This proposal is to add a BUSD lending pool on the TrueFi protocol on November 16th in coordination with the 5th TRU unlock date.
When analyzing stablecoins to add to TrueFi, BUSD is the leading candidate given that it is the third largest stablecoin with over 6.5 billion dollars in supply. In addition, Binance is the largest cryptocurrency exchange in the world with many pairings versus BUSD. Adding this token to TrueFi can allow borrowers to easily borrow funds and transfer them directly to Binance. For the past year, Binance has been a great partner to TrueFi. Binance was one of the first exchanges to list $TRU, a key source of TRU spot trading volumes, and allows for TRU staking via the Binance UI. We hope listing BUSD will be able to deepen our collaborations with Binance.
Goals of adding BUSD lending pool:
- Diversify stablecoin lending on TrueFi
- Attract attention from BUSD users
- Generate further revenue for the protocol
On launching this new pool, we propose two options to the community for allocating emissions to tfBUSD. The conservative proposal would increase overall lending pool emissions by 5%, targeting 10% APY on tfBUSD @ $50M pool size. The aggressive proposal would increase
overall lending pool emissions by 13%, targeting 10% APY on tfBUSD @ $100M pool size.
This table presents current and proposed emissions (rates in TRU / day):
|Current||Conservative Proposal||Aggressive Proposal|
|Overall LP emissions||244,500||256,500||276,500|
Should TrueFi add a new tfBUSD pool to the protocol?
- YES, I support the CONVSERVATIVE proposal
- YES, I support the AGRESSIVE proposal