Proposal: Add rETH market


I propose to add a Rocket Pool ETH (rETH) market to the Strike Protocol.


The listing of wstETH has been a great success as it has become our second-largest market within a short period of time. Evidently, there is a lot of utility in using liquid-staked ether as collateral instead of leaving it unproductive in a wallet.
However, Lido is not the only liquid staking provider. Its biggest competitor is Rocket Pool with its rETH token with a market cap of $1.4 billion. It has significant adoption in DeFi, with $130 million rETH supplied to Aave v3 alone.
As a smaller protocol, we cannot compete with lending protocols like Aave on liquidity. Therefore, we have to compete on the variety of assets we offer for borrowing and lending. The first step toward that is to catch up and list the most popular assets we have not listed yet, starting with rETH.

rETH market specifications

The collateral factor should be similar but smaller than that of wstETH, due to its lower liquidity.
The interest rate model should be the same as that of wstETH.

Underlying asset: 0xae78736cd615f374d3085123a210448e74fc6393
Collateral Factor: 70%
ReserveFactor: 20%

Interest model: JumpRateModel

Parameter Value Percentage
baseRatePerYear 20000000000000000 2%
multiplierPerYear 250000000000000000 25%
jumpMultiplierPerYear 6000000000000000000 600%
kink 400000000000000000 40%

Oracle: Chainlink rETH price feed

Please reply with your opinion!

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