Hey everyone, two new proposals will be available to vote for on snapshot. org soon.

10 May 2023, 13:34

Hey everyone, two new proposals will be available to vote for on snapshot.org soon 👍 Please have a read through these and vote if you have veScream when pushed live, thanks!! 🔥 ScrIP-02: Codify Voting Procedures for Scream Summary Adopt voting procedures for Scream voting using veSCREAM on Snapshot. Voting on major protocol changes will stay at 7 days, while voting on parameter changes will be limited to 3 days. Motivation Currently there is no codified voting procedure for Scream’s governance. This proposal seeks to establish one. ScrIP-01 ran for 7 days on Snapshot using veSCREAM voting, so this will be considered the default and will be used for this vote. New Parameters - Protocol-level changes. Essentially, any time a new contract is deployed or added to the protocol, as in the case of adding markets to the unitroller or updating implementations for sTokens or the unitroller. Voting period: 7 days. Vote using veSCREAM on Snapshot space screamsh.eth. - Parameter changes. Changing values for adjustable parameters in the unitroller such as supply cap, borrow cap, and collateral factor (aka LTV). Voting period: 3 days. Vote using veSCREAM on Snapshot space screamsh.eth. These procedures will apply to all votes created after the completion of ScrIP-02’s voting period should it pass. Please vote here: ScrIP-03: Adjust Parameters for wMLP Summary Increase collateral factor for wMLP to 500000000000000000 (50%) Increase supply cap for wMLP to 1_000_000e18 (1 million wMLP) Motivation Following implementation of wMLP and the wMLP market on Scream, less than 20% of wMLP has been deposited to the market, likely due to the initial low LTV. By raising the LTV, this makes borrowing against wMLP a more attractive option, driving borrowing revenue for Scream. The wMLP market and the wMLP pessimistic oracle have been operating smoothly since launch, and GMX’s GLP sees 70% or more LTV on other markets with no issues. Furthermore, by preventing borrowing of wMLP and using a pessimistic oracle, Scream is insulated from many known (and likely unknown) attack vectors with interest-bearing collateral. Additionally, by its nature being a diverse LP basket including stablecoins, wMLP’s price is lower in volatility compared to other crypto assets. Should this vote pass, these changes will be enacted immediately following conclusion of the vote. Please vote here: