Thanks for your reply, just one thing on the burn fees at 0% till 55% exposure to EUROC: it’s doable but it means that technically the convergence point for the reserves of the protocol would be more at 57/58%-42%, as it’ll increase the arbitrage window for market makers.
Also for everyone, here is a summary of the fee schedule as the spreadsheet can be tricky
For EUROC:
- Mint: 0% fees till 73% exposure, 0.05% at 74% exposure, 0.1% at 74.5% and 100% above 75%. This means that it’s impossible to mint EUROC above a 75% exposure
- Burn: 100% burn fees below 50% exposure (we cannot have less than 50% exposure to EUROC), 0.1% fees at 50.5%, 0.1% at 59% and 0% at 67% exposure and beyond
For bC3M:
- Mint: -0.4% fees till 25% exposure, -0.35% at 33%, 0% at 40% exposure, 0.2% at 49.5% exposure and 100% above 50% exposure (exposure to bC3M cannot be greater than 50%)
- Burn: 100% burn fees till 25% exposure (exposure to bC3M cannot be less than 25%), 0.5% at 26% exposure and beyond