWA when the protocol will have the funds to be invested.

We have met with Credix team many times and consider their proposal interesting. Credix team feels strong and the asset class is interesting. To be clear we don’t have an opinion yet on the proposal, that would be the result of the assessment. But we are interested to do an assessment on the Credix proposal and report to the Venus community.

Should the community approve, we will work with Credix to perform the assessment and solve any RWA-issue along the way. The goal is to provide Venus community with an assessment and an implementation plan. Then, the Venus community will have the opportunity to vote on execution or not.

PS: For the sake of efficiency, @steakhouse will ask to be added on the whitelist to post snapshot votes in order to maintain transparency and community engagement along the process.

PPS: Snapshot is live, please feel free to vote

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