SCCP 13: Temporarily lower fee claim buffer to 500% Source

AuthorGarth Travers
Discussions-ToDiscord
StatusImplemented
Created2020-02-19

Update (2020-02/20)

The fee claim buffer has since been reinstated to its usual 750%.

Simple Summary

Lower the fee claim buffer to 500% to allow stakers to claim without incurring the temporary 2% trading fee.

Abstract

A high number of stakers are below the target C-Ratio, yet to burn enough Synths to reach the target many of them need to trade Synths back into sUSD. However, there’s currently a 2% trading fee until fee reclamation is launched with the Achernar release, so we’re reducing the fee claim buffer this one time to allow stakers to claim as long as their C-Ratio is above 500%.

Motivation

A temporarily high trading fee was added to ward off frontrunners until fee reclamation, but had the added effect of punishing people trading genuinely (including SNX stakers who are holding Synth positions). Allowing stakers to temporarily claim with a lower C-Ratio ensures they don’t get unduly punished.

Copyright and related rights waived via CC0.