SIP-2008: Direct Integration - Polynomial Basis Trading

Simple Summary

This SIP proposes adding exchange done by the Polynomial Smart Wallets via SynthetixBasisTrading contracts to the Direct Integration Manager, which lowers the exchange fee to 5 bp (on sETH and sBTC) and disables dynamic fees.

Abstract

As outlined in SIP-267, every new Direct Integration needs to be specified in a sip along with the parameters proposed for that integration. Therefore this sip proposes to allow the polynomial contract to trade at the overridden parameters with lower fees and without any dynamic fees imposed.

Specification

The following parameters would be specified on the Polynomial Basis Trading contract 0x3349de7822aa05f857e92d167B264809419DC620:

{'currencyKey': 'sUSD',
 'exchangeFeeRate': 0,
 'exchangeDynamicFeeRounds':1,
 'exchangeMaxDynamicFee':10%}
{'currencyKey': 'sETH',
 'exchangeFeeRate': 5 bp,
 'exchangeDynamicFeeRounds':1,
 'exchangeMaxDynamicFee':10%}
{'currencyKey': 'sBTC',
 'exchangeFeeRate': 5 bp,
 'exchangeDynamicFeeRounds':1,
 'exchangeMaxDynamicFee':10%}

Copyright

Copyright and related rights waived via CC0.