SCCP-140: Reduce L2 Target C-Ratio To 500%
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Implementor | TBD |
| Release | TBD |
| Discussions-To | https://discord.gg/e9c5Cs |
| Created | 2021-10-11 |
Simple Summary
Lower target c-ratio on L2 from 600% to 500%
Abstract
In order to alleviate some of the pressure on the peg on L2, this SCCP proposes to further reduce the collateralization ratio on minting synths with snx to 500%.
Motivation
Although, the ultimate fix to the L2 peg situation would be the release of the sUSD wrappr. In the meantime, lowering the collateralization could act as a bridge, allowing minters to mint new synths that can be traded for a 10 to 20% premium on uniswap in anticipation of the wrappr release.
Copyright
Copyright and related rights waived via CC0.