SIP4 explained: reduce fee claim window (Action Required)
An explanation of SIP4 (Synthetix Improvement Proposal), which shortens the fee claim window from six weeks to 2 weeks.
SIP-4 changes reward claims. It is HIGHLY recommended that you check Mintr.synthetix.io to verify you have no unclaimed fees by Thursday, 27th of June at 7pm (AEDT). For more info please see below.
One of the SIPs (Synthetix Improvement Proposals) we’re implementing this week is SIP-4, reduced fee claim window. This refers to the number of fee periods an SNX staker can claim rewards from, which is currently six. SIP4 outlines why this change is being made, but this post will summarise it for the community.
We previously announced that stakers with unclaimed fees from more than two weeks ago must claim these fees by this Thursday, 27th of June at 7pm (AEDT). Currently, stakers can claim for up to the last six fee periods (i.e. for up to six weeks in total). However, as discussed in our first community governance call, the six week claim window is causing a lag in the incentives for stakers to take action on their C Ratio.
This change will be implemented shortly after Thursday, 27th of June at 7pm (AEDT).
If you have not claimed rewards by the time above you risk losing any unclaimed rewards, it is HIGHLY recommended that you check Mintr.synthetix.io to verify you have claimed all fees.
See this screenshot for how to claim fees:
EDIT: One our faithful community Guardians, gmgh, supplied the following screenshot to make it abundantly clear:
If you have any questions, please join us in Discord.