MIC Upgrades: Stableswap

Core MIC-USDT Pool Migration to Stableswap

It is clear from the market action over the last month, that XKY pools are not suitable market makers for stablecoins.

The team believes that migrating MIC-USDT to a CRV.finance MIC-3crv stableswap pool would give MITH Cash the best chance of maintaining peg.

Also, as detailed on next page, in order to take the best advantage of the Stableswap , it is optimal to carry out the migration to MIC V2 in such a way as to enter the new Curve pool at a 1:1 ratio. We therefore intend to conduct a one-off rebase of MIC, while maintaining value of MIC V1 holders.