The Schedar Release - Fee Burn

Synthetix -

Wednesday, February 15th, the Schedar release will begin. There will be no downtime during the release. The release includes:

  • SIP-255: Burning of fees instead of distribution - Fees will no longer be distributed to users but will be burned weekly to decrease staker debt.

As a result of this release, users will no longer claim their pro-rata distribution of trading fees. Instead, fees will be burned to decrease debt for stakers. Inflationary rewards will still be claimed weekly. When claiming, stakers will be shown the number of SNX & sUSD debt burned. Stakers can rejoice in knowing that the weekly claiming ritual has not ended.

Do you have any questions?

If you have any comments or questions regarding the release, please join the discussion on Discord. This release is named Schedar, like all releases, after a star, listed in order of visual magnitude (source).