提案名称：允许启用 USDT 作为抵押物
本提案中，核心开发团队提议允许在 WePiggy 借贷协议中启用 USDT 作为抵押物。
注意：本提案讨论期 2 天，正式投票期 2 天。
核心开发团队注意到 USDT 正在逐渐趋于透明合规，因其无抵押随意增发所导致的用户资产损失的潜在风险已大大降低，USDT 已具备成为抵押物的资格。另一方面，启动 USDT 作为抵押物符合广大用户的真实需求。因此，核心开发团队认为应当在 WePiggy 协议中允许启用 USDT 作为抵押物。
USDT 正在逐渐趋于透明合规，并被越来越多的主流金融机构和公司所接受。目前以太坊上不支持 USDT 作为质押物的借贷协议，更多是出于对 USDT 的刻板印象，以及与其他稳定币发行方存在的利益关系。事实上，有很多支持借贷的项目代币，也存在中心化机构发行和代币持仓过于集中所导致的交易对手风险。这一风险甚至远远高于 USDT。
USDT 作为规模最大的稳定币，一直在市场上具有最好的流动性。不仅仅是 Tether 官方负责承兑，无数第三方机构和个人也愿意接受 USDT 的支付和兑换，即使是在极端行情下。
1）今年 2 月，NYAG 宣布和 Tether、Bitfinex 达成和解。两家公司除了要向 NYAG 支付 1,850 万美元的和解金以外，两年内每一季都还必须提交 USDT 的储备金报告。
2）今年 3 月 31 日，Tether 自主性地发布了经会计师事务所 Moore Cayman 认证的查核报告。
3）今年 5月 4 日，以强调合规和安全著称的 CoinBase 正式上线 USDT。至此，所有头部交易所均已支持 USDT。
核心开发团队认为，启用 USDT 作为抵押物切实可行，也具备广泛的市场需求。用户以及 WePiggy 协议因此遭受巨大损失的风险很小。依据 USDT 在整个加密货币交易领域之中所具备的巨大流动性，核心开发团提议 USDT 的相关参数应参考 USDC，即：质押率：80%，清算系数：50%，清算奖励：8%。
WIP11: Allow USDT to Be Used as Collateral
Proposal Number: WIP11
Proposal Title: Allow USDT to be used as collateral
Proposal Author(s): Core Devs
Related Proposals / Dependencies: N/A
Replacement Proposal / Replaces: N/A
In this proposal, the core development team proposes to allow USDT to be used as collateral in the WePiggy lending protocol
Note: The duration of the Proposal Discussion Stage is 2 days, the Proposal Voting Stage is 2 days.
The core development team noticed that USDT is gradually becoming transparent and regulated. The potential risk of user asset loss due to its unsecured additional issuance has been greatly reduced, so USDT has the qualifications to be used as collateral.
On the other hand, allowing USD to be used as collateral meets the real needs of the majority of users.
Therefore, the core development team believes that USDT should be allowed as collateral in the WePiggy lending protocol.
USDT is gradually becoming transparent and regulated, and is being accepted by more and more mainstream financial institutions and companies. At present, Ethereum does not support USDT as a collateral lending agreement,
At present, most lending protocols on Ethereum do not support USDT as collateral, which is more due to the stereotype of USDT and the interest relationship with other stablecoins issuers.
In fact, many tokens that are allowed to be used as collateral, with serious counterparty risks caused by the issuance of centralized institutions and the excessive concentration of token holdings. This risk is even much higher than USDT.
As the stablecoin with the highest market value, USDT has always had the best liquidity in the market. Not only is Tether responsible for the acceptance, countless third-party institutions and individuals are also willing to accept USDT payment and exchange, even under extreme market conditions.
The core development team made this judgment mainly based on the following facts:
1) In February this year, the NYAG’s office announced the settlement, formally ending the inquiry that kicked off in April 2019. Under the terms of the settlement, Bitfinex and Tether will admit no wrongdoing but will pay $18.5 million and provide quarterly reports describing the composition of Tether’s reserves for the next two years.
2) On March 31 this year, Tether has released an assurance report delivered by accounting firm Moore Cayman that shows that its stablecoins were fully backed as of February.
The report is dated February 28 and has an assurance opinion by Moore Cayman that Tether’s consolidated assets exceeded its consolidated liabilities as of the date.
3) On May 4 this year, CoinBase, known for its compliance and safety, officially listed USDT. So far, all leading exchanges have supported USDT.
The core development team believes that it is feasible to use USDT as collateral, and it also has a wide range of market needs
The risk of users and the WePiggy protocol suffering huge losses due to this is very small.
Based on the huge liquidity of USDT in the entire cryptocurrency trading field, the core development team proposes that the relevant parameters of USDT should refer to USDC, which means that the LTV: 80% , the Liquidation Factor: 50% , and the Liquidation Bonus: 8% .
5. Option description
Option 1: For
Option 2: Against