Freeze MAI/MIMATIC, set LTV -> 0 for Arbitrum, Avalanche, Polygon, Optimism v3

Summary

Given the MAI/MIMATIC drawdown to 0.88 over the past 24 hours, after the July drawdown to 0.94, MAI/MIMATIC has been trading outside of its intended peg to $1. Gauntlet recommends freezing MAI/MIMATIC and setting MAI/MIMATIC LTV -> 0.

Specification

Implementation

The proposal implements changes on Arbitrum, Optimism, Polygon, Avalanche v3 using the following pre-deployed payloads:

• Optimism: 0x24bdacf6bbebaf567123da16cdb79a266597e92b
• Arbitrum: 0xf22c8255ea615b3da6ca5cf5aecc8956bff07aa8
• Polygon: 0x2ee993533a482fe0f22d0fdf1b84ae1a0537e5ed

Changes on Avalanche can be implemented using the pre-deployed steward located at 0xc12ad8b3d242b1eddc1c8319d1d58608e67043ed

Disclaimer

Gauntlet has not received any compensation from any third-party in exchange for recommending any of the actions contained in this proposal.

Copyright

Copyright and related rights waived via CC0.

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