Babylon Fuse Pool On Rari
Babylon are focused on expanding the utility of our governance token BABL within the DeFi ecosystem.
As a first step, we are creating a Fuse pool on Rari that will allow all BABL holders to deposit their BABL as collateral and borrow stable coins.
What is Fuse
Rari provides individuals and teams with tools to access yield opportunities along with lending and borrowing markets. Fuse is their flagship tool, an open interest rate protocol.
At a high level, Fuse allows you to create your own isolated fork of the compound protocol and select the assets that you want to borrow and lend.
BIP-8
In order to create a Babylon Fuse Pool, the community proposed the idea(BIP-8). It was subsenquently approved by BABL holders.
Then, the treasury deployed an extra 500k of liquidity across the full range of the Uniswap V3 pool. The friends at Visor 🤝 helped them to carry out this task.
Afterwards, the pool was created on Fuse with the folllowing assets:
- FEI
- FRAX
- ETH
- BABL
- DAI
About Babylon
Babylon is a community-led asset management protocol that enables users to create investment clubs (we call them gardens) and invest in DeFi together. It’s built on the Ethereum network and it’s non-custodial, transparent, permission-less, and governed by the community. BABL is the governance token behind it.
Source:
https://medium.com/babylon-finance/babylon-fuse-pool-on-rari-8fc5ce2bde54
