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Red-Bank-Asset-Listing-MIP-Template.md

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Red Bank Asset Listing MIP Template

Preamble

MIP#: <# to be assigned>
Title: <MIP title>
Author(s): <list of authors' names and/or email addresses and GitHub handles>
Contributors: <list of contributors’ names and/or email addresses and GitHub handles>
Tags: <Ticker of asset to be listed>
Type: MIP Type (Red Bank Asset Listing MIP)
Category: Binding (Executable Purely On-Chain) vs. Signaling (Non-Binding Social Consensus Signal)
Status: <Assigned by MIP Editor>
Date Proposed: <yyyy-mm-dd>
Date Ratified: <yyyy-mm-dd>
Dependencies: <List of dependent MIPs if applicable>
Replaces: <List of MIP it is replacing if applicable>

References

  • A list of supporting materials referenced by this MIP.

Summary

  • A short description of the asset to be added to the Red Bank and the reasoning behind adding it. Suggest 30 words max.

Abstract

  • A 2-4 sentence description of the full MIP going through the benefits of adding the asset and by whom and how it will be implemented.

Motivation

  • A short description of the motivation behind the MIP.

New Asset Information

  • Project website.
  • Whitepaper.
  • Project documentation.
  • Communities.

New Asset Market Risk

The following metrics, as defined in the Red Bank Asset Listing Risk Framework:

  • Maximum intraday drawdown.
  • Volatility.
  • 24hr volume.
  • Worst 7-day volume.

New Asset Technical Risk

Links to the following:

  • Audits.
  • GitHub page where source code is hosted.
  • Must contain unit tests and integration tests.
  • On-chain contracts.
  • The hash of the contract binary must match the code on GitHub.

The following metrics, as defined in the Red Bank Asset Listing Risk Framework:

  • Time since launch.
  • Honey pot.

Centralization Risk

  • Smart contracts upgradability: How is the SC upgradable? Is it immutable, DAO upgradable or controlled by a multisig? If it’s a multisig, what does it control and who are the signers? Is there a timelock in place?
  • Team: Who is the team behind the project? What’s their technical and crypto expertise? Have they built something in addition to this project?
  • What is the proposed oracle for the new asset?

Risk Parameters Suggestion

The information provided in the risk sections above should be used to score the asset and provide suggestions for its associated risk parameters, following the methodology provided in the Red Bank Asset Listing Risk Framework. These risk parameters are the following:

  • Loan-to-Value
  • Liquidation Threshold
  • Liquidation Bonus
  • Optimal Utilization
  • Interest Rate Parameters
  • Whether the asset will be usable as collateral

Poll

  • The MRC should contain a link to a pre-existing poll to gather community sentiment for the MRC.

Implementation

  • Describes how the MIP can be implemented or if it was already implemented, how it was done.

Technical Instructions for Submitting a new asset listing proposal**

To submit a proposal a send call needs to be done to the MARS token, sending at least the proposal_required_deposit amount stored (as uMARS or 10 ^ -6 MARS) in config. The msg attribute should contain the submit_proposal receive msg as detailed in the schema.

Note that fields with the “Binary” type (example, msg attribute for a WasmMsg “execute”) need to be base64 encoded.

The proposal messages attribute should contain two WasmMsg “execute” calls in any order:

init_asset call to the red bank with the parameters for how the asset will behave (see schema).

set_asset call to the oracle with the parameters of how the price will be retrieved (see schema).

Licensing

  • Recommended licenses for developed code:
    • MIT: Expat/MIT/X11 license
    • BSD-2-Clause: OSI-approved BSD 2-clause license
    • BSD-3-Clause: OSI-approved BSD 3-clause license
    • CC0-1.0: Creative Commons CC0 1.0 Universal
    • GNU-All-Permissive: GNU All-Permissive License
    • Apache-2.0: Apache License, version 2.0