Borrow DAI with new options! Maker: Adds YFI and BAL, YFI debt ceiling almost reached

YFI and BAL loans are now available on Maker.

In September, it was reported that Maker initiated a proposal to include yearn's governance token YFI as collateral for borrowing on Maker. Starting from November 6th, users can now collateralize YFI and BAL on Maker's lending application Oasis.

What are the costs of collateralizing YFI and BAL?

Maker has determined the basic data for collateralized loans through governance voting.

• Stability Fee, the interest required to support the loan
• Liquidation Ratio, the ratio of "required collateral value" to "borrowed DAI debt"
• Debt Ceiling, the amount of DAI that can be borrowed on Oasis
• Liquidation Penalty, the penalty charged on borrowed DAI debt in the event of liquidation

YFI Collateral Almost Fully Utilized, No Interest in BAL

From the current collateralization status, with a debt ceiling of 7 million DAI for YFI collateral, only 10.44 DAI is currently available, indicating that large YFI holders have collateralized and borrowed nearly 7 million DAI for operations. Meanwhile, BAL remains untouched at 4 million, with no one using it for collateralized borrowing.