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Magic Internet MoneyMagic Internet Moneyby0x5EeDA5BDF0A647a7089329428009eCc9CB9451ccabracadabradaoeoa.eth

SAIP #61: Add single-sided gmBTC and single-sided gmETH Cauldrons

Voting ended over 1 year agoSucceeded

TL;DR: Introduce two new markets on Arbitrum using single-sided gmBTC and single-sided gmETH as collateral.

Cauldron Parameters: gmBTC: Loan-to-Value (LTV): 85% Interest Rate: 8% Borrow Fee: 0.3% Liquidation Fee: 6% gmETH: Loan-to-Value (LTV): 85% Interest Rate: 8% Borrow Fee: 0.3% Liquidation Fee: 6% Initial Top-Up: Cumulative 4 million MIM across both cauldrons, starting with low six-figure amounts for beta testing, and ability to scale up to 10m.

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6.8B SPELL100%
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Quorum:227%
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Discussion

Magic Internet MoneySAIP #61: Add single-sided gmBTC and single-sided gmETH Cauldrons

Timeline

Dec 10, 2024Proposal created
Dec 12, 2024Proposal vote started
Dec 13, 2024Proposal vote ended
Mar 12, 2025Proposal updated