AIP #13.2: 5m MIM Top Up to the $CRV Cauldron

Governance Proposals Voted Proposals
1

TL;DR: Mint 5m MIM to the existing $CRV cauldron to allow new positions to be opened.

Increase Limit

Given the enormous success of our $CRV cauldron, which has been sold out since the 16th of December, the following proposal is to mint an additional 5m MIM to the $CRV cauldron, raising the total borrowable amount of MIM for this cauldron to 15m.

Cauldron Address: 0x207763511da879a900973A5E092382117C3c1588

Previous Limit: 10m MIM

New Limit: 15m MIM

This top up will be executed by the DAO multisigners, if this proposal were to pass, the interest rate discount structure as outlined in AIP #13.1 would continue to apply.

Voting Period

In order to ensure a smooth top up process, the following proposal will remain as an AIP for 24 hours, after which a snapshot vote will be posted and voted on for an additional 24 hours. If this proposal passes, the top up would be executed immediately after.

2 Likes
2

Solid yes on my side. Adding borrowable $MIM to one of the most profitable cauldron in our lineup is a win win, especially given the deep liquidity that CRV has.

Increase protocol revenue, while keeping a managed risk profile is what I want to see the DAO move towards! LFG

2 Likes
3

Agreed. Need to open up access to other MIM soon though. I don’t need to say it loud enough that we don’t need to over extend into one asset. As long as MIM is available for other assets as well I think continuing to slowly raise the CURVE allowance is fine.

2 Likes