@ExactlyProtocol is voting in its Gov subspace to list
$wARS, a stablecoin pegged 1:1 to the Argentine peso, as a new lending market on Base that users can deposit and borrow but never post as collateral.
wARS is issued through a Ripio subsidiary.
@RipioApp and the EXA Team propose it for
@Exa_App's Argentina and Latam users: fixed-rate peso credit "otherwise scarce and expensive in the traditional system," letting them borrow pesos locally without touching crypto or USD holdings. wBRL and wMXN could follow.
Since wARS never backs debt, a peg deviation "cannot create bad debt through the collateral side of the protocol" - though Ripio controls minting, burning, and pausing, and attestations "mitigate but do not eliminate this."
@chainlink prices the market;
@ABDKconsulting audited the non-collateral code, new to the protocol. One voter called it "Expansion outside of traditional assets."
11 wallets have cast 499,355 EXA so far: 100.0% For, clearing the 100,000 EXA quorum at 499.4%.
Voting closes September 25th at 6:13am UTC.
Proposal:
snapshot.box/#/s:gov.exa.eth…