SCCP-106: Reduce Issue Fee Rate on ETH backed loans to 75 bp from 200 bp

Author
Discussions-Togovernance
StatusRejected
Created2021-05-20

Simple Summary

This SCCP proposes to reduce the minting fee (issueFeeRate) on new ETH backed loans to 75 bp on the multi-collateral loan contract (0x5c8344bcdC38F1aB5EB5C1d4a35DdEeA522B5DfA).

Abstract

Setting the minting fee at 75 bp will effectively lower the cost of minting of new sUSD and sETH with ETH collateral.

Motivation

The primary motivation is to align the wrappr mintFeeRate with the loans issueFeeRate which allow borrowers to take our synth loans helping with the skew without hampering the gradual rollout of the wrappr.

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