Asset Onboarding NRC Template

This template should be used when reviewing asset onboarding proposals.

Date of analysis: 202X-XX-XX

Summary

Provide a brief summary of why you believe the project should be added to Notional either as a collateral asset or as a tradable asset and the potential benefits of doing so. Explain why you think the demand for this asset is sufficient to list it on Notional.

Provide a summary of the conclusions of your asset onboarding assessment (ex: proposed parameters, key risks).

Asset Overview

• Asset symbol: TEST

• Underlying Protocol Name: Test Protocol

• Historical volume (avg. last 30 days): $3.14M

• DEX liquidity (avg. last 30 days): $5.1M

• Market cap: $300M

• Fully Diluted Valuation (FDV): $500M

• Circulating supply: 1,000,000,000

• Total supply: 600,000,000

• Protocol Total Value Locked (if applicable): $750.4M

Economic Risk Assessment

Asset ownership & DeFi presence

Add a graph showcasing the distribution of token holders from Etherscan.

Add a list of the top token holders and comment if applicable.

Add a list of other lending protocols where the asset is listed (Aave, Compound, Maker) and provide a summary of how the asset is generally used in DeFi.

Underlying protocol KPIs (if applicable)

Provide a brief overview of the protocol's main KPIs, such as volume, fees, users, etc.

Token distribution schedule

Provide a summary of the token unlock schedule.

Provide a summary of the asset's tokenomics (ex: Existence of a staking module, Vote-Escrowed module, buybacks & burns, fee distribution etc).

Historical volatility

Add a graph showcasing the asset's daily and hourly returns distribution compared to ETH.

Add a table with the asset's maximum drawdowns over different time periods (1 hour, 1 day, 7 days).

Add a table showcasing the historical and annualized volatility over various time periods (1 hour, 1 day, 7 days, 30 days & 90 days).

Asset liquidity

Add a table showcasing the expected slippage when selling the asset for USDC for different trade sizes (ex: $100K trade, $500K trade, $1M trade). The selected trade sizes for the analysis should be a function of the asset's supply cap.

Add a table of how liquidity breaks down between different DEXs.

Other notable risks

List other notable risks that the protocol/asset is subject to.

Security Assessment

Provide a high-level smart contract risk review, list past audits (identify unsolved issues), and identify notable incidents.

Implementation Review

Identify technical integration challenges.

Proposed Risk Parameters:

Provide a table with the proposed risk parameters with links to the Risk Parameter Selection spreadsheet.

Provide charts of the proposed interest rate curves for Prime Cash and fCash markets.

Comment on the reasoning behind the parameter selection process.