Add/Update Collateral Asset

Anyone can submit a proposal to add a new type of collateral assets, update existing risk parameters. The process is the same as submitting any proposal to Acala/Karura network

• Submit a proposal on Acala Network

• Submit a proposal on Karura Network

We will outline specifics of the pre-image proposal regarding to adding a new type of collateral asset as follows

The example below adds DOT as a new collateral asset with the following parameters

• stability fee

• liquidation ratio

• liquidation penalty

• required collateral ratio

• debt ceiling

• DOT collateral auction size

Note: Updating risk parameters for an existing collateral asset uses the same extrinsics, and you only need to input the particular parameter proposed to be changed, while leaving the rest unchanged.

Below is the encoded call data for the above example, you can paste it into Polkadot Web App - choose chain - Developer - Extrinsics - Decode

0x030208680300020101001ede3700000000000000000000000001010000a0d8855734160000000000000000010100004f8c34e81402000000000000000001010000c84e676dc11b0000000000000000010000407ba5f06381960a000000000000670200020b00a031a95fe3