SIP-190: Add LUSD/sUSD Wrappr to L1

Author
StatusApproved
TypeGovernance
ImplementorTBA
ReleaseTBD
ProposalLoading status...
Discussions-Todiscord
Created2021-11-17

Simple Summary

Adding a LUSD wrappr that mints 1 sUSD for each 1 LUSD deposited and releases 1 LUSD for each sUSD burned (excluding fees).

Abstract

This SIP proposes to add the LUSD/sUSD wrappr using the wrappr factory specified in SIP-182.

Motivation

The LUSD wrappr will allow us to reduce the negative ETH skew on the debt pool while keeping the peg in check on L1.

Specification and Overview

The sUSD/LUSD wrappr will function similar to the LUSD/sUSD wrappr on L2, where a users can mint 1 sUSD for each LUSD deposited and where users can burn 1 sUSD to receive back 1 LUSD (excluding fees).

Rationale

N/A

Technical Specification

N/A

Test Cases

N/A

Configurable Values (Via SCCP)

  • Max Capacity := 0

  • Minting Fee := 5 bp

  • Burning Fee := 5 bp

Copyright and related rights waived via CC0.