sccp-2124

content/sccp/sccp-2124.md

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+---
+sccp: 2124
+title: Synth Redemption - Treasury Council
+network: Ethereum
+status: Vote_Pending
+type: Governance
+author: Kaleb (@kaleb-keny)
+---
+
+## Simple Summary
+
+The SCCP proposes deprecating volatile non-sUSD synths on Ethereum by setting the discountRate to zero. To accommodate potential future redemptions by users claiming sUSD, an equivalent value of the deprecated synths, in sUSD, would be minted and sent to the Treasury Council, would would be in charge of redeeming users without the need for the SC to sign off on the redemption.
+
+## Abstract
+
+<!--A short (~200 word) description of the proposed change, the abstract should clearly describe the proposed change. This is what *will* be done if the SIP is implemented, not *why* it should be done or *how* it will be done. If the SIP proposes deploying a new contract, write, "we propose to deploy a new contract that will do x".-->
+
+After this SCCP is implemented, debt of stakeholders will remain unchanged, however Treasury Council will receive the equivalent value of the volatile synth in sUSD on ethereum in order to manage redemptions going forward.
+
+## Motivation
+
+In order to allow Treasury to continue to service accidental redemptions, this SCCP is proposed, whereby the value of synth is minted to Treasury Council who would be responsible of managing that process in the future.
+
+## Copyright
+
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).