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Create Synth Update Week 21 2021 28-05-21.md
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# Governance Update
## Live Votes
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-117: Lower the Wrappr MintFeeRate to 5 bp from 25 bp | Parameters | [Vote](https://app.boardroom.info/snxgov.eth/proposal/QmSiBtybdHLxAREGSVY1j6jAq6jtmcvYAxyjfuNSJmpCUh) |
Summary:
SCCP-117 proposes to lower the wrappr minting fee to 5 bp
Opened: May 27\
Closes: May 30
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-116: Reduce Issue Fee Rate on ETH backed loans to 25 bp from 50 bp | Parameters | [Vote](https://app.boardroom.info/snxgov.eth/proposal/QmbxFbf6RcJ7bf3xDtn4vBRDak2grWzGGRvtZTsegL9bou) |
Summary:
SCCP-116 proposes to decrease the minting fee on ETH backed loans to 25 bp.
Opened: May 26\
Closes: May 29
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-115: Increase Cap on Wrappr to 100k ETH from 75k ETH | Parameters | [Vote](https://app.boardroom.info/snxgov.eth/proposal/QmabjUCvkj2wZJbCirYYkLqjZK8Qu9wZVNe3oCzJBcZad4) |
Summary:
SCCP-115 proposes to increase the cap on the wrappr to 100k from 75k ETH.
Opened: May 26\
Closes: May 29
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-114: Lower the Wrppr MintFeeRate to 25 bp from 37.5 bp | Parameters | [Vote](https://app.boardroom.info/snxgov.eth/proposal/QmfRciqs3gybj5xajuFm4M1h1TRKdGR9DCyNFPEJSZHhcd) |
Summary:
SCCP-114 proposes to lower the minting fee on the wrappr to 25 bp.
Opened: May 26\
Closes: May 29
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-112: Ending ETH Trial Loan Programs | Treasury | [Vote](https://app.boardroom.info/snxgov.eth/proposal/QmbNtV62CSKsw2ojHBxs9QiSK9dP2Nwz6b2fmEMHtLJgoe) |
Summary:
SCCP-112 proposes to decommission the old ETH loan programs in a month.
Opened: May 25\
Closes: May 28
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-113: Reduce Curve SNX Inflation Rewards to 6k | Product | [Vote](https://app.boardroom.info/snxgov.eth/proposal/QmXw8rVuRTDNRj5x2gaBJVeYA4VvUQWTr4w3dHYeBuv2kV) |
Summary:
SCCP-113 proposes to lower the snx inflation rewards paid on the curve sUSD pool to 6k snx from 8k snx per week.
Opened: May 25\
Closes: May 28
## Recent Votes
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-111: Lower the Wrappr MintFeeRate to 37.5 bp from 50 bp | Parameters | [View](https://app.boardroom.info/snxgov.eth/proposal/QmNsa3LvGZ63Kg43UCfjsThrni9akYFnx3FrCqzteUSM6j) |
Summary:\
SCCP-111 proposes to lower the wrappr minting fee to 37.5 bp.
Outcome: Approved
Opened: May 24\
Closed: May 27
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SIP-137: Synchronized Epoch | Governance Procedure | [View](https://app.boardroom.info/snxgov.eth/proposal/QmcUVvCpFE3kL7RKPn74aU4wAjzcrZWgWWbwidDaiWXgAc) |
Summary:\
SIP-137 proposes to synchronize the governance epochs across different bodies of Synthetix.
Outcome: Approved and Implemented
Opened: May 21\
Closed: May 24
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-110: Increase Cap on Wrappr from 75k ETH from 50k ETH | Parameters | [View](https://app.boardroom.info/snxgov.eth/proposal/QmVUAPb2wJa5LmcsdavT51nP6MmTkjGTkvTzuCuouqctAJ) |
Summary:\
SCCP-110 proposes to increase the cap on the wrappr to 75k from 50k
Outcome: Approved and Implemented
Opened: May 21\
Closed: May 24
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-109: Lower the Wrppr MintFeeRate to 50 bp from 100 bp | Parameters | [View](https://app.boardroom.info/snxgov.eth/proposal/QmfSiajeDi1xCFw5abgCSrirmqyo78WTEaRVX35P6oUCqY) |
Summary:
SCCP-109 proposes to lower the minting mintFeeRate to 50 bp from 100 bp.
