SCCP-2133: Facilitate sUSD Transfers from L2 to L1 - Peg Rebalancing
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum & Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2024-08-05 |
Simple Summary
The TC plans to buy sUSD on optimism in order to help with the peg. However, given the need for sUSD liquidity on ethereum, to manage cratio, they request that they receive the sUSD immediately on ethereum. Hence This SCCP proposes, to facilitate this transaction with TC sending sUSD 10 million to pdao, pdao burning the sUSD on optimism and minting an equivalent amount on ethereum to the TC. No impact on the debt pool would materialize from executing this SCCP.
Motivation
The changes entail the TC sending sUSD to pdao on optimism. Pdao burns the sUSD on optimism and mints an equivalent amount on ethereum.
Copyright
Copyright and related rights waived via CC0.