I would like to propose an optimised solution based on your proposal
Collateral Details:
- Sell $7 million USDC for STX + 16% ALEX (minus those used up in Option Two)
- Protocol Swap Fees: Fees collected from protocol swaps.
Step One:
1、Mint 13.8m aSTX with the above assets as Collateral (mint how many aSTX depend on Option One adoption)
2、Distribute these aSTX to the affected users who chose Option One.
3、Provide a Burn feature. users can burn aSTX to receive the collateral assets with a fixed discount(85%)
4、Create a Flat Curve pool aSTX/STX, and create a Farm for it to incentive LP
5、Create a Farm for aSTX staking pool similar with the ALEX Staking
6、aSTX staked from the beginning and never be withdrawn, will have the right to receive the Recovered Frozen STX and Exploiter’s Wallet STX in the future(If have)
Step Two(months later):
1、Create a real Synthetic Engine for aSTX
2、Other eople can mint aSTX with stSTX/vLiSTX/xBTC/aBTC/sUSDC as collateral
3、People can burn aSTX to get back the collateral
4、When the Collateral Ratio falls below the threshold, liquidators can participate in the liquidation
Step Three:
Gradual replacement of STX in DEX trading pairs with aSTX.