From 3d73dcfb5da37ad8b5d8cafbc4ff6bd4689d111f Mon Sep 17 00:00:00 2001 From: Fenway-snx <181822346+Fenway-snx@users.noreply.github.com> Date: Mon, 20 Jan 2025 20:47:25 +1100 Subject: [PATCH] Update sip-414.md --- content/sips/sip-414.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/content/sips/sip-414.md b/content/sips/sip-414.md index 0611ffe30..f78e41519 100644 --- a/content/sips/sip-414.md +++ b/content/sips/sip-414.md @@ -10,15 +10,15 @@ release: TBD --- ## Simple Summary -Create a tool to allow stakers to split their staking account NFT (i.e. Staked SNX and debt) into two new account NFTs that each represent 50% of the previous NFT. +Create a tool to allow stakers to split their staking account NFT (i.e. Staked SNX and debt) into two new account NFTs in a split of their own choosing. ## Abstract -Currently there is no way for a staker to split their account into smaller accounts without repaying all of their debt, unstaking, and restaking in smaller allotments. This SIP proposes a way to allow users to split their account in 2 equal 50/50 sub accounts. +Currently there is no way for a staker to split their account into smaller accounts without repaying all of their debt, unstaking, and restaking in smaller allotments. This SIP proposes a way to allow users to split their account into 2 new NFT accounts in a ratio of their own choosing (e.g. 50/50, or 20/80, or 25/75, etc). ## Specification -The tool being built will allow an account NFT to be split in two equal sub accounts only. For example, if a staker has 100 SNX and 20 sUSD worth of debt, after splitting their account they will have 2 accounts, each with 50 SNX and 10 sUSD worth of debt. +The tool being built will allow an account NFT to be split in two new account NFTs. For example, if a staker has 100 SNX and 20 sUSD worth of debt, should they elect to split their account 25/75, their two new account NFTs would have 25 SNX and 5 sUSD worth of debt and 75 SNX and 15 sUSD worth of debt. -Should users wish to split a sub account again, they can with the same 50/50 split. +Should users wish to split a sub account again, they can. ## Rationale Historically, many users staked SNX from a single account. Given debt inflation and the complexities of debt management, many of the long term stakers have never gone through the exercise of unwinding and restaking their SNX from multiple accounts should they have personal needs to do so.