SCCP-396: Temporarily pause SNX staking liquidations
| Author | Fenway |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum & Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2025-02-27 |
Simple Summary
Pause all Mainnet and Optimism SNX liquidations during the launch period of the 420 pool.
Abstract
This SCCP proposes to prevent SNX staking positions from being subject to liquidations during the 420 pool pre-launch period to avoid unfair treatment to stakers not partaking in the early access program.
Motivation
In order to test the new 420 pool, Synthetix plans to allow for early access to whitelisted users / testers.
Once migrated, SNX positions of the whitelisted users / testers will not be subject to liquidations. However, those not in the testing / early access program will continue to be subject to liquidations without this SCCP.
To remove the potential for testers to gain the unfair advantage of not being subject to liquidations during the testing/early access period, Synthetix proposes to turn off liquidations for everyone temporarily. Once the migration period has been publicly available for a period deemed long enough for everyone to have had the chance to enter the 420 pool (circa 2 weeks), liquidations will be turned back on on both Ethereum mainnet and Optimism.
Copyright
Copyright and related rights waived via CC0.