AIP #15.2 - Increase Stargate POF, minting 4m additional MIMs
Tl;dr Given the great success of POF, allow the protocol to mint 4m additional MIM to be deposited into the POF cauldron, to increase treasury revenues!
Overview:
Current Borrow Limit: 4m MIM
New Borrow Limit: 8m MIM
Additional MIM to be minted: 4m MIM
Methodology
Increase the treasury USDT deposited into the POF cauldron, currently farming at nearly 30% APY, from 1m to 2m.
These funds will be farming with the same leverage as the previous AIP, hence requiring an additional 4m MIM minted to be deployed.
Liquidation price is currently 0.84 cents, and would be maintained stable.
Rewards
Farmed STG tokens can be auto compounded back in the position or left as STG tokens to be kept in the DAO treasury, if market conditions required so.
Voting
Voting will start in a streamlined fashion, Saturday 11/02 at 16:00 CET and last 24 hours.
Option 1: Mint 4m Additional MIM
Options 2: Do not Mint 4m Additional MIM
The proposal has passed! You can check on chain voting here.
