Solving Premiums: One Step at a Time

Solving Premiums: One Step at a Time…

Today I suggest we take a simple step to solve premiums in SOME mAssets. The fix is beyond simple, AND CAN OF COURSE BE CHANGED AGAIN AT ANYTIME.

I suggest lowering the MCR ratio of all mAssets to 130%. This will absolutely solve the negative premium issues plaguing these two tickers.

mKO = -12.80%
mSPY= ~-6.50%

The current 2 governance voteS calling to raise there MCR levels to 130% will DO NOTHING TO THEIR PREMIUMS. After they raise to 130% they will still be lower than any other MCR on the platform. Currently these tickers are being plagued by loopers. why would they stop looping when it is still the cheapest to do on the platform?

How this will fix these 2 mAssets:

Lets be honest. Loopers will never go away. Voting “Yes” will make all MCR ratios equal. This will cause the current sell pressure mKO and mSPY is experience to be spread out to all the other tickers on the ecosystem.

Putting in the gov now. and heck i didnt need 400k of MIR tokens to write this up and submit a vote

EDIT!!!

Symbol :mVIXY

Multiplier: 130 <-Is a mistake

DO NOT HAVE ANY FACTOR IN </THIS GOVERNANCE PROPOSALTHERE IS NO WAY TO CHOOSE ALL TICKERS<

This forum is full of wanna be big-brains who take no action. yall gave over 400K MIR to 4 random dudes who managed to come up with 1 proposal in a month and a half. and it failed… AND THEY ARE REPAYING THEMSELVES… I made an honest mistake. with $1600 of my own capital cause I want this protocol to succed. keep giving yourselfs OTP hanjobs in the corner while you take no action

This is a terrible idea and your poll doesn’t even change the correct parameter.

The poll you posted would require 30% more mVIXY to be used when mVIXY is used as collateral to mint mAssets. Similar to how LUNA and LUNAX require additional value to be posted as collateral compared to UST/aUST, your poll does that for mVIXY.

MCRs should be completely unrelated to the premium. Attempting to modify premiums with the MCR is a quick was to making the protocol insolvent. Vote NO early and often.

there is no modify all assets button… I just clicked a random ticker

i did not mean to modify the parameter premium… I had never done it before it was just relating to the MCR

haha dude, i like the initiative but you are going to lose your deposit on this one…

2 Likes

fuck it these ass holes would rather wine an complain about something that was done in mistake. than rather address the sole underlying issue.

so first off you would need a proposal for every ticker, that’s how modifying things works
second off, there is a Mirror Steering Committee that is setup to help with these types of things
finally, the proposal is working (somewhat) as premiums have reduced significantly today once markets opened

I will submit another right now… with the correct parameters If it can be done with multiple massets at once.

These guys clearly understood what i was trying to do cough cough @0xCoolGuy @Hank-O yet they rather start dissing out insults. It was a mistake. I dont submit parameters everyday.

I think what you are trying to do is ruin the protocol. I’ve been very plain about this. I don’t think you’re evil. I think you’re ignorant, stubborn and incapable of understanding how a lack of collateral could jeopardize the entire protocol.

i honestly wouldn’t bother right now, have you had a chance to listen to any calls from the Mirror Steering Committee? This problem needs to be fixed by getting a better liquidation mechanism like Kuji hooked up to the liquidation process. Then you can lower MCR without destroying people with a 20% liquidation penalty.

dude do you even understand what comes out of your mouth? If i was actually trying to ruin the protocol, how could I not be evil? I think yall not trying to do anything, or taking months to do so is rapidly ruining the protocol anymore than my one governance vote. Please enlighten me how a ~20% reduction in collateral AT MAXIMUM would bring the whole house of cards down

why not bother? they paid themselves a shit ton of money and so far we have zilch to show far it. I am not gonna take a backseat just because they said so?

didnt know that. thats also quite dumb

CDP insolvency is the result of almost every hack on a lending protocol and the underlying problem. Mirror would almost immediately have that problem.

Ironically the crypto assets are the most robust assets on the system since they have a functioning 24/7 oracle, which would allow for far lower MCRs than stock assets. This has all been discussed at length, but it seems you’re unaware of this.

You’ve edited your original post 3 times now. Maybe calm down. Thanks for the free MIR tho.

I’m interested in learning more about the steering committee. Where is their work documented? Where are their discussions happening?

I edited the post out of what you guys said. Now your a dick about it? lmao. thank god bryguy said something about indiviual tickers have to be submitted…

I definitely can make it rain some more on you if thats what you really like. Since all you do is put your nose up and dont do any action

There is a Discord channel where we talk amongst ourselves and with TFL. We post things on the forum. We have posted a single proposal that has failed, and there is currently another post for discussion on the forum about creating a new DEX for Mirror.

they got so much mir they had to pull it out of the governance pool. guys like 0x would like to get paid in your mir for Marketing…

This is completely untrue. Why are you lying?