SCCP-213: Change Oracle Source To 30BP ETH/USDC
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2022-07-11 |
Simple Summary
This SCCP proposes to revert the change of the oracle source for atomic swaps done in SCCP-210. SCCP-210 changed the uni-v3 oracle source from the 30bp ETH/USDC pool to the 5bp one.
This SCCP proposes to implement the following:
- Update the fee tier of the wETH/wUSDC pool from the 5 bp pool to the 30 bp pool. This is done by calling the
setPoolForRoute, taking in arguments of the wETH and USDC addresses as well as the address of the 30 bp pool.
Abstract
Below is description of the parameters involved:
- The
setPoolForRouteoverrides the default route taken when trades take place for specific tokens.
Motivation
After implementing SCCP-210 there is a significant drop in atomic swap volume (~90%+ less). So instead of lowering the atomic swap fees, which could turn out unfavourable for stakers, an optimal alternative is to revert back to the old oracle source. Furhter analysis would be done in order to find out the best outcome for stakers and traders as to changing atomic swap fee and oracle source pool.
Copyright
Copyright and related rights waived via CC0.