SCCP-368: Enable sUSDC to be used as margin on Arbitrum
| Author | Kaleb |
|---|---|
| Status | Vote_Pending |
| Type | Governance |
| Network | Arbitrum |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2024-11-22 |
Simple Summary
This SCCP proposes to enable sUSDC to be used as margin on Perps v3 with no discount being applied on the margin or slippage.
Abstract
Enabling USDC margin to be used on Perps V3 Arbitrum is done with the setCollateralConfiguration under PerpsMarketProxy, implemented under this PR.
Motivation
Originally due to the USDx peg issues, this was not implemented in order to ensure that traders could get back their USDC margin after having wrapped the token to mint sUSDC. However, since LP's minting USDx had been restricted in SCCP-352 and the peg state of USDx is constrained to the point of allowing margining of USDC with low risk of wrapper liquidity being depleted by LPs.
Copyright
Copyright and related rights waived via CC0.