MGP-3┃Create Mimo pool on Market Protocol on Polygon

Summary: We propose to create a Mimo pool on Market Protocol on Polygon.

Rationale: Market Protocol is an authorized fork of Rari Capital. The Market Protocol empowers anyone to create isolated interest rate markets that enable borrowing and lending of any token based asset which supports the ERC-20 specification. Market is currently deployed on Polygon, Fantom, Avalanche and Moonbeam.

Website: https://www.market.xyz/ 2 Documentation: Audit Reports - Market Audits: Audit Reports - Market Twitter: https://twitter.com/market_xyz Discord: market.xyz Medium: https://marketxyz.medium.com/

This proposal aims to create our own Market pool on Polygon controlled by the Mimo governance to allow the DAO and users to borrow against the $MIMO token and MIMO/PAR BPT. On Market, the design of the pool allows borrowing against $MIMO token and liquidity pools but not allowed to be borrowed, this feature is called ‘protected collateral’.

Create a pool on Market gives also the possibility to set the pool in the interest of Mimo and the users, thus, Mimo will be able to choose which tokens could be lended, in collateral, protected collateral, but also curve interest rates and the LTV of each token in collateral.

Tokens included in the Mimo Market Pool are :

• MIMO
• MIMO/PAR BPT
• PAR
• PAR/USDC UniV3 LP
• USDC
• DAI
• FRAX

Mimo Market pool set up:

• As protected collateral

  • MIMO → 60% LTV
  • MIMO/PAR BPT → 55% LTV
  • PAR → 75% LTV
  • PAR/USDC UniV3 LP → 70% LTV

• As collateral:

  • USDC → 80% LTV
  • DAI → 80% LTV
  • FRAX → 75% LTV

Means:

• Human resources: Deploy the pool on Market Protocol. It will take less than 1 hour.
• Treasury resources: There is no cost for the treasury to create the pool on Polygon.

Technical Implementation: Use the Market Protocol sdk to deploy our own pool. The Market pool will be on the Market frontend.

Voting Options:

• Accept to create our own pool on Market Protocol on Polygon
• Abstain
• Refuse to create our own pool on Market Protocol on Polygon

Quorum: 10M vMIMO