SCCP-108: Reduce Issue Fee Rate on ETH backed loans to 50 bp from 200 bp
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum |
| Implementor | TBD |
| Release | TBD |
| Created | 2021-05-20 |
Simple Summary
This SCCP proposes to reduce the minting fee (issueFeeRate) on new ETH backed loans to 50 bp on the multi-collateral loan contract (0x5c8344bcdC38F1aB5EB5C1d4a35DdEeA522B5DfA).
Abstract
Setting the minting fee at 50 bp will effectively lower the cost of minting of new sUSD and sETH with ETH collateral.
Motivation
The primary motivation is to align the wrappr mintFeeRate with the loans issueFeeRate which allow borrowers to take our synth loans helping with the skew without hampering the gradual rollout of the wrappr.
Copyright
Copyright and related rights waived via CC0.