SCCP-256: Update Atomic Swap Parameters

Author
StatusImplemented
TypeGovernance
NetworkEthereum
ImplementorTBD
ReleaseTBD
ProposalLoading status...
Created2022-12-05

Simple Summary

The below parameter changes are proposed:

  • Switch to the a new dex price aggregator, which automatically routes throught 5 bp uniswap pools.
  • Increase the standard sBTC atomicExchangeFeeRate to 50 bp from 35 bp.
  • Increase the atomic exchange volume to sUSD 5 million from sUSD 100k

Abstract

The parameters being changed are as follows:

  • The dexPriceAggregator is the contract used to get the relevant uniswap prices from the chain.
  • The atomicExchangeFeeRate is the fee levied on trades into or from a certain synth.
  • The atomicMaxVolumePerBlock is the maximum volume possible to trade atomically within a single block.

Motivation

The primary motivation is to improve the user experience around trades taking place with forex synths, as convex forex farmers are having to break down trades into sUSD 100k batches. This is considered to be safe to do as the risk of latency attacks is minimized at 50 bp standard (non Direct Integration) fees.

Copyright and related rights waived via CC0.