Discussion and call for help: VIP-02X Add NSBT and other Waves governance tokens as the new markets at ViresFinance

VIP-02X Add NSBT and other Waves governance tokens as the new markets at ViresFinance

The proposal is to add NSBT as the new market at ViresFinance protocol, but down the line Vires should allow all governance tokens from most prominent Waves based protocols. I think that this should be already done by now. Neutrino community (especially Neutrino Whale Club @PassiveButMassive and @hans_klepitko represent) is commited to fix this as soon as possible. From our preliminary research we draw conclusion that votes will be non issue in case of NSBT. Adding markets could be posted as one or separate VIPs.

We know that there are pressing matters in Vires but allowing essential Waves tokens as new markets will do a lot of good to entire Waves ecosystem. We shouldn’t delay this. We want to add it for recognition, to promote both Vires, Neutrino and Waves as a ecosystem, to increase trust in all relevant Waves based assets, to add more utility to most important tokens. There are only benefits here. individual people will decide what to use as collateral, and which tokens make more sense in this regard anyway.

All main protocols governance tokens from Waves ecosystem are relatively small markets and opening Vires to them shouldn’t cause any negative impact. However, if there is any concern that borrowed governance tokens could somehow affect the health of any of these protocols, we could tweak the following parameters:

  • Collateral Factor
  • Liquidation Threshold
  • Liquidation Penalty

We are open to your suggestions and ready to cooperate.

Summary

This proposal (or posted as separate VIPs) adds seven new markets:

  • NSBT 6nSpVyNH7yM69eg446wrQR94ipbbcmZMU1ENPwanC97g
  • VIRES DSbbhLsSTeDg5Lsiufk2Aneh3DjVqJuPr2M9uU1gwy5p
  • WX Atqv59EYzjFGuitKVnMRk6H8FukjoV3ktPorbEys25on
  • SWOP Ehie5xYpeN8op1Cctc6aGUrqx8jq3jtf1DSjXDbfm7aT
  • PLUTO Ajso6nTTjptu2UHLx6hfSXVtHFtRBJCkKYd5SAyj7zf5
  • PUZZLE HEB8Qaw9xrWpWs8tHsiATYGBWDBtP2S7kcPALrMu43AS
  • TSUNAMI 8t4DPWTwPzpatHA9AkTxWAB47THnYzBsDnoY7fQqbG91

    Also, we would like to ask for help in forming the transaction payload json.

(something like) Transaction Payload (to be set):

{
    "type": 12,
    "version": 2,
    "data": [
        {
            "key": "6nSpVyNH7yM69eg446wrQR94ipbbcmZMU1ENPwanC97g_800_acc_limit",
            "type": "integer",
            "value": 1000000000000(?)
        },
        {
            "key": "6nSpVyNH7yM69eg446wrQR94ipbbcmZMU1ENPwanC97g_850_acc_limit",
            "type": "integer",
            "value": 100000000000(?)
        },
        {
            "key": "6nSpVyNH7yM69eg446wrQR94ipbbcmZMU1ENPwanC97g_900_acc_limit",
            "type": "integer",
            "value": 10000000000(?)
        },
        {
            "key": "6nSpVyNH7yM69eg446wrQR94ipbbcmZMU1ENPwanC97g_950_acc_limit",
            "type": "integer",
            "value": 1000000000(?)
        },
		(...) # needs completion
1 Like

“new markets”, you mean “new collateral” in existing structure, right?

I’m happy to see something positive checking in. I like this, let’s go.

I’ve said before we need most “waves association” related assets on here. It will lock value into waves ecosystem, boosting the peg, and show that WA is more than just a circlejerk of selfimportance. As long as peg isn’t hardcoded like before, the looping won’t cause the same problems.

I suggest seperating them into different proposals tho, one market per proposal. Although I doubt any of these would be rejected, except maybe Tsunami, it would still be good practice to add them seperately so people don’t have to vote yes on something they don’t want, to get something they do want and vice versa.

I also suggest adding a few extra markets other than waves related into your proposals. something like Litecoin as it already have the gateway and is pretty much the same as bitcoin anyway, so I’m not that terrified of security. I’d love to see Doge too, simply to run on its own and Elon Musks name(Since ducks is already trying that anyway, with the Elon duck.), but without the gateway, that’s a bit impossible, so I’d suggest shiba instead. They also seem to want to make more than just a meme.