Outcome: Approved and Implemented
Opened: May 20th\
Closes: May 23rd
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-108: Reduce Issue Fee Rate on ETH backed loans to 50 bp from 200 bp | Parameters | [View](https://app.boardroom.info/snxgov.eth/proposal/QmaHWSWhUfEPZd8615CuRFGiQpYhC8Bau9UR52tSJkioNA) |
Summary:
SCCP-108 proposes to lower the minting fee on ETH backed loans to 50 bp from 200 bp.
Outcome: Approved and Implemented
Opened: May 20th\
Closes: May 23rd
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-107: Lower the Wrappr mintFeeRate to 75 bp from 100 bp | Parameters | [View](https://app.boardroom.info/snxgov.eth/proposal/QmargMv1jvL4FoE8YAwN6mymfXnxubkKMPHd7pWHmz4yxX) |
Summary:
SCCP-107 proposes to lower the minting mintFeeRate to 75 bp from 100 bp.
Outcome: Rejected
Opened: May 20th\
Closes: May 23rd
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-106:Reduce Issue Fee Rate on ETH backed loans to 75 bp from 200 bp | Parameters | [View](https://app.boardroom.info/snxgov.eth/proposal/QmfVgPuSJrBGkyDXANPrZap1wZHqnLqkata2pyxwGQcRLT) |
Summary:
SCCP-106 proposes to lower the minting fee on ETH backed loans to 75 bp from 200 bp.
Outcome: Rejected
Opened: May 20th\
Closes: May 23rd
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SIP-140: Allow Exchange Into Origin Address | Product Features | [View](https://app.boardroom.info/snxgov.eth/proposal/QmXZtXYxzDM5zRW7UhdFhgersSgbP29MYQdsy9QuahnKbt) |
Summary:
SIP-140 allows for exchanging into origin address.
Outcome: Approved
Opened: May 19th\
Closes: May 22nd
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SIP-139: Allow owner to reset the decentralized circuit breaker pricing | Product Features | [View](https://app.boardroom.info/snxgov.eth/proposal/QmXeC2gZKWzs2dfyP7mdsmRCRAD2o5APrGcw88SDGXuqWg) |
Summary:
SIP-139 allows for the reset of the decentralized circuit breaker.
Outcome: Approved
Opened: May 19th\
Closes: May 22nd
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SIP-138: Update Volume Tracking Event | Parameters | [View](https://app.boardroom.info/snxgov.eth/proposal/QmXXEY48srVDMThjm6ysKkd5ZCk6vXWtHSm8o1y2jvpTPs) |
Summary:
SIP-138 adds the ExchangeTracking event.
Outcome: Approved
Opened: May 19th\
Closes: May 22nd
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SCCP-105: Increase Cap on Wrappr to 50k ETH from 15k ETH | Parameters | [View](https://app.boardroom.info/snxgov.eth/proposal/QmPZSajd2NNiz63pUx9KXeFRpiRr3ruaGWsMrWnK1TYUr3) |
Summary:
SCCP-105 proposes to increase the cap on the wrppr contract to 50k ETH from 15k ETH
Outcome: Approved and Implemented
Opened: May 18th\
Closes: May 21st
## New Proposals (In Development)
| Name | Category | Link |
| ------------- |:-------------:| :-----:|
| SIP-142: Deprecate binary options contracts | Parameters/Development | [View](https://research.synthetix.io/t/sip-142-deprecate-binary-options-contracts/411) |
Summary:
This SIP proposes to deprecate the binary options contracts from the Synthetix smart contract suite.
These are all the contracts touching the binary options product offering in the Synthetix repo. Deprecating the contracts from the Synthetix repo grants the Thales team access to make changes as needed, reduces the cost of deploying the Synthetix contract suite, and supports an independent timeline for Thales to deploy binary options contract as required.