SCCP-269: Update Fees - Spot Exchanges

Author
StatusImplemented
TypeGovernance
NetworkEthereum
ImplementorTBD
ReleaseTBD
ProposalLoading status...
Created2022-01-09

Simple Summary

Increase the exchangeFeeRate on forex synths (sEUR,sJPY,sCHF,SAUD,sKRW and sGBP) to 15 bp from 5 bp. Note this change does not affect atomic spot forex exchanges.

Abstract

The exchangeFeeRate is the fee rate paid on exchanges into a given synths.

Motivation

The main reason is to lean against the economic arbitrage that results from chainlink having a high threshold for which price updates are pushed, around 20 to 30 bp, relative to the low fee being charged of 5 bp.

Copyright and related rights waived via CC0.