SCCP-134: Reduce L2 Target C-Ratio To 900%

Author
StatusImplemented
TypeGovernance
ImplementorTBD
ReleaseTBD
Discussions-Tohttps://discord.gg/e9c5Cs
Created2021-08-11

Simple Summary

Lower target c-ratio on L2 from 1000% to 900%

Abstract

As laid out in SCCP 96, we intend to steadily reduce c-ratio as needed to minimize pain to stakers.

Motivation

We observe that the peg on uniswap is ~1.04 synth-non synth. Furthermore, L2 debt has increased approximately 7% since the beginning of trading on L2. It is therefore desirable to provide a bit more synths to the system.

900% is chosen because there are still several significant risks in this early stage of the trading rollout. We are not yet ready for extremely high liquidity or synth supply on L2.

Copyright and related rights waived via CC0.