Summary:
Requesting a fee change from 4000000 → 1000000 on the USDC/USDM pool on Polygon, 0xd8001ce95a13168aa4f7d70b5298962b7cadf6dd (link)
Motivation:
This pool is motivated to be an interchange between USDC and USDM as a main trading pair. Given it’s stableswap-ng, it supports rebasing tokens which makes it a great fit for maintaining a groundswell of liquidity.
To improve its function as a trading venue, we suggest lowering the fee to 1bps from 4bps. LPs are otherwise holding half of a rebasing token earning close to the federal funds rate which can help the lower trading friction in terms of attracting sticky LPs.
Specification:
0x2d12D0907A388811e3AA855A550F959501d303EE is the deployer of stableswap-ng factory, which can still change fees on the poll
For:
- Simplifies trading for USDM/USDC on Polygon
- Helps build Curve prominence as a stablecoin clearing venue on Polygon
Against:
- Slightly less attractive for LPs