Add USDK on DMM protocol;
Support mUSDK on DMM protocol.
We propose that the stablecoin USDK should be added to the DMM protocol with a debt ceiling of $xxxx. USDK is a stablecoin issued by PrimeTrust and OKLink. Prime Trust is a technology-driven and regulated United States trust company. OKLink Fintech Limited is a wholly owned subsidiary of OKG Technology Holdings Limited (HKEX: 1499).
With the ability to easily scale USDK up, USDK holders would be able to earn a stable 6.25% APY on their USD. Currently users can easily get USDK on exchanges like OKEx. This will also provide liquidity so the DMM DAO can onboard the next revenue-generating real world asset - two private PC-12 planes.
The passing of this proposal will create the mUSDK token. All necessary logic to trustlessly create the token will automatically execute if this proposal passes. Our plan is to create the proposal to be voted on next week.
We would like to ask the community what we should initialize the debt ceiling to be? Our initial thoughts are between $1mm and $8mm USD. We would like to hone in on the precise number.