SCCP-104: Lower the Wrppr MintFeeRate to 100 bp from 200 bp
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Implementor | TBD |
| Release | TBD |
| Discussions-To | governance |
| Created | 2021-05-17 |
Simple Summary
This SCCP proposes to lower the wrppr mintFeeRate to 100 bp from 200 bp.
Abstract
Setting the minting fee at 100 bp will effectively open up arbitrage opportunities on curve and will help with synths peg alignment.
Motivation
Lowering the mintFeeRate to 100 bp will help with the sETH peg, as well as ensure that snx stakers reap a large part of the benefit from the arbitrage and minimize volatility on synth prices.
Copyright
Copyright and related rights waived via CC0.