SCCP-2150: Deprecate GHO and USDe Wrappers
| Author | |
|---|---|
| Status | Vote_Pending |
| Type | Governance |
| Network | Ethereum & Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2024-12-03 |
Simple Summary
This SCCP proposes deprecate the ethereum GHO and USDe wrappers on ethereum and move the liquidity to the USDC wrapper on optimism.
Abstract
The proposal entails the protocol:
- Drawing out GHO and USDe liquidity from the ethereum wrappers (5m$ worth)
- Swapping the GHO and USDe to USDC
- Sending the USDC to optimism
- Wrapping the USDC to mint sUSD
- Burning the sUSD
Motivation
The main motivation is the recent drawdowns in exit liquidity on the optimism wrapper. The move will facilitate users wanting to exit sUSD without undo effects on the peg. In addition, the recent increase in sUSD sent to L2 is limiting the amount of sUSD that can be swapped to v3, this proposal will increase that limit by 5m$.
Copyright
Copyright and related rights waived via CC0.