Freeze MAI/MIMATIC, set LTV -> 0 for Arbitrum, Avalanche, Polygon, Optimism v3
Summary
Given the MAI/MIMATIC drawdown to 0.88 over the past 24 hours, after the July drawdown to 0.94, MAI/MIMATIC has been trading outside of its intended peg to $1. Gauntlet recommends freezing MAI/MIMATIC and setting MAI/MIMATIC LTV -> 0.
Specification
| Chain | Asset | Action |
|---|---|---|
| Arbitrum | MAI/MIMATIC | Freeze Reserve, set LTV -> 0 |
| Optimism | MAI/MIMATIC | Freeze Reserve, set LTV -> 0 |
| Avalanche | MAI/MIMATIC | Freeze Reserve, set LTV -> 0 |
| Polygon | MAI/MIMATIC | Freeze Reserve, set LTV -> 0 |
Implementation
The proposal implements changes on Arbitrum, Optimism, Polygon, Avalanche v3 using the following pre-deployed payloads:
- Optimism:
0x24bdacf6bbebaf567123da16cdb79a266597e92b - Arbitrum:
0xf22c8255ea615b3da6ca5cf5aecc8956bff07aa8 - Polygon:
0x2ee993533a482fe0f22d0fdf1b84ae1a0537e5ed
Changes on Avalanche can be implemented using the pre-deployed steward located at 0xc12ad8b3d242b1eddc1c8319d1d58608e67043ed
Disclaimer
Gauntlet has not received any compensation from any third-party in exchange for recommending any of the actions contained in this proposal.
Copyright
Copyright and related rights waived via CC0.
By approving this proposal, you agree that any services provided by Gauntlet shall be governed by the terms of service available at gauntlet.network/tos.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x13BD...138548 | 108,991 | YAE |
 FranklinDAO (Prev. Penn Blockchain) | 107,209 | YAE |
 0x329c...543eD4 | 106,384 | YAE |
 0xB83b...Fbcf5C | 84,573 | YAE |
 0x62a4...96816a | 81,484 | YAE |
VOTE POWER
Proposal Status
- Sat September 09 2023, 10:46 pmVoting Period Starts
- Tue September 12 2023, 03:19 pmEnd Voting Period
- Tue September 12 2023, 03:20 pmQueue Proposal
- Wed September 13 2023, 03:20 pmExecute Proposal
Current Results
1-YAE
690,524.25
2-NAY
10.238