SIP-413: Adding Support for WETH, wstETH, cbETH, and cbBTC to Base V3 LP
| Author | |
|---|---|
| Status | Draft |
| Type | Governance |
| Network | Base |
| Implementor | TBD |
| Release | TBD |
| Created | 2025-01-07 |
Simple Summary
This SIP proposes the addition of WETH, wstETH, cbETH, and cbBTC tokens as LP collateral on Base V3 deployment.
Abstract
In order to enhance the diversity of yield-generation and exposure options for LP collateral within the Synthetix ecosystem, this SIP aims to add WETH, wstETH, cbETH, and cbBTC tokens as LP collateral on Base V3 deployment.
Motivation
- Capital Efficiency: Expand use cases for WETH, wstETH, cbETH, and cbBTC holders, letting them earn yield while retaining exposure to underlying yields.
- Diversification: Incorporate multiple types of ETH- and BTC-based derivatives to spread risk.
- Ecosystem Growth on Base: Attract additional users and liquidity through widely recognized “blue-chip” derivatives.
- Arbitrum Match: Provide a home for wstETH and WETH Arbitrum LPs on Base.
Technical Specification
None of these LP assets should be eligibile for minting snxUSD against deposits.
Test Cases
N/A
Configurable Values
Each LP parameter (LP cap, liquidation ratio, etc) will be configured via SCCP.
Copyright
Copyright and related rights waived via CC0.