This SCCP proposes to decrease the
maxTokenAmount on the DAI wrapper to zero from 20 million sUSD.
maxTokenAmount is the maximum amount of synth that could be minted against a deposited a designated underlying.
DAI was initially introduced in SCCP-264 to cater to traders' synth liquidity needs and meet the increasing demand for sUSD stemming from the release of perps v2. However, as we near the launch of perps v3 and the v3 staking system, it's beneficial to gradually phase out DAI wrappers in order to make the transition towards v3 smoother. Moreover, with sUSD liquidity being readily available in curve pools, makes it the ideal time to scale back the usage of the DAI.
Upon the release of v3, acquiring sUSD would become much more convenient, thanks to multiple paths built into V3 that allows traders to acquire sUSD, and well thought-out risk controls that focus on skewness.
It's worth mentioning that although the DAI wrapper has zero utilization on optimism, in case we find a sudden surge in sUSD demand before the v3 implementation matures, there are alternatives like LUSD, GHO, and CRVUSD. These stable coins have ample on-chain liquidity and can be integrated with wrappers to help meet the sUSD demand, all the while diversifying the debt pool's exposure to counterparty risk.
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