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The proposal by MarcZeller to add MAI, a decentralized stablecoin, to the Optimism Aave V3 Market was discussed, with Chaos Labs and Gauntlet supporting it and suggesting risk parameters and caps. The proposal, part of the Aave-Chan Initiative's efforts to diversify stablecoin support, has been escalated to AIP stage for voting.
The discussion revolved around the proposal by MarcZeller to add MAI, a decentralized stablecoin minted by the Qidao Protocol, to the Optimism Aave V3 Market. This proposal is part of the Aave-Chan Initiative's (ACI) efforts to diversify stablecoin support. The risk parameters suggested mirror those used on the Polygon PoS Aave V3 Pool, and the ACI has invited Risk Service Providers to provide feedback on these parameters1.
Chaos Labs expressed their support for the proposal, citing better liquidity on Optimism than on Arbitrum. They proposed matching the reserve factor to that of Polygon at 20% and suggested listing MAI in Isolation Mode to increase the offering of AAVE protocol with more volatile assets. They also recommended a 5% Liquidation Bonus for MAI on Optimism, and supported the proposed initial supply cap of 2.2M and borrow cap of 1.2M2.
Gauntlet's recommendations were largely similar, but they suggested higher supply and borrow caps of 7.6M and 2.5M respectively, and a debt ceiling of $1.9M4. Chaos Labs agreed with these recommendations5.
MarcZeller confirmed that the ACI acknowledged the consensus solution provided by the risk service providers and would soon publish an AIP incorporating them. He also announced that the proposal has been escalated to AIP stage, with voting starting the next day6,7.
The discussion also touched on an update related to the listing of MAI on the Arbitrum Aave V3 Market, as mentioned by Bgdlabs8. The overall consensus was in favor of the proposal, with the final decision to be made through a vote.
Posted 8 months ago
Last reply 6 months ago
Summary updated 2 months ago
Last updated 03/12 08:00