Add goMINT token into lending market

I think it would be a good idea to add goMINT token with 0% collateral value. this adds no harm or risk. it would benefit Algofi by getting more tokens to available into lending market. those who believe in goMINT will get yield to their positions and those who want to short can do that. So it adds goMINT token liquidity and makes more options available to Algofi.

I think this is nobrainer in a way that it will only add positive value to Algofi lending market and also for goMINT token and Algorand blockchain.

What do you think? you see any downsides that I can’t think of?

Best regards,

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here are the parameters for assets to be considered even with collateral factor 0. it would be easy to force liquidations on people borrowing goMINT and that would be bad. besides goMINT has absolutely no usecase right now which makes it not a good candidate imo


You have good valid points (Y).
my idea was to increase options in this platform and that way gather more traffic because this platform needs more options and traffic, so we have to manage that somehow. If asset has no use cases right now doesn’t make it obsolete option. Because future potential itself is valuable, like this platform’s future.
And this case goMINT is token “behind” (project token) goBTC and goETH.

And we can’t be dependent on CEXes. One way to manage price manipulations, is that community treasury takes some position on newly added tokens (in this case goMINT) for some time and uses it as a primary source to cover possible liquidations and exchanges as a secondary. this reduces the impact of possible price manipulation/ short squeezes in the market. Of course it is still possible, but some what smaller.
Having said this, I think we are still too small for this, but hard to say because treasury info is not transparent/public…

Anyway if this is not desired or even possible token to add. I understand that and I fully understand the concerns. But I hope this community finds a way to navigate thru that fine line of security and growth. Security is crucial and very important aspect, but that can’t be the argument to reject all the proposals and new tokens, because that leads in a situation where we are the last one to implement new tokens and ideas because we want to someone else to do the raincheck on our behalf. Leads to situation where we are the industry laggers. So we have to be smart enough to find a way to overcome this issue. And I do not mean, we should take all the possible tokens into this platform but most promising ones ( after thorough checks of course).

What would be the use case for a borrower? Why would someone want to borrow goMINT?

Agreed with @lobo - until goMINT has some utility, the only use case for anyone wanting to borrow goMINT would be to short it, but then you’d have to rely on goMINT LPs, which are pretty thin already.


I think this is solid in principle because why shouldn’t we want to include those entities that help bring in other big market cap crypto liquidity to the protocol? But, as @jkim2297 and @lobo pointed out, I don’t see a valid use case for goMint except for the following.
If we think of goMint like a share that votes in a corporation, goMint and its holders should be able to profit or otherwise benefit for being a custodian/bridge that allows BTC and ETH to be used in the Algo environment. If they wanted to, goMint users through governance can vote on things like raising fees, or lowering fees, or asking for goMint holders to inject capital when needed, or give dividends when allowable. So, if people holding goMint want to do governance things, they hold. If they only want instant profit, they sell or lend to those who want to do governance things.
I’m not sure if it is implementable, but this is as far as I’ve thought it through.

I think a goMint farm pool would be good vs a lend/borrow market. There was a farm pool previously. Maybe a goUSD lend/borrow?

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until algomint implements some actual utility for the goMINT token sth like a farm would be a waste of BANK emission imo

a goUSD pool makes only sense if its more than a USDC wrapper. they have sth on testnet to wrap also bridged stabelcoins into goUSD which is a good idea imo, but we should wait till its on mainnet and see if its getting used


For a goMint farm, I was thinking gomint as the reward vs Bank. The old pool was goMint and Algo. I offer this as an alternative to a proposal for lend/borrow goMint.

For goUSD I agree that we should wait until it is more than USDC.


This is an easy no vote. There is no utility tied to goMINT. It’s a governance token, but what exactly is governed? Until the project evolves and grows I don’t see how this can even come close to becoming a legitimate discussion. Apologize to any goMINT fans for the direct opinion.