SCCP-275: Update Wrapper Parameters
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum & Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2023-01-26 |
Simple Summary
This SCCP proposes to implement the following:
- Increase the WETH wrapper
burnFeeRateto 50 bp from 10 bp - Lower the the DAI wrapper
burnFeeRateto 5 bp from 10 bp
Abstract
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 main motivation is to lean against the increasing ETH skew in the debt pool, by increasing the chance that arbitrage bots would reverse sUSD to sETH trade flow imbalance in the curve pools with synth exchanges, rather than using the ETH wrapper.
Copyright
Copyright and related rights waived via CC0.