QIP117: Add OP as Collateral for MAI
OP is the governance token of Optimism (an L2 chain on top of Ethereum). It currently has a market cap of $116M, with $61M of 24hr volume.
OP has around $5M of onchain liquidity (Optimism), mainly on Uniswap V3.
Proposed risk parameters
- 155% minimum collateral to debt ratio
- Minimum borrow: $10
- Maximum borrow per vault: $500,000
Motivation
- Gain first mover advantage as first collateral use case of OP
- Increase revenue
- Strengthen relationship with Optimism
Quorum Standards
The option with the most votes will be adopted.
Options
- Add OP as collateral
- Further discussions needed
Risk grading: C+
https://docs.google.com/spreadsheets/d/1LhpMiafBa779D_56NIH5lN1ugAaBnvPticoFA01hv6g/edit?usp=sharing
Off-Chain Vote
Add OP as collateral
10.66M QI99.7%
Further discussions needed
31.76K QI0.3%
Timeline
Jul 04, 2022Proposal created
Jul 04, 2022Proposal vote started
Jul 07, 2022Proposal vote ended
May 15, 2024Proposal updated