Summary:
This proposal aims to set parameters for rETH collateral on Ethereum.
Rationale:
With the recent vote in favor of integrating rETH as new collateral on Ethereum, the DAO needs to set the different parameters of this collateral.
We propose :
- Liquidation Ratio: 130%
- Minimum Collateral Ratio: 135%
- Debt Limit: 100k PAR
- Liquidation Bonus: 5%
We have considered the rETH risk’s assessment to chose these parameters
(You can find out the risk assessment details of this asset in the previous MIR discussion)
These parameters aim to be balanced for the users and the protocol, but they were also chosen in a low-risk way to be able to run experiment parameters on the pool without possible issues for the users and the protocol given the potential smart contract risks that may exist.
Note that these parameters are likely to be changed in the future according to the first data that we will collect.
Means:
- Human resources: If the proposal is accepted, this will need to add these new parameters to the UNI vault’s smart contract
- Treasury resources: No treasury cost
Technical implementation:
- Add rETH in the ConfigProvider Contract with all parameters decided by the Mimo governance.
- Set the chainlink oracle related to the rETH into PriceFeed Contract
→ rETH-ETH price feed | ETH-USD price feed
Voting options:
- Accept these new parameters
- Against these new parameters
- Abstain
Authors: @starny & @JeanBrasse from Mimo Labs
Community poll:
- Accept these new parameters
- Against these new parameters
- Abstain
0 voters
With over 2.1M votes, $vMIMO holders approved the MIR-21.1