MCDEX v3 mainnet launch is around the corner. Although v3 is fully permissionless, MCDEX DAO should launch a pool as a benchmark and bootstrap the ecosystem in the early stage.
I propose to appoint MCDEX Foundation as the acting operator for 3 months.
In the early days after launch, it is important to adjust the risk parameters in time according to the market situation. The MCDEX DAO governance process is too long to respond to markets. As a result, I suggest that MCDEX DAO grant MCDEX Foundation with privileges described below:
- Set all the initial parameters of the pool;
- Choose Oracle’s suppliers;
- Change the risk parameters of the pools whenever necessary. Please note the operator can change risk parameters without the pool’s LP governance;
- Propose to change the pool’s original settings through LP governance if needed. For example, the acting operator can propose to change the initial margin rate of the perpetual. Such a proposal shall be approved by the pool’s LP governance before execution;
However, the acting operator MUST NOT add any new perpetual contract to the pool without MCDEX DAO governance.
MCDEX DAO shall grant the privileges through a smart contract and shall be able to revoke the privileges at any time.
I suggest MCDEX DAO add 250K USDC to the insurance fund of the pool.
I suggest MCDEX DAO add 6M USDC to the pool to bootstrap the liquidity. The LP token of the liquidity shall be transferred to the MCDEX DAO vault.