SCCP-38: Increase Fees on Silver and Gold to 100 bp
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Implementor | TBD |
| Release | TBD |
| Discussions-To | https://research.synthetix.io/t/increase-fees-on-silver-and-gold-to-100-bp/168 |
| Created | 2020-08-05 |
Simple Summary
Increase fees on trades into sXAG and sXAU to 100 bp.
Abstract
As per sip-56 each synth can now have its own fee levels. This SCCP suggests to raise fees on sXAG and sXAU to 100 bp.
Motivation
Analysis of on-chain data showed that front-running opportunities were more accessible for commodities. Increasing fees to 100 bp should make front-running quasi-impossible because of the update frequency of the chainlink oracles. That said when sip-52 is implemented we should be able to lower these fees back to previous levels.
Copyright
Copyright and related rights waived via CC0.