SCCP-193: Lower LUSD Wrapper Burn Fee

Author
StatusImplemented
TypeGovernance
NetworkOptimism
ImplementorTBD
ReleaseTBD
ProposalLoading status...
Created2022-05-05

Simple Summary

This SCCP proposes the following updates to LUSD:

  • Reduce burnFeeRate on LUSD wrappr to 10 bps

Abstract

The parameters being updated as are as follows

  • The burnFeeRate is a parameter that determines the fee to be paid in order to release the underlying, when a synth is burned

Motivation

The goals of increasing the burn fee in SCCP 168 have been achieved. Furthermore, L2 sUSD is currently off peg (trading at ~0.99), which suggests that this fee increase should be reverted.

Copyright and related rights waived via CC0.