Simple Summary

This SCCP proposes to apply the below DirectIntegration parameters on the new 1inch Cross-Asset Swap contract 0x19EA2e6f21bDFC894Abf09fa179D59F6c0e0797b:

{'currencyKey': 'sUSD',
 'dexPriceAggregator': '0x228bCc970003Ca7588337604AFD9Fc5d92bF1C8B',
 'atomicMaxVolumePerBlock': 15m$,
 'atomicExchangeFeeRate': 0}

{'currencyKey': 'sETH',
 'dexPriceAggregator': '0x228bCc970003Ca7588337604AFD9Fc5d92bF1C8B',
 'atomicMaxVolumePerBlock': 15m$,
 'atomicExchangeFeeRate': 5 bp}

{'currencyKey': 'sBTC',
 'dexPriceAggregator': '0x228bCc970003Ca7588337604AFD9Fc5d92bF1C8B',
 'atomicMaxVolumePerBlock': 15m$,
 'atomicExchangeFeeRate': 5 bp}

Abstract

The DirectIntegration addresses are contracts setup by integrators, that are allowed to trade at specialized fees and parameters, given that they satisfy certain conditions. In 1inch's case, they abide going throught the fusion offering which incorporates around a block delay for filling an order which leads to fresh uniswap prices being used:

• dexPriceAggregator is the uniswap aggregator in operation, it would be pointed towards the uniswap 5 bp pools.
• atomicMaxVolumePerBlock is the maximum sUSD volume allowed per block.
• atomicExchangeFeeRate is the fee rate paid on exchanges into a specific synth.

Motivation

The primary purpose is to switch over to the new 1inch address, as the old ones was deprecated. In addition, the atomic exchange fee was lowered to 5 bp with the intention of boosting exchange volume.

Copyright

Copyright and related rights waived via CC0.