Add Alternative Stablecoin to USDT (ie USDC) for Lending

Hi,

is it possible to add Alternative Stablecoins than USDT?

Reason behind this one: it would be interesting to use an audited stablecoin like USDC to be sure on using a FIAT Currency that does not have chances to crash at some point in the future because of potentially unbacked balances…
(dont want to start a discussion about USDT - I like it just enough to use it, but wouldnt trust my life savings on it because there is no audit. On USDC however, there are).

Technically, it is possible. In the other side, It depends on the demand.

At least from my perspective there would be demand. There are incentives to take money I usually would keep safe (“cant-afford-to-lose”-type of money) for decentralized loans on the dex as this makes more sense than getting -0.5% on the Bank Account and I have no middle-man-risk as with Nexo or other platforms.

But in Order to do so, I would personally want to minimize my risk, and as USDT is unaudited there is an unpredictable risk coming with it. It could work fine for the next 2/5/10 years…but even if the probability of all being fine is 99% I wouldnt take that kind of money even to a 1% risk of losing. I might personally over-estimate this though and see the - at least for the time being - issue of usdc not being as much in demand (maybe Dai or usd-n might be an alternative?)

While talking about it - I think adding at least BTC/ETH as lending tokens (not only collateral for borrowing) might make sense as well… Dont know what the green uniswap will be going to offer but I think decentralized loans on TomoDex could use more pairs as this is just huge - at least top10 or those that are listed on the dex already?

Coming from taking a look at Nexo where I could get a fixed 5% APR for lending my BTC or ETH holdings. But would have to deposit them first and being able to do such directly from my mobile/cold wallet without the risk of a middleman would make TomoDex…more awesome and at least give the possibility to take a step towards compound finance market shares :slight_smile:

(Besides the fee issue I discussed a few weeks ago but saw that youre on it at least for the cancellation topic :slight_smile: )

Thanks for your suggestion. Easy to list more tokens in lending. But we need to think about the liquidity.

Maybe we need to issue token for TomoDEX to create more incentive for liquidity provider.

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If it helps to progress this conversation, there’s a bunch of erc-20 coins submitted to Tomobridge since the tomoissuer release. If these could kindly be made available on tomodex? One of the coins is USDC.

Thanks,
D