Taking the peg game to the next level!

Hey all
I was trying to post this in governance proposals but i can’t for some reason so here i am posing it here.
We heard talking about how much we spend in bribes to get CRV pools for us … but what if there is another way… a way for us to not have to pay as many bribes… plus increase the treasury.

Hear me out

Abracadabra offers a bonding/TIME esque discount (lets say dynamic percentage) to people who are buying SPELL using USDC/MIM or USDT/MIM LP tokens, Abra takes these tokens to Popsicle to deposit into a SPECIAL V3 pools that earn fees … those fees are split 50/50 to BOTH nICE and sSPELL holders.

This helps with:

  1. The peg
  2. Add more money to treasury
  3. Ofcourse this naturally increases buy pressure on SPELL while reducing the amount needed for bribes on the longer term.

I am no dev and don’t know what this would take to add on Abra … but it might be worth looking at … would love to hear your thoughts @Squirrel @0xWicked and the rest of the abra and ice community!

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Tying MIM to a centralized stablecoin in a large way will lower it’s value. I believe coupling with UST at every opportunity will do more for the protocol stability and decentralization long term.
I think an interest bearing MIM coupled with aUST would be a pretty cool pool to keep in the treasury.

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Issue is that our lovely goverment rather tax us to hell and back as well as over regulate so they can continue to shill for these corporations

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i mean thats how we are operating rn … but yeah UST/MIM pool would be hella cool as well


Both USDT and USDC can have the HODLing wallet(s) frozen. There’s a “kill switch” built into the underlying smart contracts. So no Treasury for a decentralized protocol should ever HODL either. Even DAI isn’t safe, too much USDC and USDT LPs in its Vaults. Gives regulators leverage. UST or aUST would be better.

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USDT execs are under investigations again for banking fraud. While the most ubiquitous its much more risk adverse then other options.