This SCCP proposes the establishment of a Gnosis Safe, managed by the Treasury, to hold the 5 million sUSD minted under SCCP-2151.\nTreasury will use the safe under 0xf2107A85d8b79CBd2c5b2Bb63CA73Fd068040b67 to offer market makers sUSD loans.\nMarket makers can deposit yield-bearing stataOptUSDCn tokens as collateral, which can be minted on paraswap, and receive sUSD loans at 95% LTV with no interest or fees. To reclaim their collateral, market makers simply return the borrowed sUSD to the safe.
The primary motivation is to provide market makers with a seamless mechanism to on-ramp and off-ramp sUSD, enhancing the trading experience for traders on Optimism.\nMarket makers interested in participating can submit a request via the Synthetix Discord. Treasury has full discretion over program applicants, reserving the right to reject small traders or those engaging in non perp market arbitrage activities. Priority will be given to market makers with a proven track record of executing high-volume arbitrage on Optimism.
\nCopyright and related rights waived via CC0.
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