Skip to content

Commit

Permalink
fix typo
Browse files Browse the repository at this point in the history
  • Loading branch information
aband1 authored Apr 3, 2024
1 parent 5769c4f commit be26d0b
Showing 1 changed file with 1 addition and 1 deletion.
2 changes: 1 addition & 1 deletion content/sips/sip-371.md
Original file line number Diff line number Diff line change
Expand Up @@ -13,7 +13,7 @@ release: TBD
This SIP proposes to add Ethena's staked USDe (sUSDe) as LP collateral to Synthetix V3 on Arbitrum.

## Abstract
Add sUSDe as a supported collateral type for Arbtirum V3 deployment with minting at 125% C-ratio and a maximum LP cap of $50M.
Add sUSDe as a supported collateral type for Arbitrum V3 deployment with minting at 125% C-ratio and a maximum LP cap of $50M.

## Motivation
Ethena imports basis yield from centralized exchanges by holding ETH and LST's with offsetting short positions in ETH perpetual futures market, with the bulk of the yield distributed to sUSDe holders (currently earning ~30%+ APR so far this year). Yield bearing collateral can drastically improve the capital efficiency of providing liquidity to markets on Synthetix V3 and sUSDe presents an attractive option to fulfill this need. A discussion on the various risk factors and considerations associated with Ethena and USDe can be found [here](https://forum.makerdao.com/t/morpho-spark-dai-vault-update-1-april-2024/24006#performance-and-pool-selection-1).
Expand Down

0 comments on commit be26d0b

Please sign in to comment.