Increase the target Collateralisation Ratio for SNX stakers to 800%.
There is currently a surplus of Synths (relative to demand) in the Synthetix ecosystem. Increasing the target Collateralisation Ratio will cause some SNX stakers to purchase Synths off the market to burn before they can claim any more staking rewards.
The Synth pegs (both sETH on Uniswap and sUSD on CEX’s) are off-peg. This means demand for Synths is low. There are currently other levers in the works that should contribute to tightening these pegs, but one such lever is the Collateralisation Ratio, which a majority of Discord pollers supported increasing to 800% to contribute to increased demand from SNX stakers looking to burn.
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