Almost 2 months have passed since Agave was closed, unfortunately this resulted in a worse user experience. Agave was the only lending market where you could borrow efficiently against your GNO collateral. All the other lending markets (spark+aave) only offer isolated markets where you have a very low LTV (Around 30%), you can’t borrow tokens like WBTC/ETH etc. and can only borrow stables.
It makes absolutely no sense that one of the most liquid assets on GNO chain has one of the worst lending markets.
I therefore suggest that we start the immediate procedures to improve the lending market situation.
Agave’s closure makes the borrowing market experience difficult for the user, I agree with your post, the gnosis ecosystem and the platforms present on Gnosis (AAVE + spark) should collaborate together to fluidify and make much more available and liquid the assets on the gnosis chain, particularly the GNO.
Any updates? I checked the LTV factors on AAVE for most of the tokens on other networks, I think the lowest LTV was for CRV (around 30%) which is similar to the GNO LTV right now (after the Mitch leverage fiasco lol!). Imo a LTV 65%+ is absolutely reasonable, I don’t know why Spark and AAVE keep it so low. If I deposit 10k GNO (in $) I can borrow 4k DAI on Spark and 3K on AAVE (with max risk), this is just not capital efficient and worth the risk.
Hi, I get this is a 6 month old conversation now, but just want to point out that PWN is now deployed on GnosisChain and that means GNO is available as collateral for custom terms in a p2p loan against any ERC20.
Would love to work with the community on bootstrapping the liquidity (which can be even committed directly from AAVE’s supply).
Happy to discuss the options here (as there are many).
