SCCP-30: Lower c-ratio to 700%
Decrease the target Collateralisation Ratio for SNX stakers to 700%
There is currently a potential deficit of Synths that is coming to Synthetix platform. Decreasing the target Collateralisation Ratio will cause some SNX stakers to increase amount of synths minted.
- Current peg is holding up great due to Curve. This can be seen from data collected since lowering it to 700% in SCCP-26.
- Launch of Idle integration allows to increase the demand to sUSD overall
- Accroding to this: https://blog.synthetix.io/optimize-your-susd-yield-with-idle/
- "The Idle team is currently working on a solution that will enable users to deposit sUSD into protocols that allow them to earn popular governance tokens such as BAL and/or CRV to earn alongside their holdings." I think we must take advantage of the current Yield Farming craze and allow SNX Governance tokenholders to capture more value
- Capital Efficiency!
- Increased demand for synths will drive more integrations with other DeFi platforms
- Synthetix platform will be able to potentially showcase the ability to deliver rapid iterations
- Increased amount of SNX holders that will come to the platform will be able to see upcoming updates such as Synthetic Futures, sOIL, Limit Orders and Binary Options.
- It will allow us to further collect data on stability of the peg and allow precipitate the deamand.
- sUSD peg constantly moving to above 1 USD
- We now have liquidations
- We voting on reducing Liquidation window from 2 weeks to 3 days
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