Thanks for the tag @0xlide, we think this is definitely an interesting proposal, but one with would recommend tackling with the most caution. For a stablecoin that is not even live, I believe the roadmap for a possible implementation of this would be at least months after a stable GHO has reached market. Overall, when looking at this in its purest form, we would not be comfortable with anything above a 50% LTV at the very very maximum. With a 50% LTV, you could take up a 1m USDC position, split it into .5m USDC, 0.5 GHO, LP that, and recursively lever that up to a total 1m USDC and 1m GHO. (1/(1-0.5)= 2) In this scenario, you’ve effectively taken 1m USDC and minted/created 1m GHO, essentially a 1:1 backing. Anything higher than the 50% LTV and this would be more than a 1:1 backing, something we don’t think should be played around with for now, and believe if we’re to happen, should have significant analysis and risk assessments done.