MGP-8 | Add MIMO token and LP as collateral on the Mimo Midas pool on Polygon

Governance Proposal (PGP) Approved PGPs
1

Summary:

This proposal aims to add $MIMO token and LP on our Midas pool on Polygon.

Rationale:

This discussion follows the previous one: MGP-7

Recently, an isolated market on Midas was created but to be able to add $MIMO in this pool, we had to have a price-feed for it.

The Midas team put us (me and @Jeanbrasse) in touch with an oracle, DIA, which allowed $MIMO and $PAR to get a price-feed on Ethereum, Fantom, but especially on Polygon.

This is why we have made a request to the DIA governance which was accepted and we now have a DIA price-feed for $MIMO and $PAR on Ethereum, Fantom and Polygon.

As protected Collateral

  • MIMO → 25% LTV
  • MIMO/PAR 80/20 BPT → 35% LTV
  • MIMO/WETH Curve V2 Pool → 40% LTV

In order to allow a token/LP as collateral on Midas, an oracle is needed. Below is proposed oracle for each token/LP:

Both $PAR and $MIMO oracle are deployed and can be accessed here:

Polygon: https://polygonscan.com/address/0xd3709072c338689f94a4072a26bb993559d9a026
Fantom: DIAOracleV2 | Address 0xdb547398ba8cbb81e91bc290a70c3588e0d039f7 | FtmScan
Ethereum: DIAOracleV2 | Address 0xc3bd7fe6b4a2fffed28cc7c337da405c504e3074 | Etherscan

The oracle holds both assets, you just need to query for it in the “getValue()” read function with the parameter being either “PAR/USD” or “MIMO/USD”.

Means:

  • Human resources: Verify that the Mimo Midas Capital Pool has correctly added $MIMO assets and LP and that the ownership of the pool has been successfully transferred to the Mimo DAO multisig.

  • Treasury resources: There is no cost for the treasury to create the pool on Polygon.

Technical Implementation:

The Midas team will add $MIMO assets and LP with voted parameters by the Mimo DAO then transfer the ownership of the pool to the Mimo DAO multisig. The Midas Capital pool will be on the Midas Capital frontend.

** Voting Options:**

  • Accept to Add $MIMO assets and LP as collateral on our Midas pool
  • Refuse to Add $MIMO assets and LP as collateral on our Midas pool
  • Abstain

Authors: @starny & @jeanbrasse from Mimo Labs.

Community poll:

  • Accept to Add $MIMO assets and LP as collateral on our Midas pool
  • Refuse to Add $MIMO assets and LP as collateral on our Midas pool
  • Abstain

0 voters

3 Likes
2

MGP-8 | Add $MIMO token and LP as collateral on our Midas pool on Polygon will be live on Snapshot tomorrow

The vote start the 5th September morning at 10am CET and finish the 8th September CET.

:ballot_box: Vote here:
https://snapshot.org/#/mimo.eth/proposal/0x0a2e141f77b7e25ecd46a04c69259d34491d10025cd22539f4584f8dd0295d9e

3

With over 3,6M votes from vMIMO holders, MGP-8 was approved at 100%.

$MIMO and its LPs will soon be add on the Mimo Midas pool !

Result:
https://snapshot.org/#/mimo.eth/proposal/0x0a2e141f77b7e25ecd46a04c69259d34491d10025cd22539f4584f8dd0295d9e