SCCP-84: Lower Fees on iETH
Author | |
---|---|
Status | Implemented |
Type | Governance |
Network | Ethereum |
Implementor | TBD |
Release | TBD |
Created | 2021-02-03 |
Simple Summary
Given the reset of iETH
, this sccp proposes to lower fees on trades into iETH
to 40 bp
from 70 bp
currently.
Abstract
The fee can be decrease to 40 bp without exposing inefficiencies in the oracle price updates due to the abscence of leverage.
Motivation
The fee were originally levied this high in order to counter a front-running gap. However with the price-adjustment waiting period increase to 6 minutes, the fees can be lowered safely without exposing minters to the risk of front-running. However, incoming data will be reviewed, and action will be taken by the council if front-running pockets were found. Note that this sccp supercedes sccp-80 on the iETH rate.
Copyright
Copyright and related rights waived via CC0.