Vote 29: Whitelist MIM-3CRV Convex Strategy for use in Gro protocol

Summary

• The proposal aims to whitelist the MIM-3CRV Convex Strategy for use in the Gro protocol.
• For a detailed description, please refer to the GRFC forum post.

Voting Options

• FOR: Approve the strategy for whitelisting on Gro protocol.
• AGAINST: Do not approve the strategy for whitelisting on Gro protocol.
• ABSTAIN: No opinion on approving this strategy for whitelisting on Gro protocol.

Implementation

• Add the MIM-3CRV Convex Strategy to the list of whitelisted strategies.
• Rebalance the Gro protocol and allocate funds to the MIM-3CRV Convex Strategy.

Pros

• Improved sustainability and favorable risk/reward profile observed over the past 10 months for MIM’s yield and liquidity.
• Enhanced stability of the MIM peg due to the successful passing of the Protocol-owned Liquidity Proposal.

Cons

Whitelisting any new strategies comes with a unique set of risks and security considerations. While MIM did not pass vote 15B in May 2022, a re-evaluation has determined that it now meets the Gro Protocol Yield Strategy framework requirements.

Next Steps

This vote will run for 5 days.

If Vote 29 is passed, the MIM-3CRV strategy will be added to the protocol whitelist, meaning there is DAO authority to allocate protocol funds (within the maximum Vault exposures).

Future strategies can be suggested and voted on by the DAO, and at any time community members can also propose a removal of a strategy from the current whitelist.