MakerDAO added LRC, COMP and LINK as collateral for Dai through voting.
LRC is Loopring of ERC20 Token, based on Ethernet Square to the center of dealmaking protocol block chain. COMP is Compound's ERC20 Token, a mortgage lending platform running on the Ethereum blockchain. LINK is Chainlink's ERC20 Token, a distributed oracle solution that provides off-chain data to smart contracts.
Now, users can open the Maker vault through Oasis.app to mortgage LRC, COMP and LINK to generate Dai.
Execute voting record
https://vote.makerdao.com/executive-proposal/approve-september-2020-governance-cycle-bundle--september-28-2020
LRC risk parameter details
Debt ceiling: 3 million Dai
Borrow Dai interest: 3.25%
Liquidation mortgage rate: 175%
Initial Dai minimum amount: 100 Dai
Auction quota for each batch of collateral: 50,000 Dai
Minimum bid increase for collateral auction: 3%
Auction duration of each batch of collateral: 6 hours
Maximum duration of mortgage auction: 6 hours
Liquidation penalty: 13%
COMP risk parameter details
Debt ceiling: 7 million Dai
Borrow Dai interest: 3.25%
Liquidation mortgage rate: 175%
Initial Dai minimum amount: 100 Dai
Auction quota for each batch of collateral: 50,000 Dai
Minimum bid increase for collateral auction: 3%
Auction duration of each batch of collateral: 6 hours
Maximum duration of mortgage auction: 6 hours
Liquidation penalty: 13%
LINK risk parameter details
Debt ceiling: 5 million Dai
Borrow Dai interest: 2.25%
Liquidation mortgage rate: 175%
Initial Dai minimum amount: 100 Dai
Auction quota for each batch of collateral: 50,000 Dai
Minimum bid increase for collateral auction: 3%
Auction duration of each batch of collateral: 6 hours
Maximum duration of mortgage auction: 6 hours
Liquidation penalty: 13%
The Maker protocol is highly flexible. Almost any tokenizable asset can be used as a candidate collateral, as long as it has appropriate risk parameters and is approved by Maker's decentralized governance.