SCCP-253: Update ETH Wrapper Parameters
| Author | |
|---|---|
| Status | Rejected |
| Type | Governance |
| Network | Ethereum & Optimism |
| Implementor | TBD |
| Release | TBD |
| Created | 2022-11-28 |
Simple Summary
- Lower the
maxTokenAmounton the ETH Wrapper to 0 on both Ethereum and Optimism, from 5000 and 3700 ETH respectively. - Lower the
burnFeeRateon the ETH wrappr to 0, from 5 bp on optimism and 5% on ethereum.
Abstract
The maxTokenAmount is the max amount allowed to be used to issue a synth with a underlying specified in the wrapper contract, in this case it's WETH.
The burnFeeRate determines the fee that is paid when burning sUSD to release the wrapped underlying.
Motivation
The primary motivation allowing for gradual unwind of synths issued from wrappers in order to facilitate the transaition towards the Synthetix v3.
Copyright
Copyright and related rights waived via CC0.