MIP-M16: Redemption and Reallocation of Nomad Collateral and Protocol Reserves for FRAX Market Enhancement (Proposal 1)


Currently, the maximum number of actions a proposal can execute is 25. However, this will need to be increased in order to handle the volume of actions that will be required in order to fix the bad debt accounts in proposal 2. This proposal will increase the maximum number of proposal actions to 1,000 so that future proposals are not bottlenecked on the number of actions they can take. During this proposal, all Nomad reserves will be transferred to the community multisig. This will allow the KYC process to begin before the second proposal has taken place.

Following the passing of the signaling snapshot poll, this governance proposal has been proposed to execute the first step in restoring liquidity to the markets.

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