SCCP-117: Lower the Wrppr MintFeeRate to 5 bp from 25 bp

Author
StatusImplemented
TypeGovernance
ImplementorTBD
ReleaseTBD
Discussions-Togovernance
Created2021-05-27

Simple Summary

This SCCP proposes to lower the wrappr mintFeeRate to 5 bp from 25 bp.

Abstract

Setting the minting fee at 5 bp will effectively end the rollout of the wrapper program and ensure that the peg on ETH is as low friction as possible.

Motivation

Lowering the mintFeeRate to 5 bp will ensure that sETH stays pegged against ETH.

Copyright and related rights waived via CC0.