A couple of weeks ago Mr. W3F ( last 3 letters of the wallet) proposed to lower the minimum collateral ratio of silver and gold. The idea was for sure appealing for all the Degen farmer that could loop the Anchor protocol rewards shorting the less volatile assets listed on Mirror.
This proposal was halted the last day by a big whale that used 4.6 Milion of Mir token to stop this proposal. (detail on request)
Now Mr. W3F is trying again. Good luck!
In my opinion this idea is not good for the protocol because it will cause a huge negative premium on both metals following what has happened to mKO that is trading constantly at -9 % premium ( Means everybody is shorting it ).
Also the timing is particularly bad because Gold and Silver are now almost at their all time highs thanks to the conflict so it would be relatively safe to short them heavily in anticipation to the end of the conflict.
Will the misterious Whale save the protocol again or will the the users be more responsible this time ?
It my opinion a 130% minimum collateral ratio would have been a more sesible bet this time.
We will see.
Would allowing aUST as to long farm help the excess shorting going around? Because of all times, right now is not the time to short silver and gold. What other options are there?
All lowering collateral ratios has done is lead to more degen boxes which is not healthy for Terra longterm.
We should just adjust them back to 130% if they pass.
Lol such a clown. Why don’t he uses the KO for this already? Whatever is stoping him to do this with KO will happen again with IAU and SLV if this is approved. Big no. Thanks.
We should raise MCR of mKO to 130% and lower that of mQQQ to 120%.
Many liquidations will happen if it is raised to 120%. What about those that are 118%? They will be immediately liquidated.
The increase would need to be done incrementally. Like 1% or 2% per week in a series governance polls.
yes please. i’m one of the people affected by the shorting of mKO that’s keeping the premium close to neg 10% and want to get out. it seems people are following degen strategies without understanding some of how Mirror works like when you need to close your position and the affect of premiums then etc…MCR’s should be higher all around to prevent this and perhaps more clear Instruction for people diving into Mirror without much knowledge…