SCCP-2101: Update Issuance Ratio
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum & Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2024-04-22 |
Simple Summary
This SCCP proposes to reduce the issuanceRatio ratio from 20% currently (i.e. 500% cratio) to 2.5% (i.e 4000% cratio).
Abstract
The issuance ratio is the ratio that determines the maximum amount of sUSD that can be minted for a staked amount of snx collateral.
Motivation
The increase in collateralization ratio is temporary until SIP-2059 is rolled out over the upcoming month. Note that snx stakers' liquidation ratio will remain unchanged at 160% and this SCCP does not increase or affect the state of an account getting liquidated. Furthermore, stakers can always repay their debt partially via the staking site if they wish to do so. Lastly, SNX stakers do not need to burn to target to claim their weekly fees as per SIP-255.
Copyright
Copyright and related rights waived via CC0.