SCCP-401: Unpause SNX staking liquidations and return mainnet to 160%
| Author | Fenway |
|---|---|
| Status | Approved |
| Type | Governance |
| Network | Ethereum & Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2025-03-24 |
Simple Summary
Liquidations will be turned back for both mainnet and optimism stakers. Staker liquidations will return to 160% for both mainnet and optimism.
Abstract
Liquidations have always been an important part of maintaining system health/solvency. This SCCP proposes to return the liquidation ratios to their naturak level (i.e. 160%).
Motivation
SCCP 396 paused liquidations during a period of early testing/whitelisting to ensure that non-whitelisted stakers were not unfairly subject to liquidations. As stated in SCCP 396 - "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."
Now that the 420 pool has been live for over 2 weeks, giving people ample opportunity to migrate, liquidations will be turned back on to ensure system health and to avoid bad debt accruing.
Copyright
Copyright and related rights waived via CC0.