This SIP changes the fee period claimable to one fee period, which aims to address current issues with fees rollover and a providing a clear strategy for stakers in regards to how often they should claim their rewards. Reducing the fee period claimable to one period also reduces the complexity and reduces the gas cost of claiming fees for stakers.
\nThe current fee claim window of two periods creates ambiguity about the fee rollover mechanism and was scheduled to be resolved by making fee claimable only in one period before they rollover. Also reducing fee periods to one period is necessary to increase the responsiveness of minters to the incentives within the system. Due to the way fees are currently claimed, and the way unclaimed fees rollover there needs to be at least two fee periods worth of fees unclaimed before fees begin to rollover and be claimable. This SIP aims to fix the fee rollover issue as described in SIP-4.
\nThere are concerns in the community that 1 week is too short of a period and too regular to be able to claim in case people are \"away from crypto\". We have provided the ability for automated bots or mobile/ hot wallets to call claimOnBehalf of your cold storage wallet to claim Fees and Rewards.\nThis SIP implementation also depends on SIP 10: Upgrade Delegate Powers and SIP 14: Allow delegation of Synthetix Exchange function to another address. Allowing delegation of issuing & burning sUSD and exchanging. This will enable fully automated management delegated management of your SNX c-ratio, claiming and hedging without the ability to transfer funds to protect them if the delegate private key is compromised.
\nThere have been several SCCPs proposed to increase the incentives in the system to ensure the sUSD peg is maintained. The reason for this is that a user is not sufficiently motivated to adjust their c ratio when they can wait for either the SNX price to rise in a later fee period or wait until their fees are about to expire before adjusting their ratio.
\nTime based staking will also be a follow up implementation meaning that rewards will be earned based on your debt % over time for only 1 fee period. This is similar to how the sETH unipool and curvepool's work with their SNX staking rewards of their respective Liquidity Provider tokens.
\nWe're also aiming to have built a simple delegate Dapp to work in Mobile Dapp browsers. So you can BurnToTarget, Claim, Mint, Burn and Exchange on the run.
\nhttps://github.com/Synthetixio/synthetix/pull/464/files?file-filters%5B%5D=.js
\nhttps://github.com/Synthetixio/synthetix/pull/464
\nCopyright and related rights waived via CC0.
"}},"pageContext":{"id":"13acc066-f172-5354-b5e8-bb9a1c2294dd","frontmatter__sip":9,"__params":{"frontmatter__sip":"9"}}},"staticQueryHashes":[]}