SCCP-158: Update sETH/ETH Wrappr Parameters
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2021-12-21 |
Simple Summary
This SCCP proposes to update the following parameters on the sETH wrappr on L2:
- Decrease the minting fee to 20 bp
Abstract
The minting fee is paid upon minting sETH with ETH and helps control the supply of the synth.
Motivation
Lowering the minting fee to 20 bp will allow an easier and less costly on-ramp towards sETH and increase the trading activity on Optimism via the lyra contracts. It is important to mention that proposed increase in the supply of sETH from wrapprs should be kept in check in order to not over-shoot the positive ETH skew on the debt pool which currently stands at around 2,400 ETH.
Copyright
Copyright and related rights waived via CC0.