SCCP-9: Redeploy iXTZ and iBNB
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum |
| Implementor | TBD |
| Release | TBD |
| Created | 2019-12-17 |
Simple Summary
I propose re-enabling iXTZ (Inverse Tezos) and iBNB (Inverse Binance Coin) with new limits. (n.b. originally this SIP only proposed re-enabling iXTZ but was updated before the release as during that time, iBNB also froze)
Abstract
iXTZ and iBNB allow traders to effectively take a short position on Tezos and Binance Coin respectively. Since they reached their limits as a result of Tezos appreciating and Binance Coin depreciating in price recently, they have both frozen. If people are to continue taking inverse positions on Tezos or Binance Coin, a new iXTZ and iBNB will need to be enabled.
Motivation
iXTZ and iBNB are two of our existing Synths, and our usual practice when an Inverse Synth gets frozen is to re-enable it in the next release.
Implementation
The iXTZ entry price is $1.57 and the limits will be $0.785 and $2.355. The iBNB entry price is $12.57 and the limits will be $6.29 and $18.86.
Copyright
Copyright and related rights waived via CC0.