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Simple Summary

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This SIP proposes the addition of WETH, wstETH, cbETH, and cbBTC tokens as LP collateral on Base V3 deployment.

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Abstract

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In order to enhance the diversity of yield-generation and exposure options for LP collateral within the Synthetix ecosystem, this SIP aims to add WETH, wstETH, cbETH, and cbBTC tokens as LP collateral on Base V3 deployment.

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Motivation

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  1. Capital Efficiency: Expand use cases for WETH, wstETH, cbETH, and cbBTC holders, letting them earn yield while retaining exposure to underlying yields.
    2. \n
  2. Diversification: Incorporate multiple types of ETH- and BTC-based derivatives to spread risk.
    3. \n
  3. Ecosystem Growth on Base: Attract additional users and liquidity through widely recognized “blue-chip” derivatives.
    4. \n
  4. Arbitrum Match: Provide a home for wstETH and WETH Arbitrum LPs on Base.
    5. \n
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Technical Specification

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None of these LP assets should be eligibile for minting snxUSD against deposits.

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Test Cases

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N/A

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Configurable Values

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Each LP parameter (LP cap, liquidation ratio, etc) will be configured via SCCP.

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Note: Rejected as per author's request

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Copyright

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Copyright and related rights waived via CC0.

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