[HIP-31] Updating Opening Ceremony Gauges for MIM and SILO

Proposal ID: S1.7

Introduction  

This proposal seeks to update the initial gauges for two Opening Ceremony participants: MIM and SILO.  

The gauges to be removed are:  

• SILO (Mainnet) / SILO (Arbitrum) - 0.01%  

• MIM (Mainnet) / MIM (Arbitrum) - 0.01%  

These will be replaced with:  

• SILO / ETH - 1% (min width: 1800)  

• MIM / USDT - 0.05% (min width: 480)

Strategic Alignment

This update seeks to kick off collaboration with these Opening Ceremony participants by initially enhancing their existing Uniswap V3 pools on Arbitrum and connecting this liquidity for access across any Ulysses-connected chain. By engaging with the platform, these participants can optimize their liquidity campaigns, creating opportunities for deeper involvement in the ecosystem such as adopting our unified liquidity gauges in the future.

Gauge performance analysis

The existing MIM and SILO gauges have yet to be fully bootstrapped. Creating these new gauges, coupled with public support and communication from the Opening Ceremony participants, will help their communities discover and engage with them.

Market impact analysis

Integrating these gauges has the potential to significantly bolster ecosystem growth. Public support from the Opening Ceremony participants towards these gauges will be instrumental in bootstrapping their liquidity. This process is expected to deepen community engagement, enhance protocol alignment, and attract more activity, ultimately driving more fees through the system as a whole.