Simple Summary

This SCCP proposes to update the ETH wrapper parameter on Optimism to the following:

• maxTokenAmount: 2,000
• mintFeeRate: 0 bp
• burnFeeRate: 100 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
• The mintFeeRate is the rate that paid for locking up a certain underlying to mint it's respective synth equivalent.
• The maxTokenAmount is the max amount allowed to be used to issue a synth with a underlying specified in the wrapper contract, in this case it's LUSD.

Motivation

The main motivation is to encourage more on-ramp of synth via the ETH wrapper in order to lean on the debt pool skew.

Copyright

Copyright and related rights waived via CC0.