Seed-deposit requirement for new market listing
BENQI's assessment for RD-F-071 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
No confirmed enforcement of a minimum seed deposit before borrow-enabling in the BENQI codebase. BENQI GitHub (last commit 2023-01-11) does not show post-Hundred-Finance or post-Sonne-Finance mitigations. Protocol docs describe market listing as a governance process but do not specify an enforced code-level seed-deposit threshold. The Sonne Finance post-mortem (May 2024) established that the correct mitigation is to mint-and-burn a small initial cToken supply atomically at market creation — BENQI has not publicly confirmed adoption of this pattern for its existing or new markets. Risk is partially mitigated by the team-multisig governance gate on market listings (not permissionless), but code does not enforce the guard.
Sources #
- URLBENQI — Core Markets ContractsBENQI core markets contracts documentation — governance process for market listing describedretrieved 2026-05-16
- Sonne Finance — Post-Mortem (May 2024)Sonne Finance post-mortem describing correct seed-deposit / mint-and-burn mitigation for Compound V2 fork market initializationretrieved 2026-05-16
- BENQI GitHub — lending/ codebaseBENQI Smart Contracts GitHub — no seed-deposit enforcement code visible in last-committed lending/ directory (commit 2023-01-11)retrieved 2026-05-16
Methodology #
Determine whether market-listing governance or code requires a minimum seed deposit before borrow-enabling a new market.
See the full factor methodology and distribution across all protocols →