SIP-293: Deprecate Low Volume Synths
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Ethereum & Optimism |
| Implementor | MEB (@barrasso) |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2022-12-14 |
Simple Summary
This SIP proposes to deprecate the following synths at the prices fetched on 02-02-2023 using chainlink oracles:
| Token | Network | Price In USD |
|---|---|---|
| sAAVE | Ethereum/Optimism | 90.5805 |
| sLINK | Ethereum/Optimism | 7.234 |
| sDOT | Ethereum | 6.493 |
| sADA | Ethereum | 0.4003 |
| sMATIC | Optimism | 1.2168 |
| sUNI | Optimism | 6.9263 |
| sAVAX | Optimism | 21.6746 |
| sSOL | Optimism | 24.8584 |
Abstract
Deprecate these synths and allow for synth holder to redeem them into sUSD by SynthRedeemer described in SIP-174.
Motivation
Given the low volume generated by those synths, as well as the large attack surface, due to them having an open-ended open interest on the derivative and low liquidity on the underlying, these synths are recommended to be deprecated with the owners being able to redeem them, for sUSD but not exchange them for other synths. It should be mentioned this sip is to be implemented only subsequent to their rollout on perps v2.
Copyright
Copyright and related rights waived via CC0.