Mantadao - Proposal

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MIP-72

Put 15m MNTA as collateral and mint 100k USK

Completed

Proposer: kujira1q6n...tlg4l0cucz

Proposal Tx 24D8C839F9...BBE2D4CDB2

Execute Tx F5D2E94C81...F49E9E3AC6

This proposal is aimed to start gradually executing action point 1) from https://discord.com/channels/1095005002201833495/1152681232707104818 1) Put 15m MNTA as collateral and mint ~230k USK in fractions, 100k USK each iteration (100k USK mint is embedded in this proposal). That will result in ~5.5% LTV at the current MNTA price. This proposal does NOT imply the consent of the MantaDAO community with any USK use case that was proposed earlier. Several weeks would require to DCA that USK to axlUSDC, so MantaDAO community will have enough time to decide on the proper USK usage.

Total Actual Spending

4,628,537.5 USD

15,000,000.0 MNTA

Date	Amount	Price ($)	Value ($)	Token	Tag
2023-09-19 04:55:22	15.0M	$0.31	4.6M	MNTA	Collateral Deposit
2023-09-18 10:51:41	100.0	$0.99	99.4	USK	Operations
2023-09-19 04:55:22	99.9k	$1.00	99.5k	USK	USK Mint
2023-09-19 04:55:22	100.0	$1.00	99.6	USK	Operations