SIP 4: Change Fee Claim Window Source

AuthorKain Warwick, Clinton Ennis
Discussions-Tohttps://discord.gg/aApjG26
StatusImplemented
Created2019-06-17

Simple Summary

The current fee window of 6 weeks is not configurable and creates a significant lag between changes to incentives and user action. This SIP changes the fee period to two weeks, it does not address the current issues with fee rollover which will be addressed in a later SIP.

Abstract

The current fee claim window is not configurable, but the community has indicated that reducing it to two weeks is necessary to increase the responsiveness of minters to the incentives within the system. Due to the way fees are currently claimed, and the way unclaimed fees rollover there needs to be at least six fee periods worth of fees unclaimed before fees begin to rollover and be claimable. Simply reducing the number of claimable periods does not resolve this. However, the fee rollover issue can be resolved in a later SIP as the higher priority issue is reducing the lag between changing incentives and user action.

Motivation

There are currently several SCCPs proposed to increase the incentives in the system to ensure the sUSD peg is maintained. These configuration changes are likely to have minimal effect and significant lag between implementation and user action given the current six week claim window. The reason for this is that a user is not sufficiently motivated to adjust their c ratio when they can wait for either the SNX price to rise in a later fee period or wait until their fees are about to expire before adjusting their ratio.

Test Cases

https://github.com/Synthetixio/synthetix/blob/develop/test/FeePool.js#L503 https://github.com/Synthetixio/synthetix/blob/develop/test/RewardsIntegrationTests.js

Implementation

https://github.com/Synthetixio/synthetix/blob/develop/contracts/FeePool.sol#L100

Copyright and related rights waived via CC0.