2 Likes

Yes, new collateral. I used word “markets” same as in the VIP-023

I also think that separate proposals will make more sense here. Starting with NSBT, since it’s a backbone for the whole Neutrino and core of majority of liquidity in Vires.

1 Like

Why isn’t SURF on the list? Right now people can’t do anything except buy it and wait. If they could use it as collateral then they could borrow without having to sell their SURF.

With SURF there is a more significant risk of manipulation. I think it should be excluded from that proposal for now.

1 Like

I think this is a way for whales to lock in the tokens that they cannot exit from and get away with stable coins making vires a worse place, don’t let the whales manipulate you. Let’s add more stable coins.

1 Like

Ah, those evil whales :smiling_face_with_tear: There is no single fatty, that would complain about NSBT performance. The TOP100 rich list is rock solid, not showing any signs of capitulation.

Max Supply: 💎 2,835,679
Total Supply: 💎 2,748,065 | 96.9%
Available to Mint: 💎 87,614 | 3.1%
Staked NSBT: 💎 2,438,500 | 88.7%
Old Staked: 💎 33,359 | 1.2%
WX: 💎 21,701 | 0.8%
ERC-20: 💎 12,183 | 0.4%
CEXes: 💎 8,851 | 0.3%
Swop.fi: 💎 997 | 0.0%
Puzzle: 💎 1,642 | 0.1%
Other: 💎 230,831 | 8.4%

SC Price: 💵 24.31 |🔹4.05
WE: 💵 17.98 |🔹2.80
Swop.fi: 💵 17.90 | 14.86 SWOP
Puzzle Defi Pool: 💵 18.27 |🔹2.95
Puzzle NSBT Pool: 💵 18.09 | 💠 2.20

Market Cap: 💵 49,407,282
Fully Diluted MC: 💵 50,982,490
Total gNSBT unique stakers: 1944
Total gNSBT stake invokes: 6010
Total NSBT returned: 💎 9,537.55

88.7% of all NSBT are locked in gNSBT. Two interesting derivatives are already issued as smart contracts on the Waves ecosystem (sNSBT and sNSBT_TCI). NSBT is the most mature smart asset in the Waves ecosystem and deserves to be treated accordingly, as it is the backbone for all of Neutrino and additionally acts as a safeguard for most of the liquidity on the Vires platform.

Current NSBT/USDN tAPY on WX Pools:
54.67% - 164.02%

Current NSBT/USDN APY on SwopFi:
77.86%

I see NSBT as the best candidate for the new market at ViresFinance. Not to mention that it could also help with the Moon Factor to really kick in properly.

Since the new Neutrino gNSBT system, the NSBT became a much healthier asset and it’s just about time to introduce it to the Vires platform.

1 Like

agree.

Let me ask you something.

Was it stables, or waves tokens. that got looped and caused a liquidity crisis? Oooh, it was waves tokens you say? Then I agree with you, bad tokens, let’s only do stables from now on…

I don’t think SURF would work as collateral. It’s only meant to exist while BR is below 100%… At 115%, all surf will essentially be invalidated, as you exchange it back to contract for 1 usdn… Making a market for a temporary asset, makes manipulation a bit easier.

1 Like

I have a feeling that we are going to lose all the real assets and they are going to replace them with colored chips.

If we are going this way (=still no approach to bring isolated pools/isolated markets), I’d also like to see NSBT derivates like sNSBT since non-borrowed part of the supply could still bring income for the Vires market, similar to other neutrino pools (USDN/EURN and WAVES).

Imagine sNSBT randomly helping you to pay your loan against itself while you still getting APY for borrowed sNSBT. Magic. :man_mage:

interesting

I like this conversation…

Ways to add value and using the waves related tokens. .

We should look at all avenues to make the situation better…

So brainstorming/pre-proposals/ideas are welcome…

Hi, in my opinion, we need sandox with all waves-ecosystem tokens. When one of them gets high attention, we can move it to main section.

issue pointed out in another thread from some time ago.

1 Like

I support this.

Let’s have you create a proposal then