LBS Blockchain Society Delegate Platform

[ARFC] Add RPL to Ethereum v3

Vote Result: YES

Rationale

RPL is the native governance and utility tokens of the one the largest decentralised liquid staking protocols (and one of the largest liquid staking protocols). Adding it to Ethereum v3 will allow it to be borrowed for voting purposes (governance) and to deploy staking pools (utility). The suggested conservative risk parameters appear sensible in light of the market cap and trading volume of the token, and moreover, are supported by both Chaos Labs and Gauntlet. A couple of risks are that adding RPL in borrow mode may leave it vulnerable to attack vectors given the relatively low trading volume, particularly in light of the low on-chain 24H trading volume of around $720K. Moreover, there is a risk that the Slope2 figure is potentially not high enough to consistently deter borrowing beyond the UOptimal point. However, this is mitigated by Gauntlet and Chaos Labs monitoring the RPL borrow usage and potentially recommending a steeper Slope2 parameter if users borrow close to 100% of total supply.

Therefore, we will vote YES in favour of this proposal.