[Discussion] Add PAX & BUSD to mstable basket

Any update here? Any reason to delay this?
Let’s get some new stables added asap. :partying_face:

1 Like

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.

2 Likes

hi all

The sUSD vote is now closed and decided “When sUSD stabilises around its US$1 peg”.
how about PAX and BUSD? :yum:

PAX and BUSD users will be able to earn CRV + MTA rewards in Curve.
It’s time to grow TVL. :ok_hand:

1 Like

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?

is it possible?

If we’re gonna list bUSD I’d want us to get something from Binance in return

If possible, BUSD could treat it as awaiting negotiations and wait for the results.
(i think this is better :smiley: )

Right now we’re looking for people to signal their preferences in the poll we added to the original message in this thread.

PAX and BUSD were recently added to the CredEarn platform (it appears Cred is making a play a stableLiquidity for their Visa fast track CryptoBack enablement service [Ternio+Coinbase?]).

They also added USDT-TRC20 (Tron USDT).

I propose that the PAX proceed to a yes/no poll.
If it’s negotiable about bUSD, we shouldn’t vote now.

Let’s increase the TVL.That is the path to increased value for the MTA.
There is no silver bullet.

2 Likes

Yes, let’s get on with it. We need more coins on here so real paying customers can keep using us. Can the smart contract be upgraded to support coins or is it a total migration that everyone has to opt into?

Current thoughts - team is working on a new AMM before adding PAX into the basket (which adds transaction fees/costs on every app function).

1 Like

Thanks for the update. Not what I wanted to hear but at least we know what’s going on now.

1 Like

Thank you.
I respect the priorities of the development team.

1 Like

The current AMM is limiting mStable’s growth potential, I believe the new one will be a way better version with guaranteed liquidity for all stablecoins in the basket - that will further drive platform utility.

The team will share more details soon!

3 Likes

I saw a proposal to remove DAI. Is this a good time to add PAX & BUSD?

I think we are still waiting for the new AMM before adding new basket assets. I am definitely for BUSD and PAX

2 Likes

The only reason I mention it is because there is a plan to remove DAI before the AMM. It seems like the opportune time to add BUSD & PAX but I respect the decision of the admins/devs. I’m just rooting for it!

We definitely need new stablecoins to provide more arb opportunities for traders, and thus more fees for the protocol. PAX & BUSD are good choices.

1 Like

Yeah, definitely something to consider!

Agree with Etienne completely!