IIP-152: Reduce MNY (formerly BASIS-ETH) reinvestment frequency

IIP: 152
Title: Reduce MNY (formerly BASIS-ETH) reinvestment frequency
Status: Proposed
Author: @afromac
Reviewer: @DocHabanero , @allan.g , @richard
Gov Review: @sixtykeys
Created: 21st April 2022

Simple Summary

The Product Pod would like to change the reinvestment interval in BASIS-ETH proposal ahead of launch.

Abstract

In the original IIP for launching BASIS-ETH (now MNY), the following reinvestment schedule was proposed:

  1. Accumulated USD yield is auto-compounded into the core position with the funding rate payment every 8 hours.

After further analysis and discussion, we would like to propose that this be revised to:

  1. Accumulated USD yield is auto-compounded into the core position every 7 days.

Reducing the reinvestment frequency lowers the cost to transact for the product and leads to a greater performance over time.

Voting

FOR
Reduce the reinvestment interval in MNY (formerly BASIS-ETH)

AGAINST
Do not reduce reinvestment interval in MNY (formerly BASIS-ETH)

Author Background and Commitment

The Product Pod is responsible for designing, developing, and deploying index products for the Index Coop, as well as managing and maintaining products post-launch. Core team members of the Product Pod have also been supporting, operating, and refining Set’s leverage token infrastructure for over a year.

Copyright

Copyright and related rights waived via CC0 .

2 Likes

Hi @sixtykeys please assign an IIP number. Can we schedule vote to run on Monday 25th at 6pm GMT

Hey @afromac for future reference, please tag the @GovNest account for any IIP related requests. Guidelines on how to interface with the account can be found here.

An IIP number (152) has been assigned, and this proposal has been queued to go live at the requested date, 25th April 2022 @1800 UTC.
Snapshot here