SCCP-87: Increase loans and shorts cap to sUSD 40 million
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Implementor | TBD |
| Release | TBD |
| Discussions-To | governance |
| Created | 2021-03-07 |
Simple Summary
The current cap was configured to sUSD 30 million in SCCP-85 of which sUSD 28 million is currently utilized in shorts and borrows, so there is not much room for new users to take loans or shorts.
Abstract
The cap can safely be increased to sUSD 40 million to allow more users to take loans and shorts.
Motivation
The cap of sUSD 30 million has almost been reached. Given that we want to promote using the new shorting mechanism as a longterm replacement for iSynths staking, increasing the cap gradually we approach full utilization would be the prudent approach. The breakdown of the program is as follows:
| CCY | sUSD Debt | % of Total |
|---|---|---|
| Total Borrows | $9M | 32% |
| sUSD Against ETH | $4.4M | 16% |
| sBTC against renBTC | $25k | 0% |
| sUSD against renBTC | $4.6M | 17% |
| Total Shorts | $18.7M | 68% |
| sBTC | $9.5M | 34% |
| sETH | $9.2M | 33% |
| Total | $27.7M | 93% Utilization |
Want to take the opportunity to mention that the loan program which can be accessed on this portal now display the liquidation price on shorts. Thank you Mitch!
Copyright
Copyright and related rights waived via CC0.