List wCELO (wrapped Celo) as collateral asset starting with 0% collateral factor.
The Celo DeFi ecosystem is gaining momentum. We think that this will translate into a strong demand for derivatives in the asset over the next year or so.
Adopting wCELO would be a net positive for everyone. On one hand, it will grow the utility of the token and its value-proposition on Ethereum. On the other, it will be excellent for Cream as it will make it the de facto goto place to borrow/lend the asset. This also allow us (Wrapped) to introduce ourselves to the Cream community and start a relationship to integrate more assets in the future.
wCELO (“Wrapped Celo”) is an asset backed token representing a Celo deposited in an Anchorage vault. The tokens are a 1:1 representation of Celo on Ethereum.
Anchorage is a reputable and qualified custodian. In fact, it is the first and only federally chartered digital bank in the United States. You can find out more about Anchorage by checking out this article
wCELO is an ERC-1404 token. The ERC-1404 standard augments ERC-20 tokens to make them compatible with asset issuance, whether they are securities or asset-backed tokens. In practice this means that, just like USDT, USDC, or WBTC, the issuer (Anchorage) has the power to restrict an address from transferring the asset. This is a potential risk to the protocol.
Both contracts (Proxy and Logic) are verified on Etherscan:
Contract (Proxy): Wrapped: wCELO Token | 0xe452e6ea2ddeb012e20db73bf5d3863a3ac8d77a
Logic: TokenSoftTokenV2 | 0x7aac67b8cb7f39e080672ca6a32f5a6a964c26a4
The Uniswap: wCELO/wETH has about three million dollars ($3M) in liquidity available.
Wrapped.com assets: There are 1:1 asset-backed tokens issued by a qualified custodian (Anchorage)
wCELO: A 1:1 representation of Celo on Ethereum
Token standard: ERC-1404 (ERC-20 for asset-backed tokens)
Token address: 0xe452e6ea2ddeb012e20db73bf5d3863a3ac8d77a