SCCP-114: Lower the Wrppr MintFeeRate to 25 bp from 37.5 bp

Author
StatusImplemented
TypeGovernance
ImplementorTBD
ReleaseTBD
Discussions-Togovernance
Created2021-05-26

Simple Summary

This SCCP proposes to lower the wrappr mintFeeRate to 25 bp from 37.5 bp.

Abstract

Setting the minting fee at 25 bp will effectively open up arbitrage opportunities on curve and will help with synths peg alignment.

Motivation

Lowering the mintFeeRate to 25 bp will help with the sETH peg, as well as ensure that snx stakers reap a large part of the benefit from the arbitrage.

Copyright and related rights waived via CC0.