OIP 2: ICE Airdrop Preparation (2)

  • Increase sICX borrow rates to 120% fixed interest rates per year

This is the most controversial change and thus proposed separately from other changes. Even without OMM rewards, some people may speculate on the ICE airdrop and not pay back their sICX to the Omm protocol, so high interest rates are proposed to encourage people to pay back sICX as quickly as possible.

120% interest rates/year roughly equate to 10% interest rates/month. While it is high interest rates, variable rates are used on Omm, and 120% borrow rates is within the range if utilization becomes very high. However, since the interest rate may be raised artificially through a governance proposal this time, the changes will be highlighted on the frontend.

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