MIR-17.1┃Choose DAI collateral parameters on Mimo on Ethereum

Summary:

This proposal aims to set parameters for DAI collateral on Polygon.

Rationale:

With the recent vote in favor of integrating DAI as new collateral on Polygon, we need to set the different parameters of this collateral.

We propose :

• Liquidation Ratio: 108%
• Minimum Collateral Ratio:108%
• Debt Limit: 500k PAR
• Liquidation Bonus: 3%

We have considered the DAI risk’s assessment to chose these parameters

(You can find out the risk assessment details of this asset in the previous MIR discussion)

These parameters aim to be balanced for the users and the protocol, but they were also chosen in a low-risk way to be able to run experiment parameters on the pool without possible issues for the users and the protocol given the potential smart contract risks that may exist.

Note that these parameters are likely to be changed in the future according to the first data that we will collect.

Means:

• Human resources: If the proposal is accepted, this will need to add these new parameters to the DAI vault’s smart contract
• Treasury resources: No treasury cost

Technical implementation:

1. Add DAI in the ConfigProvider Contract with all parameters decided by the Mimo governance.
2. Set the chainlink oracle related to the DAI: DAI/USD into PriceFeed Contract

Voting options:

• Accept these new parameters
• Against these new parameters
• Abstain

Authors: @starny & @JeanBrasse from Mimo Labs