Basket Adjustment

Meta Governors can alter bAsset maximum weights according to new market conditions or information.

Meta Governors can alter bAsset maximum weights according to new market conditions or information. Meta Governors control the addition/removal of bAssets and set their maximum weights. A Basket Adjustment occurs when Meta Governors choose to change the maximum weight of a bAsset. Secondly, a basket adjustment can occur when a bAsset is deemed unfit for inclusion. In this case, Meta Governors will be able to remove that bAsset entirely.

Adding bAssets

Meta Governors have the power to vote to add bAssets to a mAsset's contract and dictate its maximum weight.

Removing bAssets

Meta Governors have the power to add bAssets to a mAsset's contract and dictate its maximum weight. The removal of a bAsset is deemed complete when its collateral level and max weight = 0.

Changing Bonding Curve Parameters

Meta Governors have the power to change the parameters which determine the shape of the bonding curve and the prices offered by the AMM.

Setting a Total Value Locked (TVL) Cap

Meta Governors have the power to set a cap to mAsset supply, namely limit the amount mAsset that can be minted.

Note: mBTC is released with a guarded launch procedure, which features a TVL cap that gradually increases over a course of 7 weeks, and then is finally lifted. This is achieved programmatically, and does not require manual intervention. This is done to launch new features in a more secure and limited environment.

Setting Fees

Meta Governors have the power to set the percentage of swap and redemption fees on mAssets.

Note: During the guarded launch, fees on mBTC will start at 20 bps, decrease linearly throughout the period, and settle at 4 bps after 7 weeks.