Rationale
Pepe is the people’s cryptocurrency
The PEPE team would like to suggest adding support for PEPE on Venus as a collateral asset. The addition of PEPE as an asset for lending and borrowing would create fees, flexibility, yields and other opportunities for Venus users, especially those interested in accumulating more PEPE.
The fundamentals of PEPEs growth are unprecedented. PEPE has been listed on leading global exchanges and has exceeded records of every token in it’s class that has come before it.
Motivation
PEPE continues to further decentralize itself, crossing borders and breaking records with volume and adoption. Adding PEPE to Venus will increase demand for PEPE and expand yield opportunities in new markets on Venus.
With such incredible retail distribution, CEX distribution and multi chain distribution, PEPE is a unicorn level event.
Benefits
This unlocks new DeFi possibilities for PEPE token holders as they can use their PEPE tokens as collateral in the Venus Isolated Markets to access liquidity. Venus will also tap into PEPEs rapidly growing network.
Pepe is listed on Binance, Gemini, OKX, KuCoin, Bybit, Huobi, Mexc, Crypto.com and more.
Liquidity (time of this proposal): $15m+
Summary
This is a proposal for adding borrow/lend support for PEPE on Venus. This would contribute new value to Venus and it’s users.
The factors below are set using the Venus risk assessment framework (Medium) we are proposing the following parameters using jump rate model:
Supply limit: No limit
Borrow limit: 100M
Collateral factor: 55%
Reserve factor: 25%
Guidance on ratios would be helpful.
What is PEPE
PEPE leads the memeFi phenomenon.
Pepe ($pepe) is an EVM based token that launched on April 14, 2023. Following in the footsteps of meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB).
$pepe builds upon the popular “Pepe the Frog” meme created by Matt Furie in the early 2000s. $pepe continues the tradition of giving the control of money back to the people. We’re not here to tell you what money is. We’ll leave that up to you. We’re here to empower you with greater choice, independence, and opportunity, as we continue on our mission to unlock the next era of financial, creative, and personal freedom.
A goal is to target a 10% APY supply rate (given how volatile the markets are).
It’s understood that there is a way to guide that outcome using incentivizes. Feedback on the impact of incentives would be helpful. If community could model ($10k , $25k, $50k, $100k) that would inform best outcomes and possibilities.
Thank you!