Simple Summary

This SCCP proposes to reduce the minting fee (issueFeeRate) on new ETH backed loans to 25 bp on the multi-collateral loan contract (0x5c8344bcdC38F1aB5EB5C1d4a35DdEeA522B5DfA).

Abstract

Setting the minting fee at 25 bp will effectively lower the cost of minting of new sUSD and sETH with ETH collateral.

Motivation

The primary motivation is to align the wrappr mintFeeRate with the loans issueFeeRate which allow borrowers to take our synth loans helping with the skew without hampering the gradual rollout of the wrappr.

Copyright and related rights waived via CC0.