Proposal 5 - Add Midas Vaults to Backing Reserve Distribution & Max Allowances

General
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Summary

This proposal seeks to include Midas mMEV, Midas mAPOLLO, Midas mRe7Yield in the USP backing strategies by adding it to the reserve distribution and max allowances list. Integrating Midas vaults will diversify USP’s collateral base while maintaining stability and enhancing yield opportunities for the protocol.

Rationale

USP’s long-term stability depends on a diversified and resilient reserve. Adding Midas vaults strengthens the reserve framework by introducing a new yield-generating asset that complements existing stablecoin-based reserves.

By listing Midas mMEV, Midas mAPOLLO, Midas mRe7Yield under both the max allowance framework and reserve distribution, USP can safely and transparently integrate this new strategy into its collateral structure.

USP Max Allowance Additions

RATE CRYPTO / STRATEGY TYPE DETAILS
10% Midas mMEV On-Chain midas.app/mmev
10% Midas mAPOLLO On-Chain midas.app/mapollo
10% Midas mRe7Yield On-Chain midas.app/mre7yield

USP Reserve Backing Distribution Table Additions

RATE CRYPTO / STRATEGY TYPE DETAILS
2.5% Midas mMEV On-Chain midas.app/mmev
2.5% Midas mAPOLLO On-Chain midas.app/mapollo
2.5% Midas mRe7Yield On-Chain midas.app/mre7yield

Before

RATE CRYPTO / STRATEGY TYPE DETAILS
50% BMMF Turkey Stablecoin FX Arbitrage Strategy On-Chain balsafinance.com
10% Ethena sUSDe On-Chain ethena.fi
10% USD AI sUSDai On-Chain usd.ai
10% Giza Arma Agent On-Chain arma.xyz
10% Almanak Autonomous Liquidity USD On-Chain almanak.co
5% Aave aUSDT On-Chain app.aave.com/reserve-overview
2.5% Cap USD cUSD On-Chain cap.app
2.5% Cap USD stcUSD On-Chain cap.app

After

RATE CRYPTO / STRATEGY TYPE DETAILS
50% BMMF Turkey Stablecoin FX Arbitrage Strategy On-Chain balsafinance.com
10% USD AI sUSDai On-Chain usd.ai
10% Giza Arma Agent On-Chain arma.xyz
10% Almanak Autonomous Liquidity USD On-Chain almanak.co
5% Aave aUSDT On-Chain app.aave.com/reserve-overview
2.5% Cap USD cUSD On-Chain cap.app
2.5% Cap USD stcUSD On-Chain cap.app
2.5% Ethena sUSDe On-Chain ethena.fi
2.5% Midas mMEV On-Chain midas.app/mmev
2.5% Midas mAPOLLO On-Chain midas.app/mapollo
2.5% Midas mRe7Yield On-Chain midas.app/mre7yield
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GM, this is Pratik Kala, Head of Research and Portfolio Manager at Apollo Crypto. We are very happy to be a consideration as part of this proposal and would love to support Piku DAO going forward.

We’ve been running institutional grade delta-neutral strategies for >5 years. We are one of the few funds that is 100% onchain and completely transparent which we hope will be appreciated by Piku DAO and its community.

Looking forward to participating and contributing more here :handshake:

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GM Pratik :sun:

We appreciate Apollo Crypto’s engagement and transparency, exactly the kind of alignment PikuDAO values in its reserve partners. The proposal to include Midas vaults (mMEV, mAPOLLO, mRe7Yield) is grounded in strengthening USP’s reserve resilience through onchain, verifiable yield sources and Apollo’s track record in institutional delta-neutral strategies makes this integration even more compelling.

We look forward to working closely with the Midas and Apollo teams to ensure seamless inclusion within our max allowance and reserve distribution framework, keeping everything auditable and community-governed.

Let’s build a stronger, more diversified backing together :small_blue_diamond:

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