QIP144: Add mooAaveBTC as Collateral for MAI

mooAaveBTC is a receipt token from Beefy Finance, which autocompounds yield earned on BTC on Aave Optimism. This yield comes from both interest on Aave as well as added OP incentives.

At the time of writing, mooAaveBTC earns 2.90% APY, with $38k TVL on Beefy out of Aave’s $72.39M TVL for this asset.

Proposed risk parameters

• 135% minimum collateral to debt ratio
• Minimum borrow: 10 MAI
• Maximum borrow per vault: 300,000 MAI

*note: mooAaveBTC’s risk rating is a C, mainly due to the Beefy strategy’s recent creation. This strategy exists on other chains (such as Avalanche). Therefore, the risk associated with this strategy is mitigated by the safety history of its counterparts on other chains.

Motivation

• Appeal to the user rush that is currently farming OP incentives on Aave
• Grow TVL on Optimism
• Increase revenue
• Strengthen relationship with Beefy

Quorum Standards

The option with the most votes will be adopted.

Options

• Add mooAaveBTC as collateral
• Further discussions needed

Risk grading: C

https://riskmanagement.qidao.community/en/tokens/mooaavebtc-optimism