SCCP-254: Update ETH Exchange Fee
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2022-11-30 |
Simple Summary
- Lower the
exchangeFeeRateon sETH to 10 bp from 25 bp. - Increase the standard
atomicExchangeFeeRateon trades to sETH to 50 bp from 40 bp.
Abstract
The exchangeFeeRate is the fee rate applied on swaps towards sETH which incorporate a fee reclamation adjustment.
The atomicExchangeFeeRate is the fee rate paid on swaps towards sETH which do not incorporate any fee reclamation adjustment. Note that the fee change here does not affect fees configured on sETH in the DirectIntegrationManager.
Motivation
The primary motivation is to facilitate arbitrage between the different Curve pools, especially after large atomic exchanges have taken place that tilt the imbalance between the components of the curve pools.
Copyright
Copyright and related rights waived via CC0.