SCCP-272: Update Wrapper Parameters
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum & Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2023-01-14 |
Simple Summary
Update the ETH and DAI wrapper parameters as follows:
- Increase the DAI mintFeeRate to 25 bp from 10 bp
- Lower the ETH mintFeeRate to 10 bp from 25 bp
Abstract
The mintFeeRate is the rate that paid for locking up a certain underlying to mint it's respective synth equivalent.
Motivation
The primary motivation is to lean against the recent increase in the debt skew which exceeded 40%, up from 20% a couple of weeks ago. Increasing the incentive to scale with ETH helps lower the skew to a certain extent as the sETH is swapped to other synths.
Copyright
Copyright and related rights waived via CC0.