# MIR-10.1┃Choose MaticX collateral parameters on Mimo on Polygon

**URL:** <https://gov.parallel.best/t/mir-10-1-choose-maticx-collateral-parameters-on-mimo-on-polygon/227>\
**Category:** Approved PIRs\
**Created:** [November 14, 2022, 8:35am UTC](https://gov.parallel.best/t/mir-10-1-choose-maticx-collateral-parameters-on-mimo-on-polygon/227 "2022-11-14T08:35:32Z")\
**Posts on this page:** 3\
**Page:** 1

<div class="post-metadata">

**Author:** ![starny](https://dub1.discourse-cdn.com/flex005/user_avatar/gov.parallel.best/starny/32/32_2.png) [@starny](https://gov.parallel.best/u/starny)\
**Post date:** [November 14, 2022, 8:35am UTC](https://gov.parallel.best/t/mir-10-1-choose-maticx-collateral-parameters-on-mimo-on-polygon/227/1 "2022-11-14T08:35:32Z")

</div>

**Summary:**

This proposal aims to set parameters for MaticX collateral on Polygon.

**Rationale:**

With the recent vote in favor of integrating MaticX as new collateral on Polygon, we need to set the different parameters of this collateral.

We propose :

- Liquidation Ratio: 145%
- Minimum Collateral Ratio: 150%
- Debt Limit: 500k PAR
- Liquidation Bonus: 5%

We have considered the MaticX risk’s assessment to chose these parameters

 ![](https://europe1.discourse-cdn.com/flex005/uploads/mimo1/original/1X/f12067064cfd1d978c452345d5f2af3f12184faf.png)

(You can find out the risk assessment details of this asset in the previous MIR discussion)

These parameters aim to be balanced for the users and the protocol, but they were also chosen in a low-risk way to be able to run experiment parameters on the pool without possible issues for the users and the protocol given the potential smart contract risks that may exist.

Note that these parameters are likely to be changed in the future according to the first data that we will collect.

**Means:**

- Human resources: Multisig DAO signers will need to sign and execute transactions to add MaticX as collateral on Mimo.
- Treasury resources: There is no cost for the treasury to add MaticX on Mimo Polygon.

**Technical implementation:**

1. Add MaticX in the ConfigProvider Contract with all parameters decided by the Mimo governance.
2. Set the chainlink oracle related to the UNI: [MaticX/USD](https://docs.chain.link/docs/data-feeds/price-feeds/addresses/?network=polygon#Polygon%20Mainnet) into PriceFeed Contract

**Voting options:**

- Accept these new parameters
- Against these new parameters
- Abstain

Authors: [@starny](https://gov.parallel.best/u/starny) & [@JeanBrasse](https://gov.parallel.best/u/jeanbrasse) from Mimo Labs

_Community poll:_

_Poll ([view on site](https://gov.parallel.best/t/mir-10-1-choose-maticx-collateral-parameters-on-mimo-on-polygon/227/1))_

---

<div class="post-metadata">

**Author:** ![starny](https://dub1.discourse-cdn.com/flex005/user_avatar/gov.parallel.best/starny/32/32_2.png) [@starny](https://gov.parallel.best/u/starny)\
**Post date:** [November 17, 2022, 9:07am UTC](https://gov.parallel.best/t/mir-10-1-choose-maticx-collateral-parameters-on-mimo-on-polygon/227/2 "2022-11-17T09:07:00Z")

</div>

⚡ MIR-10.1┃Choose $MaticX collateral parameters on Mimo on Polygon is now live on Snapshot

The vote started today at 10AM CET and ends the 20th November at 10AM CET.

🗳 Vote here 👇  
[https://snapshot.org/#/mimo.eth/proposal/0x504184dfb8d9f8b81095605af1d1e3d0ab9f7b88625f73a10d8471017b4d52c9](https://snapshot.org/#/mimo.eth/proposal/0x504184dfb8d9f8b81095605af1d1e3d0ab9f7b88625f73a10d8471017b4d52c9)

---

<div class="post-metadata">

**Author:** ![starny](https://dub1.discourse-cdn.com/flex005/user_avatar/gov.parallel.best/starny/32/32_2.png) [@starny](https://gov.parallel.best/u/starny)\
**Post date:** [November 22, 2022, 9:34am UTC](https://gov.parallel.best/t/mir-10-1-choose-maticx-collateral-parameters-on-mimo-on-polygon/227/3 "2022-11-22T09:34:53Z")

</div>

With over 69M votes from vMIMO holders, MIR-9.1 was approved at 100%.

The Mimo DAO will soon implement MATICx as collateral on Polygon with its voted parameters

Result:  
[https://snapshot.org/#/mimo.eth/proposal/0x504184dfb8d9f8b81095605af1d1e3d0ab9f7b88625f73a10d8471017b4d52c9](https://snapshot.org/#/mimo.eth/proposal/0x504184dfb8d9f8b81095605af1d1e3d0ab9f7b88625f73a10d8471017b4d52c9)