SCCP 38: Increase Fees on Silver and Gold to 100 bp Source

AuthorKaleb Keny
Discussions-Tohttps://research.synthetix.io/t/increase-fees-on-silver-and-gold-to-100-bp/168
StatusImplemented
Created2020-08-05

Simple Summary

Increase fees on trades into sXAG and sXAU to 100 bp.

Abstract

As per sip-56 each synth can now have its own fee levels. This SCCP suggests to raise fees on sXAG and sXAU to 100 bp.

Motivation

Analysis of on-chain data showed that front-running opportunities were more accessible for commodities. Increasing fees to 100 bp should make front-running quasi-impossible because of the update frequency of the chainlink oracles. That said when sip-52 is implemented we should be able to lower these fees back to previous levels.

Copyright and related rights waived via CC0.