Add KEEP as a Borrowing Asset

Summary

Add KEEP, the Keep Network work token, as a Borrowing Asset on CREAM.

For

Add KEEP as a Borrowing Asset on CREAM with collateral factor 0% and reserve factor 40%.

Against

Do nothing.

Motivation

  • strong demand for borrowing and lending from KEEP tokenholder community
    • 5,000+ KEEP token holders and circulating market cap of $130,000,000
    • active Discord community with thousands of members and hundreds of participation in the Play for Keeps community building competition
    • Keep Network node operators can borrow KEEP to perform more work on Keep Network and potentially earn higher returns
    • holders that are accumulating KEEP to run a node can lend on CREAM in the meantime
    • holders that are accumulating KEEP to run a node can borrow on CREAM to meet the minimum node requirements
    • there are active farming opportunities for KEEP and KEEP liquidity that may motivate KEEP borrowing on CREAM
  • successful first Keep Network application: TBTC, trust minimized BTC on Ethereum
    • 1,000+ holders of TBTC and many more farmers, already approved as collateral on CREAM
    • 400 users minting and redeeming almost 2,000 TBTC with Keep Network
    • 200 operators staking millions of KEEP and bonding 105,000 ETH to secure Keep Network applications
  • safe addition for CREAM if collateral factor is later increased
    • DeFi native token that primarily trades on Uniswap

Background

KEEP is the work token of the Keep Network, a native Ethereum token used for staking and work allocation in the network. The first main project of the Keep Network is TBTC, a decentralized version of Bitcoin in Ethereum. TBTC has already been voted as a collateral in CREAM.

Specification

KEEP token is at address 0x85Eee30c52B0b379b046Fb0F85F4f3Dc3009aFEC on the Ethereum Mainnet. It is a standards compliant ERC-20 token that is not wrapped or bridged. It has no minting, burning, or rebasing functions. Read more about KEEP and Keep Network on the Messari profile for Keep Network.

32 Likes

Additional links

KEEP tokenholder community - https://www.coingecko.com/en/coins/keep-network
KEEP on Uniswap - https://info.uniswap.org/token/0x85eee30c52b0b379b046fb0f85f4f3dc3009afec

9 Likes

Additional links

TBTC, trust minimized BTC on Ethereum - https://tbtc.network/
TBTC stats at https://allthekeeps.com/

10 Likes

I think adding KEEP to CREAM would be great !

9 Likes

Really happy to see a proposal to add KEEP as collateral on Cream.

There are over 5k KEEP token holders. The Keep community is very strong and can bring a lot of value to Cream.

With tBTC v2 in the works Keep is only going to continue to grow and attract new users to the ecosystem.

Hope to see this pass!

8 Likes

I also think this project would be a good addition to CREAM.

The fundamentals & principes of the project, team and the community are very solid.

8 Likes

Yes! Would be a great integration

8 Likes

I run a node in Keep Network and would be keen to make use of this.

9 Likes

This is win-win for Keep and Cream

8 Likes

I support this proposal too

8 Likes

Would be very nice to have KEEP on Cream! I will vote for it.

8 Likes

Agreed that this would be pretty nice. KEEP community is continuing to grow and tBTC v2 would probably take it up a level. Feels like a good first mover advantage to add support now.

11 Likes

Keep Network is one of the projects with the greatest growth potential, has a TVL that has grown rapidly and disproportionately to the token mcap in the last few months, and the team is currently working at full speed to become a multi-chain solution with Celo integration on the next few months.

The addition of KEEP to Cream would be, as others pointed it out, a win-win situation because by enabling users to borrow the token, it would allow many new users to become KEEP stakers bypassing the problem of minimum keeps to be able to stake.

9 Likes

I think this would be great for both communities :100:

8 Likes

This proposal seems like a win-win - Cream users add another productive asset that contributes to TVL, and KEEP users are able to provide their extra KEEP or additional rewards to increase access to the token required to run a tBTC node, supporting further decentralization.

I hope to see this pass, as both communities stand to benefit from this proposal.

9 Likes

As a holder of keep i support this prop and would love to see money legos grow further. Enjoying liq rewards in keep now and growing my stack which I’ll be happy to use in future

8 Likes

Being able to borrow KEEP can be useful to keep stakers or liquidity providers who are rewarded KEEPs. The price of KEEP fluctuates, but if you can borrow KEEP from Cream Finance and sell it on the market, you can “lock-in” a price and hedge yourself against potential price drops. This would result in more predictable returns.

I support this proposal.

9 Likes

I support the proposal, because I am a KEEP holder and I want to take up staking in the future. As mentioned above, this can have a positive impact on reducing risks.

7 Likes

I support this proposal. Keep has been under radar for too long while the growth is steady. Given the current project status and roadmap there is no reason not to believe that the demand for lending/borrowing KEEP tokens will increase substantially.

7 Likes

I’m one of the mainnet staker and I strongly support this proposal. It would be win-win for both KEEP & CREAM.

6 Likes