PIP 1- BTC++, BTC on Ethereum diversified

This sounds like a great way(s) to mitigate the risk involved.

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I think I have a way to implement insurance without exposing us to any other protocols. We deploy a second pool with trading disabled called iBTC then we support minting two different versions, BTC++ and iBTC++ . BTC++ is just the straight uninsured pool with trading and higher risk. iBTC++ is 1% iBTC and 99% BTC++ . During normal times, redemption of iBTC++ only gives you back the assets from BTC++. During a black swan, an insurance redeemable flag is set, disabling new minting on iBTC++ but changing redemptions to include the BTC++ along with a proportional share of the iBTC pool.

The DAO could potentially participate in iBTC to give it a value boost at the beginning as @mickdegraaf suggested. Then we could redeem the DAO’s portion when iBTC exceeds something like 40% of the outstanding BTC++.

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People can signal their support to BTC++ by using these as Twitter headers.
Courtesy of @nico

Great thread about tBTC and renBTC.

Suggestion from the community call;

Love the toggle! can I suggest having a (~USD Value) and an option to manually enter the amount of BTC++ I would like to mint?

Mainnet, Uniswap market and Balancer market

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https://docs.google.com/presentation/d/1qZyTVJxb_o4BWL79BNn4HCI79uzwjGrFHGhcMnFKRUA/edit#slide=id.g726d385204_0_74