we could have higher % collateral than eth and dai
My vote was for WBTC. There is no avoiding that BTC is going to be a plurality of the total market cap even though I believe the days of it ever being the majority of total cap are in the past for good.
I dont believe stablecoins make for good collateral, because if the market runs hot there is danger of liquidation and incentivizes TCAP burn… and in general I think we are all long TCAP over the next decade so why even mess with that.
Generally speaking, if BTC is down, TCAP will go down for the day, and vice versa if BTC is up, TCAP will also be moving up, so it is THE ideal collateral in my opinion.
Eventually i would like to see multi-collateral vaults where TCAP is collateralized by a basket of premier crypto assets, but right now a vault with 50/50 BTC ETH would be rock solid when TCAP is minted 1:2.