Abstract: To ensure XCN parameters are set that are based on market data and security.
Details: This proposal will lower the collateral factor of XCN to 30% to ensure proper protocol security due to low market liquidity in the event of liquidations. This represents a 10% decrease to the current 40% collateral factor. OIP-10 will also add a borrow cap or 90 million XCN so that we can help prevent any malicious borrowing of XCN which can attack the governance module. This proposal will also adjust the liquidity mining incentives to remove the imbalance from borrowing side to the supply side.
No account will be force liquidated due to the change. It’s imperative to run an analysis of collateral factor changes beforehand. We look forward for any community feedback before the deployment of this proposal.
make it happen