SCCP-279: Increase ETH Wrapper Capacity
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2023-02-13 |
Simple Summary
This SCCP proposes to increase the maxTokenAmount on the ETH wrapper from 15k ETH to 20k ETH.
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.
Motivation
The main motivation is to lean against the positive skew ETH on the debt pool, which is around 45%. It is worth noting that currently ETH and DAI wrappers are at full capacity on the ethereum network and the sUSD/sETH pegs at a slight premium. Note that if the 5K ETH get wrapped and sent to sUSD the skew would be lowered to around 40%.
Copyright
Copyright and related rights waived via CC0.