AIP - 39: Seed Jarvis Polygon Pool on Midas Capital

This is a proposal to seed agEUR liquidity into the Jarvis pool on Midas Capital Polygon.

Context The Jarvis pool on Midas is an isolated lending market that focuses on jAssets (Forex tokens) and their LP tokens used as collateral to borrow a variety of jAssets, as well as Euro and Dollar denominated stablecoins.

Jarvis is already collaborating with the Angle team on the agEUR-jEUR LP Token.

Proposal The proposal is to initially mint $50k agEUR into the pool to be collateralized and borrowed by the available collateral in the pool.

Implementation The minted agEUR would be from AMOs.

As any lending AMO, the rationale here is that agEUR minted through that means would not immediately be in circulation, but would only enter when they are borrowed, in which case they would be collateralized by the assets that are used to borrow them.

Value to the protocol Adding agEUR liquidity to the Jarvis pool will allow Jarvis users to borrow agEUR tokens against their forex collateral and go long or short on EUR exposure. Additionally having an agEUR market in the pool, will allow Angle users to collateralize their agEUR tokens to borrow multiple jAssets against their collateral as well! Overall this integration should increase the number of available yield strategies in the Polygon ecosystem, as well as deepen the collaboration with the Jarvis and Midas teams.

Midas will be one of the first places where agEUR is a collateral asset.

Risks This proposal bears a risk of bad debt should positions in the Jarvis pool not be able to properly be liquidated. Midas runs their own liquidator bots and at current levels of liquidity in the Polygon ecosystem, with the proposed amounts the risk of bad debt should be fairly low.

Governance Discussion: https://gov.angle.money/t/aip-39-seed-jarvis-polygon-pool-on-midas-capital/517