From a7ee5b78e04bbe267750e6d142bd796f968d8c82 Mon Sep 17 00:00:00 2001 From: kaleb Date: Mon, 15 Jul 2024 09:27:29 +0200 Subject: [PATCH 1/7] Create sccp-2126.md --- content/sccp/sccp-2126.md | 28 ++++++++++++++++++++++++++++ 1 file changed, 28 insertions(+) create mode 100644 content/sccp/sccp-2126.md diff --git a/content/sccp/sccp-2126.md b/content/sccp/sccp-2126.md new file mode 100644 index 000000000..368354b28 --- /dev/null +++ b/content/sccp/sccp-2126.md @@ -0,0 +1,28 @@ +--- +sccp: 2126 +network: Ethereum & Optimism +title: Increase C-rAtio to 300% +author: Kaleb (@kaleb-keny) +status: Draft +created: 2024-07-15 +type: Governance +--- + +# Simple Summary + +This SCCP proposes to increase the `issuanceRatio` on SNX Staking back to 500% or 20% in `issuanceRatio` terms. + +# Abstract + +The issuance ratio is the ratio that determines the maximum amount of sUSD that can be minted for a staked amount of snx collateral. + + +# Motivation + +The min cratio was recently lowered via an emergency decision as per [SCCP-2122](https://sips.synthetix.io/sccp/sccp-2122/) although the author of this sccp continues to question the effectiveness of that SCCP in safeguarding the system, this SCCP proposes to reset the staking ratio back to previous levels. + +# Copyright + +Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/). + + From 16c8b2726c3ec639cab78a7b0048c872450e921d Mon Sep 17 00:00:00 2001 From: kaleb Date: Mon, 15 Jul 2024 09:28:53 +0200 Subject: [PATCH 2/7] update headers --- content/sccp/sccp-2125.md | 4 +++- content/sccp/sccp-341.md | 4 +++- 2 files changed, 6 insertions(+), 2 deletions(-) diff --git a/content/sccp/sccp-2125.md b/content/sccp/sccp-2125.md index 59e87f5a0..194e8d56d 100644 --- a/content/sccp/sccp-2125.md +++ b/content/sccp/sccp-2125.md @@ -3,7 +3,9 @@ sccp: 2125 network: Optimism title: Lower maxMarketValue RNDR to zero author: Kaleb (@kaleb-keny) -status: Draft +status: Implemented +proposal: >- + https://snapshot.org/#/snxgov.eth/proposal/0xbc99bb416d0e331eb1c391d8fbc932615c7aac9f761ce38f787058fd6f19d7fd created: 2024-07-11 type: Governance --- diff --git a/content/sccp/sccp-341.md b/content/sccp/sccp-341.md index a7ba9ae54..da7cd44a9 100644 --- a/content/sccp/sccp-341.md +++ b/content/sccp/sccp-341.md @@ -3,9 +3,11 @@ sccp: 341 network: Base title: Lower maxMarketValue RNDR to zero author: Kaleb (@kaleb-keny) -status: Draft +status: Implemented created: 2024-07-11 type: Governance +proposal: >- + https://snapshot.org/#/snxgov.eth/proposal/0x244fcdd9c8434190758dc1391845faa6ab785863ecdc83ec6c8f422937b8e74c --- # Simple Summary From bc9e9066121b49aea86f0f7d9c35b26dfadd6563 Mon Sep 17 00:00:00 2001 From: kaleb Date: Mon, 15 Jul 2024 09:37:40 +0200 Subject: [PATCH 3/7] Update sccp-2126.md --- content/sccp/sccp-2126.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/content/sccp/sccp-2126.md b/content/sccp/sccp-2126.md index 368354b28..7e1c8a6eb 100644 --- a/content/sccp/sccp-2126.md +++ b/content/sccp/sccp-2126.md @@ -19,7 +19,7 @@ The issuance ratio is the ratio that determines the maximum amount of sUSD that # Motivation -The min cratio was recently lowered via an emergency decision as per [SCCP-2122](https://sips.synthetix.io/sccp/sccp-2122/) although the author of this sccp continues to question the effectiveness of that SCCP in safeguarding the system, this SCCP proposes to reset the staking ratio back to previous levels. +The min cratio was recently lowered via an emergency decision as per [SCCP-2122](https://sips.synthetix.io/sccp/sccp-2122/). Although the author of this sccp continues to question the effectiveness of that SCCP in safeguarding the system, this SCCP proposes to reset the staking ratio back to previous levels, given that the risks to the stability of the protocol are asymmetrically more pronounced should a price recovery take place and stakers. # Copyright From 53e58da8c2ffcdda83a9c88741f6b0b0a219b439 Mon Sep 17 00:00:00 2001 From: kaleb Date: Mon, 15 Jul 2024 09:41:23 +0200 Subject: [PATCH 4/7] Update sccp-2126.md --- content/sccp/sccp-2126.md | 5 +++-- 1 file changed, 3 insertions(+), 2 deletions(-) diff --git a/content/sccp/sccp-2126.md b/content/sccp/sccp-2126.md index 7e1c8a6eb..c64c1cb5a 100644 --- a/content/sccp/sccp-2126.md +++ b/content/sccp/sccp-2126.md @@ -10,7 +10,7 @@ type: Governance # Simple Summary -This SCCP proposes to increase the `issuanceRatio` on SNX Staking back to 500% or 20% in `issuanceRatio` terms. +This SCCP proposes to increase the min collateralization ratio back to 500% (or 20% in `issuanceRatio` terms). # Abstract @@ -19,7 +19,8 @@ The issuance ratio is the ratio that determines the maximum amount of sUSD that # Motivation -The min cratio was recently lowered via an emergency decision as per [SCCP-2122](https://sips.synthetix.io/sccp/sccp-2122/). Although the author of this sccp continues to question the effectiveness of that SCCP in safeguarding the system, this SCCP proposes to reset the staking ratio back to previous levels, given that the risks to the stability of the protocol are asymmetrically more pronounced should a price recovery take place and stakers. +The min c-ratio was recently lowered via an emergency decision as per [SCCP-2122](https://sips.synthetix.io/sccp/sccp-2122/). +The author of this sccp continues to question the effectiveness of that SCCP in safeguarding the system. This SCCP proposes to undo SCCP-2122 by setting the min cratio back to previous levels, given that the risks to the stability of the protocol are asymmetrically more pronounced if a price recovery should materialize. # Copyright From ae3bfa9e42521b2f868ba794cd8be5e297076df5 Mon Sep 17 00:00:00 2001 From: kaleb Date: Mon, 15 Jul 2024 09:42:20 +0200 Subject: [PATCH 5/7] Update sccp-2126.md --- content/sccp/sccp-2126.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/content/sccp/sccp-2126.md b/content/sccp/sccp-2126.md index c64c1cb5a..352e08477 100644 --- a/content/sccp/sccp-2126.md +++ b/content/sccp/sccp-2126.md @@ -20,7 +20,7 @@ The issuance ratio is the ratio that determines the maximum amount of sUSD that # Motivation The min c-ratio was recently lowered via an emergency decision as per [SCCP-2122](https://sips.synthetix.io/sccp/sccp-2122/). -The author of this sccp continues to question the effectiveness of that SCCP in safeguarding the system. This SCCP proposes to undo SCCP-2122 by setting the min cratio back to previous levels, given that the risks to the stability of the protocol are asymmetrically more pronounced if a price recovery should materialize. +The author of this sccp continues to question the effectiveness of that SCCP in safeguarding the system. This SCCP proposes to undo SCCP-2122 by setting the min cratio back to previous levels, given that the risks to the stability of the protocol are asymmetrically more pronounced if a price recovery materializes. # Copyright From 4c1227c153d196f5110eeecfa53d0e39777446ba Mon Sep 17 00:00:00 2001 From: kaleb Date: Mon, 15 Jul 2024 09:44:11 +0200 Subject: [PATCH 6/7] Update sccp-2126.md --- content/sccp/sccp-2126.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/content/sccp/sccp-2126.md b/content/sccp/sccp-2126.md index 352e08477..49ac2cd26 100644 --- a/content/sccp/sccp-2126.md +++ b/content/sccp/sccp-2126.md @@ -20,7 +20,7 @@ The issuance ratio is the ratio that determines the maximum amount of sUSD that # Motivation The min c-ratio was recently lowered via an emergency decision as per [SCCP-2122](https://sips.synthetix.io/sccp/sccp-2122/). -The author of this sccp continues to question the effectiveness of that SCCP in safeguarding the system. This SCCP proposes to undo SCCP-2122 by setting the min cratio back to previous levels, given that the risks to the stability of the protocol are asymmetrically more pronounced if a price recovery materializes. +The author of this sccp continues to question the effectiveness of that SCCP in safeguarding the system, especially during times of snx price pressure, given the moral hazard it insinuates in the behavior of stakers with significant debt. This SCCP proposes to undo SCCP-2122 by setting the min cratio back to previous levels, given that the risks to the stability of the protocol are asymmetrically more pronounced if a price recovery materializes. # Copyright From b2d9aebf9619722826454fc5475a77777e6aff2f Mon Sep 17 00:00:00 2001 From: kaleb Date: Mon, 15 Jul 2024 09:45:07 +0200 Subject: [PATCH 7/7] Update sccp-2126.md --- content/sccp/sccp-2126.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/content/sccp/sccp-2126.md b/content/sccp/sccp-2126.md index 49ac2cd26..6255859c9 100644 --- a/content/sccp/sccp-2126.md +++ b/content/sccp/sccp-2126.md @@ -1,7 +1,7 @@ --- sccp: 2126 network: Ethereum & Optimism -title: Increase C-rAtio to 300% +title: Increase C-RAtio to 500% author: Kaleb (@kaleb-keny) status: Draft created: 2024-07-15