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.
Last modified 9mo ago
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