SIP-245: Changes to burn during minting cooldown

Simple Summary

This SIP proposes to allow a buffer for burning during the minting cooldown (currently 7 days)

Abstract

Allow 50% buffer for burning during cooldown period after minting. Perform a claim on any burn/mint event if possible.

Motivation

To improve the UX of staking I propose to leave a buffer on the burn restrictions during minting cooldown. The buffer should have a value of 50% from target cRatio, i.e. one can burn up to 350% cRatio during the cooldown per current system variable (target cRatio being 300%).

This is particularly important for multisigs which are staking as by the time a 'burn to cRatio' transaction is staged and executed and the transaction to claim follows up, the cratio can easily drop again and thus require another burn to cRatio transaction, making for a very bad UX for multisigs.

I also propose further improvements to stakers' UX:

• Perform an auto-claim of pending rewards if cRatio allows on any mint or burn event
• Increase the buffer for claim from 1% from target cRatio to 3%, i.e. more than 291% at current system configuration

Specification

• Allow a buffer of 50% on burn during minting cooldown

• Perform an auto-claim of pending rewards if cRatio allows on any mint or burn event

• Increase the buffer for claim from 1% from target cRatio to 3%, i.e. more than 291% at current system configuration

Test Cases

N/A

Configurable Values (Via SCCP)

• buffer for burn during cooldown = 50%

Copyright

Copyright and related rights waived via CC0.