From e36df6abadfdfb5ccd8c375569569213670de06a Mon Sep 17 00:00:00 2001 From: BurtRock <101583597+BurtRock@users.noreply.github.com> Date: Wed, 25 Oct 2023 10:04:46 -0700 Subject: [PATCH 1/2] Create sip-346.md --- content/sips/sip-346.md | 30 ++++++++++++++++++++++++++++++ 1 file changed, 30 insertions(+) create mode 100644 content/sips/sip-346.md diff --git a/content/sips/sip-346.md b/content/sips/sip-346.md new file mode 100644 index 000000000..003e7b101 --- /dev/null +++ b/content/sips/sip-346.md @@ -0,0 +1,30 @@ +--- +sip: 346 +title: Perps v3 Integrator Incentive +network: Ethereum, Optimism, Base +status: Draft +type: Governance +author: Burt Rock (BurtRock) +--- + +## Simple Summary +Introduce an integrator fee share mechanism for Perps v3, where integrators earn a 20% base fee in sUSD from trades executed through a Synthetix Perps integration. + +## Abstract +This SIP proposes a fee-sharing mechanism for integrators of the Synthetix Perps v3 system. Integrators will earn a consistent 20% fee in sUSD for trades processed through their integration. + +## Motivation + +While v2 had a modest fee share program managed by the treasury, this solution came with considerable overhead for the Treasury Council and a poor incentive for frontends which led to several integrators reversing course on their integrations. Finite assets in the treasury also makes fee share in SNX from the treasury an unsustainable model which cannot scale as integrators are more successful at driving volume. + +Integrators have also shown and expressed a willingness to contribute incentives and marketing campaigns which directly benefit Synthetix such as token rewards for trading, referrals, and spend on advertising and additional integrations, but currently rely on finite outside resources. + +## Specification + +Integrators will request a unique tracking code for each integration they wish to track and provide an address to which they will recieve fees. A 20% fee in sUSD will be directed to the corresponding address for all trades executed using an integrator tracking code. + +## Rationale +Offering a transparent and easily comprehensible fee structure is key to attracting and retaining integrators. A 20% fee share in sUSD provides a low overhead, scalable solution for integrator incentives which provides both the possibility of profit for integration partners, and a scalable resource to encourage investment in further marketing or integrations where integrators can directly benefit from their investments. + +## Copyright +Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/). From 92d303828e17ed6e09d2c5c2b3ff0a441cbf2baf Mon Sep 17 00:00:00 2001 From: cavalier_eth <91091124+cavalier-eth@users.noreply.github.com> Date: Tue, 31 Oct 2023 17:53:08 +1100 Subject: [PATCH 2/2] Update sip-346.md fix author name, constrain changes to Base network only --- content/sips/sip-346.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/content/sips/sip-346.md b/content/sips/sip-346.md index 003e7b101..941b73024 100644 --- a/content/sips/sip-346.md +++ b/content/sips/sip-346.md @@ -1,10 +1,10 @@ --- sip: 346 title: Perps v3 Integrator Incentive -network: Ethereum, Optimism, Base +network: Base status: Draft type: Governance -author: Burt Rock (BurtRock) +author: Burt Rock (@BurtRock) --- ## Simple Summary