Expedited mAsset Whitelisting Support

The purpose of this post is to gauge community interest in potentially an expedited process for providing support for new Mirrored assets while they are still the subject of many investors’ attention.

As I am sure many of you know, there has been quite a bit news around concerning GME and AMC. For specific discussion about these types of assets, please here this thread.

The basic idea is to almost simultaneously run both the Whitelist a new mAsset poll and Register whitelist parameters poll. Since as soon as a price feed can be tested and ready, the latter poll can be started.

From a quick chat with the Band team, we estimate that they will likely be able to provide support for the two assets mentioned above by around next Monday. In that case, the feeds will be ready before the Whitelist a new mAsset polls are actually finished.

Given that the latter poll cannot go into effect (even if it passes a vote) without the former vote passing first, I believe that weird edge cases will not arise when one passes and the other fails.

If the following seems to gain decent interest, and both polls pass, the earliest the two assets could go live would be roughly one week from next Monday, which is a rough speed increase of a few days.

Of course there are concerns about MIR reward dilution, order of implementation (other assets have been but have yet to receive an oracle address), etc, so I think it would be good to get a conversation going around about this topic. Let me know your thoughts.

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Personally, I don’t know if GME and AMC are long-term influential investments.

Of course, it could be a good way to invest in various aspects.

Rather than these assets, I think it is right to deal with healthy assets that can help activate Mirror first.

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I maintain my position in the previous Thread [Proposal] Listing viral high trading volume mAssets] : A little PR push can’t do harm to drag users attention to Mirror protocol.

I support the proposition,

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There is no harm in streamlining the process if that can be done safely and not overload the TFL team.

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Upvote for this. Will vote.

as a fully community governed protocol - I understand that safety parameters are important. But I think a provision for quick listing for these assets can really help spur the growth of the protocol and frontrun Mirror’s competitors.

Keep up the great work everyone!

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Seems like a great idea to me. Most mAssets introductions can wait as a rule. A few specific ones like these 2 can go through the expedited route.

The only thing we need to ensure as a community is that we pass such expedited proposals and implement them only under special circumstances and not as a rule!

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I’m ok with the approach and would support this.

We probably need to set the Quorum and MIR deposit higher than regular whitelisting proposals , so that this function is not abused and only requested when there is real demand and urgency.

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This is a rare market event, let’s capitalise on it. I support this.

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The register whitelist parameters proposal for GME and AMC are now live. Given that the whitelist proposal and the register parameters proposal passes, the mirrored version of the assets will be fully functional on Mirror. Band has completed the oracle, and the Terra feeder address has been provided and checked.

For your reference, the poll links are:

mGME

mAMC

Some things to note are:

  1. Given the recent volatility of the two assets, the Min Collateral Ratio has been set to 300% (as opposed to 150% for other non-crypto synthetics). This can be later modified through a vote to lower it once the asset volatility settles down. The Auction Discount is still 20%.
  2. Like here, the feeder addresses are the same, and it is intended and correct.
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I don’t think you want Mirror to have anything to do with this pirate shit or these price manipulated stocks. Forget these short term marketing hacks.

You should be minting the indexes from around the world - SPY/QQQ etc and encouraging people to gamble less/hold and compound more.

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I agree in principle, but in that it shouldn’t be a regular occurrence. These 2 stocks provides a few benefits:

  1. Experiment with listing meme, volatile stocks to see how they would react
  2. Marketing. This has the potential to bring in a lot more people and capitalize on the hype. Mirror is still in an early growth phase and doing this puts Mirror in the spotlight.
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Is it absolutely necessary for 2 different polls to pass before a mAsset is able to go live? It seems implied that when voting to whitelist an asset you support registering it’s parameters.

If a proposal were made that from here on, reaching quorum to whitelist a mAsset also implied registering its parameters, and it passed, could that solve the problem?

@k_p I do, I voted for GME & AMC! It’s not just for marketing but also the principles of right to property and fighting back against the establishment.

We’ve all been contained in a certain financial paradigm manipulated by the wealthy for so long, and if has exerted far too much pressure on the working class. We are seeing the walls of that paradigm crack now and people seeing Wall Street for what it really is. Crypto offers a special type of ownership and liquidity, and when Wall Street walls break I think we will see people diving in.

These listings are really important right now.

The more users that can navigate to MIR the better! I feel MIR will improve long term if more folks have the desire to hold these assets, especially those who’re bored with all the other altcoins and OG coins like XRP/XLM/LTC/BTC/NEO etc. Having all of this on ethereum is huge.

I think if someone can create a video that explains the ins and outs of how MIR mAssets are created would be very useful to gain trust in the system as well – if there is already such a video, let me know and spread that around!

Broader market selloffs in megacaps to pay for their supid gambling in GME. I’d say it’s just getting started, and the awareness push (and the HODL mentality of crypto) would play so well with WSB mentality. Tbh I came for the stonks but stayed for your tech. Impressive stuff going on I would love to have the ability to shout from the rooftops, SCREW THE BANKS BY BUYING OUT OF THE DOLLAR AND INTO A GAMMA SQUEEZE, support Small Tech and DeCen!! Lol UST rocks

This will age so badly you have no idea

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increasing the collateral for these is a good idea.