Ankr proposes to the Raft community the listing of ankrETH as collateral for its CDP.
ankrETH is a form of ETH Liquid Staking from Ankr Staking that offers instant liquidity for your staked ETH, enabling you to connect your ankrETH tokens with DeFi platforms and earn several more layers of rewards with auto-bribes.
Ankr is a leader in RPC nodes with projects like Aave, 1inch and SushiSwap as clients and has TVL across the Liquid Staking Offering with over $50m in TVL for ankrETH alone.
Ethereum Liquid Staking as provided by Ankr Staking offers instant liquidity for your staked ETH, enabling you to connect your ankrETH tokens with DeFi platforms and earn several more layers of rewards.
ankrETH is a reward-bearing token, meaning that the fair value of 1 ankrETH token vs. ETH increases over time as staking rewards accumulate.
This proposal aims to propose the R community to onboard ankrETH as collateral and provide in-depth information for the community to discuss the risk factors of ankrETH for collateral onboarding.
• Website: https://www.ankr.com/
• Documentation: Ankr Staking – Ankr
• Github Page : Ankr · GitHub
• Twitter: https://twitter.com/ankr https://twitter.com/ankrstaking
• Reddit: Reddit - Dive into anything
• Telegram: Contact @ankrnetwork
- ankrETH is the oldest liquid Staking in the market and was created on the 20th of November of 2020
- During this period, ankrETH never had any issues (from slashing, hacks, exploits, etc)
- We are usually the Liquid Staking with the highest APR as we have a very well-optimized node operation and distribute 100% of the MEV rewards we get to our Stakers
- ankrETH has an omnichain presence that allows users to have exposure to ankrETH in multiple chains like BNB, Fantom, Polygon, Arbitrum, Optimism, etc.
- ankrETH is fully redeemable for ETH which lowers the list of this LST compared to others in the space
Ankr charges 10% of the ETH staking rewards earned in the ankrETH staking pool that is split between Ankr and Node Operations
ankrETH has been audited several times by Beosin and Salus! The audits can be found here Audit reports – Ankr
- Ankr had a Peak of $250m TVL across all the liquid staking offerings!
- Currently, we have over $51m in ETH alone which represents more than 31,250 ETH staked from over 5,377 Unique depositors!
- For more interesting data, we recommend you check our Dune Dashboards, dedicated to ankrETH
ankrETH is present in multiple different DEX’s and CEX’s across the ecosystem with millions in TVL and Yield Opportunities for Our Users
- Balancer wstETH/ankrETH on Ethereum - $5m
- Curve ETH/ankrETH LP on Ethereum - $2.4m
- Balancer wstETH/ankrETH on Arbitrum - $3m
- Thena ankrETH/ETH on BNB - $600k
For a complete list of LPs, Use Cases, and DeFi opportunities, visit our DeFi Dashboard
- Depegs: The value of ankrETH although pegged to an ETH value that can be redeemable, is still subject to market forces that might cause temporary depegs from its actual value. From our experience, arbitrageurs are fast to capture this inefficiency but nonetheless, this can cause liquidations to users.
- AnkrETH Liquidations: Ankr is comprised of boosting on-chain liquidity in order to further facilitate liquidations of ankrETH in the case they occur. In addition to this, we recommend a conservative approach so the ankrETH on R can always be liquidated and not pose a threat to the R stability.
- ankrETH is redeemable: Since ankrETH is redeemable for ETH, this facilitates market inefficiencies and makes ankrETH less risky compared to other LSTs in the space
- Smart Contract Vulnerabilities: Although ankrETH has been on the market for over two years without any issues and has been audited multiple times by different audit firms, however there is always the risk of black swan events with vulnerabilities that were not found by the audits or exploited yet.
- Oracles: Any issues with the price oracle of ankrETH might result in wrongful liquidations of users.
Based on this, we propose the R community a conservative approach with the following parameters:
|Minimum Collateralization Requirement||120%||120%||140%|
|Collateral cap||uncapped||20,000 rETH||3,500 ankrETH|
Ankr is willing to discuss the proposed parameters and modify them according to feedback from the Raft team and the R community.