Replace the deprecated
sCEX synth with a new
In order to support the rebalancing of
sCEX and introduction of new non-exchange elements into
sCEFI, the old
iCEX tokens were deprecated in order to make way for a new
sCEFI token using the upgraded feed from Chainlink.
SCCP-124 proposed the rebalancing of the
sCEX index with two new centralized finance tokens -
CEL - and a rename into
sCEFI which more correctly depicts the index. A rename in this instance is not valid due to the 150k of open interest currently held in the sCEX synth, as those holders did not buy into a
sCEFI token. In order to correctly handle this rebalance, we either needed to a) keep
sCEX around and create a new
sCEFI token or b) deprecate
sCEX and create the new
sCEFI synth allowing them to trade into it. Thus the council opted for option b, and once
sCEX is deprecated in SIP-169 this SIP can proceed.
The new synth will behave as other indexes with no new API or semantics.
- Should this new synth target L1 or L2?
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