SCCP-2103: Enable Dynamic Redeemer
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2024-04-22 |
Simple Summary
This SCCP proposes to enable the dynamic redeemer specified in SIP-2059 and lower the discountRate from 100% to 90%. By enabling the dynamic redeemer, all spot synth exchanges and atomic synth exchanges will be disabled and users with volatile synths on the ethereum network can only swap their synths to sUSD.
Abstract
The discountRate is the rate applied on the chainlink price, at which synth can be redeemed into sUSD.
Motivation
The primary motivation is to lean on the debt pool skew as per SIP-2059 with a mechanism that encourages users to swap their volatile synths to sUSD.
Copyright
Copyright and related rights waived via CC0.