Listing Meme Coins as Collateral on Paribus

Greetings Paribus Community!

There has been a growing interest in meme coins within the cryptocurrency space, driven by their unique characteristics and often fervent communities.
Despite the inherent risks associated with meme coins, it is worth acknowledging that some of the top meme coins exhibit significant on-chain liquidity.
This liquidity presents an intriguing opportunity for borrowing and lending, particularly when considering the ease of liquidation in the event of over-leverage.

The volatile nature of meme coins may result in more frequent borrowing activities, as traders seek to capitalize on both long and short positions or leverage their NFT assets to engage in more speculative trading strategies. As we contemplate expanding our borrowing and lending markets, it’s essential to consider the potential inclusion of meme coins such as DOGE, Shiba, Pepe, and others alongside more traditional assets.

Therefore, before proceeding with any decisions regarding the listing of meme coins as collateral on Paribus, it is imperative to engage with our community and gather valuable insights. We value the perspectives of our users and believe that community input is integral to shaping the future of our platform.

With that in mind, we invite you to share your thoughts and opinions on whether listing meme coins as collateral is something you would like to see available on Paribus in the near future. Your feedback will play a pivotal role in guiding our decision-making process and ensuring that we continue to uphold the highest standards of safety and innovation.

Thank you for your continued support and participation in the Paribus community.

Sincerely,
The Paribus Team

3 Likes

Hey there Paribus team!

I think that this is great idea considering that trading volume, m caps in those tokens are high and would benefit our protocol also exposure to whole Paribus protocol!

So in short, my answer is yes. I would love to see them on Protocol :saluting_face::clinking_glasses:

4 Likes

I couldn’t agree with you more! It would be wonderful to see meme coins brought in to give the protocol even more exposure to the wider community.

4 Likes

I can’t agree more, it will help bring more liquidity and exposure to the protocol, but reaching out to their communities is just as crucial as listing the meme coin itself :+1:

5 Likes

I am not a crypto native, but I definitely think this is a good idea! I remember that e.g. dogecoin has no built-in defi functionalities. This means that for someone who holds doge, it would be a fantastic opportunity to finally earn an income with their otherwise useless token sitting idle in their wallet.

4 Likes

Sounds like a good move. I would say the more older meme coins like Doge and Shib as opposed to the new ones linked PEPE and BONK at the moment. The older ones are a bit more established and have very good volume and volatility but not wild.

You get my vote on this one!

5 Likes

This is a great thing to be doing. It should give the protocol a much wider exposure, especially if marketed well. I’m totally in favour of this and adding many more traditional coins for use as collateral… I have already voted for DODGE in the Twitter poll.

4 Likes

Im not a meme lover, i only have some from airdrops, but if this can attract mainstream investors, is a good idea.

1 Like