Using LUNA-UST swap system for MIR-mAssets

The LUNA-UST is working great for creating and fixing the value of stablecoins. What do you think about using the same system for MIR tokens and mAssets? With this swap system users can mint mAssets by the value of the asset in MIR at the oracle price.

Here are some advantages that I see with this new minting system.

  1. Provide a new core use case for MIR tokens
  2. Reduce the premium price of mAssets because arbitrageurs can take UST, buy MIR, mint new mAssets at the oracle price, and sell it on the market for premium price for UST
  3. Can replace the short farm mechanism and reduce the amount of new MIR tokens created

The main risk is that mAssets will be backed by the value of MIR in addition to over-collateralized crypto-assets.
Has this idea be discussed before?

I am for accepting spreads as a natural premium which speculators can use at high risk. I assume that the spread stays wether I sell or buy therefore is irrelevant until reasonable. When unreasonable arbitrageurs step in.
The current mecanism is well integrated in luna when you accept the spread

The spread right now is not unreasonable, but the new mechanism has other advantages. There is talk about how the short farm system is not working and that the value of the MIR token is not high enough. This can help with those two issues.

If a person thinks mir is not high enough he can just buy it :wink:
In my opinion mirror is exceptionally thought. Has a clear domain it is fully decentralized and upgradeable and waits only for third parties using the assets. They are clearly coming. I really suggest to discuss a lot, as we do, but to be patient and assess the impact of the various Mars, levana and so on. Demand of massets will come and mir staked captures a lot of value by design.

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