I’d like to suggest distributing MIM to farmers instead of SPELL. Using the existing mechanisms (bribing,…) MIM has a deep liquidity and proves to be stable also during market swings.
An idea how we could distribute MIM is to actually borrow MIM against SPELL (dogfooding), which would have been otherwise directly distributed. We could set a low ratio (e.g. 10% ? TBD) to prevent instability issues.
As a result we would introduce a new mechanism against “malicious” liquidity miners from dumping SPELL. As a side effect, the protocol would effectively lock SPELL. Looking for opinions before placing a proposal.