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sccp 2140 (#2133)
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kaleb-keny authored Oct 31, 2024
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# Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).


Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
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---
sccp: 2140
network: Ethereum & Optimism
title: Move the Wrapped USDe to Optimism
author: Kaleb
status: Vote_Pending
created: 2024-10-30
type: Governance
---

# Simple Summary

This SCCP proposes to move the USDe held on the [ethereum wrapper](https://etherscan.io/address/0x293F72F9B288a16480135e876993861bf87ea56B) to the USDe [wrapper on optimism](https://optimistic.etherscan.io/address/0xA1cABc35C2931F0d985Df58D19be8B6071DFc9F6).

# Abstract

Currently 5m USDe are held on the ethereum wrapper, while most of the trading activity is on optimism. This SCCP proposes to move the USDe to the USDe wrapper optimism, which is closer to traders. That along with USDe being instantly bridgeable via the [stargate bridge](https://stargate.finance/bridge), gives traders instant access to liquidity and alleviate pressure on the sUSD peg.
This is done by the protocol minting sUSD to release all the USDe on ethereum, followed by sending the USDe to optimism and wraping that USDe on the L2 wrapper. This is done along with raising the cap of the USDe wrapper on optimism to 15m sUSD and lower the wrapper cap on ethereum to 0. After this is performed the minted sUSD is burned on optimism, ensuring that debt remains unchanged on stakers.

# Motivation

The proposed changes are in light of improving the traders user experience on optimism, where they can get instant access to liquidity via the USDe wrapper on optimism, instead of waiting for the 7 day relay the sUSD from L2 to L1.


# Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).


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proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0x2e5e46cbe9ee39851a34479f6ff7a88c92033e6f0096ec41819f60f78dc41a1d
created: 2024-10-08
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0xc14f719687bfee53b436957bda6d631bc3f1847ce11e3f76945d49d36d46adbd
author: Kaleb
---

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---
sccp: 359
title: Update Perp Market Parameters - Max Funding Velocity
network: Base
network: Arbitrum
status: Draft
type: Governance
created: 2024-10-16
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