SCCP-111: Lower the Wrppr MintFeeRate to 37.5 bp from 50 bp
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum |
| Implementor | TBD |
| Release | TBD |
| Created | 2021-05-24 |
Simple Summary
This SCCP proposes to lower the wrappr mintFeeRate to 37.5 bp from 50 bp.
Abstract
Setting the minting fee at 37.5 bp will effectively open up arbitrage opportunities on curve and will help with synths peg alignment.
Motivation
Lowering the mintFeeRate to 37.5 bp will help with the sETH peg, as well as ensure that snx stakers reap a large part of the benefit from the arbitrage.
Copyright
Copyright and related rights waived via CC0.