[Direct to AIP] MKR and USDtb Oracle adjustments

Governance
4

From the technical side, we support the changes suggested for both assets, with the following remarks:

  • Instead of applying a fixed 6% “discount” on the new MKR/USD calculated from SKY/USD, we think it is better to fetch the discount dynamically from the MkrSky migration contract (called rate there). This way, the feed will automatically apply the live discount there and will not require further maintenance.
    This doesn’t change any security assumptions, as the MkrSky smart contract (immutable) includes proper sanity checks (e.g., the discount is always <= 100%) and increments to the discount are made via Sky governance proposals.
  • Given that MKR at the moment is already effectively frozen (both supply and borrow caps configured to 1), we think for consistency it should be LTV0 too, as that is really the desired effect. Considering it doesn’t change anything fundamental on the listed asset, only adds extra protection due to low liquidity, we will recommend the Aave Guardian to call setReserveFreeze(), just to make effective the LTV0.
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