BackgroundLending protocols are important primitives in DeFi, along with DEX, and have amassed large liquidity, but some problems remain. Existing lending protocols require a governance voting to update any parameters such as collateral factor and assets supported. However, many protocols are still not decentralized and are governed by a few. Even if they were decentralized, the flexibility to change parameters in response to the market would place a heavy burden on governance participants. S...
