Simple Summary

Decrease the target Collateralisation Ratio for SNX stakers to 400%.

Abstract

Given the state of the peg, this sccp proposes to decrease the target collateralization ratio of SNX stakers to 400% from 450% currently.

Motivation

The peg continues to be pressured as can be seen here, this is mostly due to the reasons mentioned in SCCP-127. As can be seen on stats, the active c-ratio is 310%, the sUSD APY is above 10% and the SNX Staking APY at 40%, this means that a large proportion of minters are foregoing claiming all together. This SCCP proposes to provide minters with some relief, by allowing them to acquire synths more cheaply and have them need to burn less sUSD in order to get their accounts in order.

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