This proposal would increase the collateral factor of FTM (Fantom Token) to 45% on CREAM Ethereum.
With the recent launch of CREAM on Fantom, and the increased cooperation and integration of the greater Yearn ecosystem on the Fantom Network, FTM was recently added to CREAM Ethereum in this vote. Following the addition of FTM, the next step is to increase its collateral factor to allow holders to borrow against it.
Fantom is an EVM-based blockchain that enables high transaction throughput for low costs, and is currently being integrated by several components of the Yearn ecosystem to help enable cross-chain activity. FTM’s token address can be found here . For more about Fantom, see their website here .
Currently, the largest market that allows users to borrow against FTM is Unit Protocol (unit.xyz), but they have hit their debt limit for minting USDP against FTM. Thus, CREAM can capitalize on demand to borrow against FTM and bring holders of FTM to CREAM, driving revenues for lenders and the CREAM protocol.
I propose setting the collateral factor to 45% for FTM; this aligns well with most other alts on CREAM (source).
Increase collateral factor of FTM to 45%.