PANews reported on October 14 that the official governance page showed that Gauntlet launched a proposal to deprecate MAI/MIMATIC in the Aave community. Given that the MAI/MIMATIC price has fallen to about $0.72 in the last 24 hours and has not been able to return to anchor in the past few months, Gauntlet recommends starting to deprecate MAI/MIMATIC, with the goal of incentivizing repayments by reducing loan terms and raising borrowing rates, the proposal said. Currently, MAI/MIMATIC is frozen and LTV is set to 0.

According to the official governance page, Gauntlet launched a proposal to deprecate MAI/MIMATIC in the Aave community. Given that the MAI/MIMATIC price has fallen to about $0.72 in the last 24 hours and has not been able to return to anchor in the past few months, Gauntlet recommends starting to deprecate MAI/MIMATIC, with the goal of incentivizing repayments by reducing loan terms and raising borrowing rates, the proposal said. Currently, MAI/MIMATIC is frozen and LTV is set to 0. CoinGecko data shows that the stablecoin MAI (MIMATIC) has been unanchored since July 2023 and tentatively traded at $0.781966, a 24-hour decline of 3.23%.

Golden Finance reported that Gauntlet launched a proposal to deprecate the MAI/MIMATIC trading pair in the Aave community. Given that the MAI/MIMATIC price has fallen to about $0.72 in the last 24 hours and has not been able to revert the peg in the past few months, Gauntlet recommends starting to deprecate MAI/MIMATIC, with the goal of achieving this by reducing loan terms and raising borrowing rates to incentivize repayments, the proposal said. Currently, MAI/MIMATIC is frozen and LTV is set to 0.

PANews news on October 13, CoinGecko data shows that the stablecoin MAI (MIMATIC) has been unanchored since May 2023 and is now at $0.7231, a 24-hour decline of 12.2%.