iBTC and INTR pools on Parallel - Which token pairs?
Ended 1y 6mos ago
closed
Description

Last week, the process of opening the XCM channels with Parallel was started as a first step to create additional DeFi use cases for iBTC, such as borrowing and lending. A prerequisite for money markets, and other interesting use cases, is to have enough iBTC liquidity on the Parallel chain.

Hence, the next step is to create a new iBTC pool on Parallel. Once enough liquidity is built up, we plan to add iBTC as borrowing collateral to the Parallel Money Market later on, once we identify and meet the requirements.

To ensure Parallel users can easily mint and move iBTC over via XCM, INTR needs to be available on the Parallel chain.

Decision to be made: which asset does the Interlay community want iBTC and INTR to be paired with?

As usual, there are a few factors to consider, including liquidity, impermanent loss risk, and diversification of integrations. Please keep in mind that in this particular case, the main goal is to create enough liquidity for liquidations to enable iBTC as collateral for borrowing on Parallel money market. The degree of liquidity in the pool will determine iBTC liquidation capacity which is the single biggest factor for Parallel to calibrate the supply cap of iBTC as collateral.

You can find the top liquid assets on Parallel here: https://analytics.parallel.fi/amm

This poll suggests listing one of the following pairs:

iBTC options

(1) iBTC/sDOT

  • Pros: Most liquid token on Parallel, additional yield from liquid staking
  • Cons: Protocol risk, risk of sDOT depegging from DOT, sDOT yield generation creates ~1% IL p.a. (given constant iBTC price)

(2) iBTC/DOT

  • Pros: Polkadot native (no bridging or protocol risk), 2nd most liquid token on Parallel, highest availability in the Polkadot ecosystem (measured by market cap)
  • Cons: Forgo staking yield when provisioning DOT for liquidity (compared to sDOT)

--

INTR options

(3) INTR/sDOT

  • Pros: Most liquid token on Parallel, additional yield from liquid staking
  • Cons: Protocol risk, risk of sDOT depegging from DOT, sDOT yield generation creates ~1% IL p.a. (given constant iBTC price)

(4) INTR/DOT

  • Pros: Polkadot native (no bridging or protocol risk), 2nd most liquid token on Parallel, highest availability in the Polkadot ecosystem (measured by market cap)
  • Cons: Forgo staking yield when provisioning DOT for liquidity (compared to sDOT)

(5) INTR/PARA

  • Pros: Polkadot native (no bridging risk)
  • Cons: Less liquidity than DOT
Optionsmultiple

Votes·16

wdCy...QWxR
wdCy...QWxR
wdCyGZy6HzrzRbmb2NNfUomMhiXuQX4G8dCJ7niL6VvhZQWxR
INTR/DOT
# 4
1.24K INTR
wdBx...qumb
wdBx...qumb
wdBx9xd8bivTw5UpEdrvFJv7mr1pLf5m8a6Qw2npdzCvCqumb
INTR/DOT
# 4
164.18 INTR
wdCS...frus
wdCS...frus
wdCSoCPenYCT9vdDFVwnAEa24uDyWikA379B5peCYZoaqfrus
INTR/DOT
# 4
256.4 INTR
wd9R...QJZe
wd9R...QJZe
wd9R3jm7J9cbvRzAJoqAaHTSyETArBVtbHDmAXb5t6fPWQJZe
iBTC/DOTINTR/DOT
# 2# 4
192.5 INTR
150
wd8T...BR6x
wd8T...BR6x
wd8TAvHL649SKiQzJmne9Ta2uKSN7jvQVFopkB4G5nngJBR6x
INTR/PARAINTR/DOTINTR/sDOT
# 5# 4# 3
1.02K INTR
wd9x...MkQz
wd9x...MkQz
wd9xdxPgUyjWd6K5x9U24zK8JKHqY3C1f21KjtFhEE2HxMkQz
INTR/DOTINTR/PARA
# 4# 5
17.77K INTR
wdAj...uTfv
wdAj...uTfv
wdAj5KyQdK3qxdJrPRyC8F5u2RinkLPBxEKUTCmB11eX9uTfv
INTR/DOT
# 4
15.61K INTR
wd9z...vGzY
wd9z...vGzY
wd9ziEHFLRgpbZioSii3mc7fGu6PNi58aSDB5PZd2ea9wvGzY
iBTC/DOT
# 2
33.76K INTR
wd8N...8B7B
wd8N...8B7B
wd8NRAfG55pyCEDp7Zj7c2fzsEatHeMkJnhYzNkLsGnJN8B7B
INTR/PARAINTR/DOTiBTC/DOT
# 5# 4# 2
366.26 INTR
wdCc...ohy8
wdCc...ohy8
wdCcyRhqUhK3CUG9j6FVJya71J7rJy14NGoYpphT8Dt7nohy8
INTR/PARAINTR/DOTiBTC/DOT
# 5# 4# 2
366.27 INTR
wd8p...vpHC
wd8p...vpHC
wd8pAfEanz6sDrFv3cQZXEHyEFUYZSfPW9bLT8VWksS2AvpHC
INTR/DOT
# 4
643.19 INTR
wdA6...qcAm
wdA6...qcAm
wdA6RPRivbKoM66yUsgjZvzXPHMgEtWb1UpHurLLDbkZpqcAm
iBTC/DOT
# 2
172.29 INTR
wd96...qtfq
wd96...qtfq
wd96gwhygPEyXTPNC2cs8YuB3pmgN2apqcRNSw7LGEbK7qtfq
iBTC/sDOT
# 1
842.4 INTR
wd94...zNK4
wd94...zNK4
wd9424UkiK7fJWHVxfzwxxdkmRVjau2xF6XV9JuXx6GtvzNK4
iBTC/DOT
# 2
1.61K INTR
wd8B...HwNc
wd8B...HwNc
wd8Bh1zVGErTNeYNKRbnwENfRnUKW36iEPhc624rNMgJLHwNc
INTR/PARA
# 5
183.14 INTR
wdBi...JDJ9
wdBi...JDJ9
wdBiQZXAvkFS3v1653xXZPvKHyHHYzuU3Xt6GRHtDGdc7JDJ9
iBTC/DOT
# 2
12.35K INTR
1

Discussions·0

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1
Information
Snapshot
Assets(1)
INTR
x1
Timestamp
Created
Sep 06 2022 08:47
Start date
Sep 05 2022 23:00
End date
Sep 08 2022 23:00
Results
Voted
86.55K INTR
Voters
16
balance-of
iBTC/sDOT
842.4 INTR
iBTC/DOT
48.82K INTR
INTR/sDOT
1.02K INTR
INTR/DOT
37.63K INTR
INTR/PARA
19.71K INTR
Other
0 INTR
quadratic-balance-of
iBTC/sDOT
29.02 INTR
iBTC/DOT
400.27 INTR
INTR/sDOT
31.91 INTR
INTR/DOT
431.71 INTR
INTR/PARA
217.04 INTR
Other
0 INTR
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