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Sccp 2112 2113 2114+header updates (#1978)
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--- | ||
sccp: 2112 | ||
network: Ethereum | ||
title: Update Dynamic Redeemer Discount Rate | ||
author: Kaleb (@kaleb-keny) | ||
status: Vote_Pending | ||
created: 2024-05-23 | ||
type: Governance | ||
--- | ||
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# Simple Summary | ||
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This SCCP proposes to decrease the dynamic redeemer discount rate to 50% from 60%. | ||
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# Abstract | ||
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`discountRate` as per [SIP-2059](https://sips.synthetix.io/sips/sip-2059/), is used to compute the value of the debt pool. It also determines the price at which a user can redeem his outstanding spot synths. | ||
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# Motivation | ||
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The primary motivation is to move forward the intention of [SIP-2059](https://sips.synthetix.io/sips/sip-2059/), increasing the incentives on users to migrate their synths over into sUSD. | ||
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# Copyright | ||
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Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/). | ||
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sccp: 2113 | ||
network: Ethereum | ||
title: Update Dynamic Redeemer Discount Rate - Slow Decay | ||
author: Kaleb (@kaleb-keny) | ||
status: Vote_Pending | ||
created: 2024-05-23 | ||
type: Governance | ||
--- | ||
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# Simple Summary | ||
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This SCCP proposes to decrease the discount rate from 50% to 0% in 2% increments per month, with the first decreased done in June-2024. | ||
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# Abstract | ||
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`discountRate` as per [SIP-2059](https://sips.synthetix.io/sips/sip-2059/), is used to compute the value of the debt pool. It also determines the price at which a user can redeem his outstanding spot synths. | ||
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# Motivation | ||
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The intentions of SIP-2059 is to lean on the debt pool skew by providing users with an incentive to move their synths into sUSD. However, as was done in [SCCP-2110](https://sips.synthetix.io/sccp/sccp-2110/), users can request redemption at parity from synthetix governance. The latter is implemented by bumping the DR, enacting the redemption at parity and decreasing the DR to the level that offsets an impact on the size of the debt pool. Therefore, the 50% DR and slow decay would permit users over the coming two years to come forward with similar requests to synthetix governance. | ||
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# Copyright | ||
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Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/). | ||
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--- | ||
sccp: 2114 | ||
network: Ethereum & Optimism | ||
title: Update Issuance Ratio | ||
author: Kaleb (@kaleb-keny) | ||
status: Vote_Pending | ||
created: 2024-05-24 | ||
type: Governance | ||
--- | ||
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# Simple Summary | ||
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This SCCP proposes to increase the `issuanceRatio` ratio from 2.5% currently (i.e. 4000% cratio) to 10% (i.e. 1,000% cratio). | ||
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# Abstract | ||
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The issuance ratio is the ratio that determines the maximum amount of sUSD that can be minted for a staked amount of snx collateral. | ||
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# Motivation | ||
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The temporary increase in collateralization ratio was previously implemented in order to rollout [SIP-2059](https://sips.synthetix.io/sips/sip-2059), with the debt windfall benefiting stakers that took on the historical legacy debt from the long ETH skew. With sip-2059 being mostly rolled out, and changes being to the discount rate planned to be implemented in slow incremental steps, the issuanceRatio can be restored back to previous levels. This SCCP proposes to start off that process with, with gradual changes to the `issuanceRatio` being proposed to limit the impact on the protocol. | ||
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# Copyright | ||
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Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/). | ||
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sccp: 332 | ||
sccp: 333 | ||
network: Arbitrum | ||
title: Increase Arbitrum LP caps | ||
author: Cavalier | ||
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