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Sccp 2103 #1951

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Apr 23, 2024
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Sccp 2103 #1951

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Create sccp-2103.md
kaleb-keny Apr 22, 2024
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kaleb-keny Apr 22, 2024
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enable dynamic redeemer
kaleb-keny Apr 23, 2024
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---
sccp: 2103
network: Ethereum
title: Enable Dynamic Redeemer
author: Kaleb (@kaleb-keny)
status: Draft
created: 2024-04-22
type: Governance
---

# Simple Summary

This SCCP proposes to enable the dynamic redeemer specified in [SIP-2059](https://sips.synthetix.io/sips/sip-2059/) and lower the discountRate from 100% to 90%. By enabling the dynamic redeemer, all spot synth exchanges and atomic synth exchanges will be disabled and users with volatile synths on the ethereum network can only swap their synths to sUSD.

# Abstract

The `discountRate` is the rate applied on the chainlink price, at which synth can be redeemed into sUSD.

# Motivation

The primary motivation is to lean on the debt pool skew as per [SIP-2059](https://sips.synthetix.io/sips/sip-2059/) with a mechanism that encourages users to swap their volatile synths to sUSD.

# Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).


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