We’re requesting governedPerspective whitelisting for our self-governed efixDI/USDC lending market on Base. The market is live on mainnet and has a full supply→collateral→borrow→repay cycle proven on-chain.
efixDI is a tokenized share of a Brazilian DI money-market fund (fixed income tracking the CDI rate, ~15% p.a.), issued as a permissionless ERC-20. Each token is backed 1:1 by fund cotas custodied at BTG Pactual under a CVM-registered securitizer (Brazilian securities regulator).
Why this matters for lenders — the D+0 moat
The underlying fund redeems at NAV the same day (D+0). This structurally removes the stuck-liquidation risk that plagues crypto collateral: if a position goes underwater, the liquidator redeems efixDI at full NAV same-day. The collateral’s yield (CDI) is also uncorrelated to crypto markets — a USDC lender earns the spread between the Brazilian risk-free rate and the USDC borrow rate, independent of the crypto cycle.
Market details (Base, chainId 8453)
| Item | Value |
|---|---|
| USDC borrowable vault | 0xe276BB91E0C63C0BC6ABdd3Dc37DF324f90e3956 |
| efixDI escrow collateral vault | 0x008a506c6b6138F47B82f6a0b8Fc7FE375C102e9 |
| Oracle (custom) | 0x9CD219A773d94BBECdD1bb0ae413c45f72737788 |
| Router | 0x5F655525A46B968CF388865CeBC0c0B79A8F8a2b |
| Governor | 0x9040b4E9e1F8C96dC6dEF1a2d6f4105D8535EeD4 (2/3 Safe, Fireblocks-signed) |
Parameters: Borrow LTV 70% · Liquidation LTV 77% · Interest fee 15% · IRM: 0% base → 5% APR at 90% util (kink) → 50% APR at 100%.
Oracle: NAV(BRL) × Chainlink BRL/USD, with L2 sequencer-uptime check + 25h staleness guard (fail-closed). NAV is anchored to the fund’s official cota published by CVM.
Why we need governedPerspective (not ungoverned auto-listing)
We understand ungoverned perspectives reject this market with ORACLE_INVALID_ADAPTER + UNIT_OF_ACCOUNT — there is no Chainlink/Pyth feed for a fund’s NAV, so our custom NAV oracle can never be a registered generic adapter. Renouncing governance (EdgeFactory) clears GOVERNOR/ROUTER but not ORACLE_INVALID_ADAPTER. governedPerspective is precisely the path for vetted custom-oracle governed markets, which is why we’re requesting a manual review here.
Governance & security
- Governor: 2-of-3 Gnosis Safe, Fireblocks MPC co-signed (no hot key holds governance).
- Audit: EfixDIToken audited by OpenZeppelin — 15/15 findings resolved.
- Issuer: EFIX Plataforma de Tokenização e Crowdfunding Ltda · regulated under CVM Resolution 88/2022 + Ato Declaratório 23.635/2025.
- Current state: ~$1.5k collateral supplied, cycle proven end-to-end on mainnet.
Ask
Add the efixDI/USDC vault (0xe276…3956) to governedPerspective so it renders in the Euler app UI and becomes discoverable to lenders. Happy to share our full 1-page dossier and any additional documentation, and to hop on a call.
Contact: ernesto.otero@efix.finance
Thanks!