AIP #17: Creating the MIM-USDT Overpeg Defense Mechanism (ODM) on Arbitrum
tl;dr In order to ensure that we never overpeg during periods of high liquidations / repayments, we want to mint MIM to create a single-sided Uniswap V3 position on Arbitrum where users can trade 1 USDT for 0.9994 MIM.
Off-Chain Vote
Yes, Create the ODM
2.98B SPELL100%
No, Do not Create the ODM
0 SPELL0%
Timeline
Feb 20, 2023Proposal created
Feb 20, 2023Proposal vote started
Feb 23, 2023Proposal vote ended
Mar 12, 2025Proposal updated