MGP-4┃Create Mimo pool on Market Protocol on Fantom

Governance Proposal (PGP) Approved PGPs
1

Summary:
We propose to create a Mimo pool on Market Protocol on Fantom.

Rationale:
Market Protocol is an authorized fork of Rari Capital. The Market Protocol empowers anyone to create isolated interest rate markets that enable borrowing and lending of any token based asset which supports the ERC-20 specification. Market is currently deployed on Polygon, Fantom, Avalanche and Moonbeam.

Website: https://www.market.xyz/
Documentation: Audit Reports - Market
Audits: Audit Reports - Market
Twitter: https://twitter.com/market_xyz
Discord: market.xyz
Medium: https://marketxyz.medium.com/

This proposal aims to create our own Market pool on Fantom controlled by the Mimo governance to allow the DAO and users to borrow against the $MIMO token and MIMO/PAR BPT. On Market, the design of the pool allows borrowing against $MIMO token and liquidity pools but not allowed to be borrowed, this feature is called ‘protected collateral’.

Create a pool on Market gives also the possibility to set the pool in the interest of Mimo and the users, thus, Mimo will be able to choose which tokens could be lended, in collateral, protected collateral, but also curve interest rates and the LTV of each token in collateral.

Tokens included in the Mimo Market Pool are :

  • MIMO
  • MIMO/PAR BPT
  • PAR
  • PAR/USDC Spooky LP
  • USDC
  • DAI
  • FRAX

Mimo Market pool set up:

  • As protected collateral:
    MIMO → 60% LTV
    MIMO/PAR BPT → 55% LTV
    PAR → 75% LTV
    PAR/USDC Spooky LP → 70% LTV

  • As collateral:
    USDC → 80% LTV
    DAI → 80% LTV
    FRAX → 75% LTV

Means:

  • Human resources: Deploy the pool on Market Protocol. It will take less than 1 hour.
  • Treasury resources: There is no cost for the treasury to create the pool on Fantom.

Technical Implementation:
Use the Market Protocol sdk to deploy our own pool. The Market pool will be on the Market frontend.

Voting Options:

  • Accept to create our own pool on Market Protocol on Fantom
  • Abstain
  • Refuse to create our own pool on Market Protocol on Fantom
  • Accept to create our own pool on Market Protocol on Fantom
  • Abstain
  • Refuse to create our own pool on Market Protocol on Fantom

0 voters

3 Likes
2

The vote will started June 8th at 10AM CET and finish June 13th at 10AM CET.

Vote Here :ballot_box::point_down:

https://snapshot.org/#/mimo.eth/proposal/0xc3221fb741c14e4a9e273c389d10648c72f74928bf2ecf79a2b4f778b4643357

1 Like
3

With over 78M votes from $vMIMO holders, MGP-4 proposal was approved at 100%.

The Mimo DAO will create and control his own Market Pool on Fantom.

Results: Snapshot

1 Like