SCCP-2110: Redeem `0xb84ac` At Parity
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
Simple Summary
The SCCP proposes to redeem 0xb84acf5af9132680876ccef334f7d6f8b4599c16 at parity. This is done by increasing the discountRate to 1, executing the redemption on the sBTC held by the user and setting discount rate to 60%.
Abstract
The discountRate, described in SIP-2059, determines the rate which users can redeem their synths for sUSD.
Motivation
The discountRate is currently set to 75%, as per SCCP-2105 in order to encourage volatile synth holders to redeem their synths to sUSD and help rebalance the long skew. However, users who hold volatile synths, can request from governance to be redeemed at parity.
Copyright
Copyright and related rights waived via CC0.