I’d like to propose that PAX and BUSD both be added to the mstable basket. Both are trusted treasury model stablecoins that have the ability to redeem 1:1 for fiat dollars through paxos.com. They should hold the peg nicely.
0 voters
Agree @savannah, it’s a popular idea, rather liquid stablecoins in CeFi, with Binance increasing its presence + BSC, BUSD/PAX will definitely have increasing importance in the ecosystem and would be helpful to boost TVL
I think this a great call. Another one people are asking about it HUSD. What are your thoughts here? Also @savannah any thoughts on what max weights should be?
Just voted really like this idea
Max weights is a tricky and I don’t know that I can weigh intelligently on that. USDT is the oldest but most questionable if the peg will fail. I’d perhaps like to see a max weight of 1/3 assuming these other coins get added. That’s my biggest complaint overall, is that mUSD is too overweighted in tether.
But another idea is to put a max weight to 40% on all coins. Even if 40% goes to USDT and 40% goes to USDC, it will force at least 20% into the other (soon to be) 5 coins.
You all, especially admins, can chime in better about what the original intent was/is regarding max weights.
Thanks @savannah
There is an issue with max weights below 50% when there are several stablecoins, specifically in reference to multi-redemption (if there are 6 stablecoins gas is super expensive in a multiredeem)
If we keep the max weights at 55% for all assets it means that the gas issue is mitigated but clearly the trade off is accepting more exposure of any of the underlying stablecoins (USDT a lot of the time it seems)
I think just adding assets without changing any max weights is a significant improvement and will bring more utility, exposure, and swaps to the platform. Good thought on keeping the gas costs down. I don’t know anything about how gas costs get impacted.
I agree I think adding more stable coin options would bring new users and increase the TVL.
I’m not a fan of Binance & BUSD, but I voted to include it as well as Pax.
I saw on the community call that it was mentioned that sUSD is one of the proposals to be added to the USD basket but not PAX, BUSD, and HUSD. Does that mean this proposal is dead? I see my title was edited to [Discussion].
Is there any downside to adding 3 stablecoins that are issued by one company for branding purposes? I see risk in stablecoins with unconventional ways of holding the pegs but not in this case where the reserves are backed 1:1 in a trust company.
However, I see that paxos.com only supports PAX and BUSD. It does not support HUSD natively which I think could be a reason not to list it for now…still I voted for it to be added because I think all the coins should be added…but I don’t know if there is a downside to having too many coins in the basket.
As of now, the market caps of each coin seem to be:
PAX: 232M
BUSD: 415M
HUSD: 147M
For comparison:
sUSD: 74M
Thanks for your time and consideration. I really like Paxos because they are the only company that can go from wire transfer IN to stable coins OUT (in your own wallet) in 60-90 minutes. Same on the redemption side. (That’s from the moment they receive the wire–USA wires are near instant whereas international wires can take a few days and there are time zone considerations).
@savannah This proposal isn’t dead, it’s WIP, and there will be an active signaling request every week.
Once governance/v1 staking is live, it will be moved into off-chain voting as these are very important considerations that MTA token holders must vote for, not just a simple forum voting (which is used more as a signaling tool).
If we’re gonna list bUSD I’d want us to get something from Binance in return… 
I don’t mind that idea but I want PAX added ASAP because I use it. haha
But if we can bring swap value to the platform that would be a great idea that benefits SAVE.
BUSD is issued by Paxos too, with probably added liquidity when Binance comes full onboard onto DeFi
I say add it all 
Not heard of HUSD, but just looked it up. It’s based out of Los Angeles, CA, but most of its uses have been in Asia exchanges. Their user agreement states that its actually Paxos that hold their 1:1 money in NY. Damn…Paxos is everywhere.
Any update here? Any reason to delay this?
Let’s get some new stables added asap. 
This proposal should be put to a governance vote once we finish the sUSD vote.
As we are currently in a governance transition phase, we expect the development team to facilitate this process.
My personal opinion is that there is less precedent for adding currencies to a running contract, so we should proceed with an appropriate QA period.
example, It would be better to open up a week to add one contract at a time to spread the risk and have a better publicity effect.
hi all
The sUSD vote is now closed and decided “When sUSD stabilises around its US$1 peg”.
how about PAX and BUSD? 
PAX and BUSD users will be able to earn CRV + MTA rewards in Curve.
It’s time to grow TVL. 
We’ll be promoting the Active Signal on this thread in just a few hours, with an aim to send this to a Snapshot poll later this month.
How to vote? We’ve already voted? Or you opened it back up for further votes?