The idea is pretty simple and came to my mind when I read all the proposals related to the continuation of UNI Liquidity Mining incentives.
Here is the initial governance post from monet-supply: [Discussion] Uniswap Liquidity Incentive Plan
Here is where we started discussing the following proposal, with lots of positive feedbacks: [Discussion] Uniswap Liquidity Incentive Plan
Instead of incentivizing several pairs of ETH/stablecoin, I propose to reduce the scope to one single pair.
This pair won’t be ETH/DAI, ETH/USDC, nor ETH/USDT.
This pair would be mUSD / ETH.
Why ? mUSD is a meta stablecoin with a lot of cool features built by our friends from mStable (https://mstable.org/):
- mUSD is backed by a basket of whitelisted stablecoins (USDC, TUSD, USDT…),
- You can redeem at any time the constituents of the basket,
- You can also leverage the swap feature between any stablecoin of the basket to provide end users with 0 slippage between USDC and USDT, for instance.
What are the benefits?
- Drastically increase the liquidity to hop in and out of speculative assets in Uniswap, instead of splitting the liquidity into 3 stablecoin pools: DAI & USDC & USDT
- Get access to a meta stablecoin, thus reducing the risk of unpeg
- Leverage 0 slippage swaps between all these stablecoins,
Here is the snapshot page