JP-23: Open MIM-USDT market on Liquidity Book (Avalanche)

High level

There is over 9M MIM issued on Avalanche at the moment, with 40k+ holders and no liquid stable pool on Trader Joe V1 or V2. Abracadabra just deployed magicGLP (GLP auto-compounder) on Avalanche and will likely be getting more active on Avalanche with MIM being at the core of their ecosystem.

We all know how great Liquidity Book is - perfect place to host a MIM-USDT stable pair (.02%) and get that volume and those fees.

Specficiations

Avalanche MIM contract: https://snowtrace.io/token/0x130966628846bfd36ff31a822705796e8cb8c18d USDT contract: https://snowtrace.io/token/0x9702230a8ea53601f5cd2dc00fdbc13d4df4a8c7 MIM coingecko: https://www.coingecko.com/en/coins/magic-internet-money USDT coingecko: https://www.coingecko.com/en/coins/tether

Tokenomics

USDT is a centrally-issued stablecoin by Tether.

MIM is a USD-pegged stablecoin issued by the Abracadabra protocol, backed by interest-bearing assets (learn more: https://abracadabramoney.gitbook.io/learn/tokens/tokenomics#the-mim-token)

Summary

Stable pairs are a great fit for liquidity book and benefit a lot from its capital efficiency; MIM would be a good token to create a market for, consolidating Trader Joe LB as the prime venue for trading stables on Avalanche.