From 7b7fd44e4e2a6d66cbdb85b9e33a9212208ee7f4 Mon Sep 17 00:00:00 2001 From: Fenway-snx <181822346+Fenway-snx@users.noreply.github.com> Date: Mon, 20 Jan 2025 20:34:44 +1100 Subject: [PATCH 1/3] Create sip-414.md --- content/sips/sip-414.md | 31 +++++++++++++++++++++++++++++++ 1 file changed, 31 insertions(+) create mode 100644 content/sips/sip-414.md diff --git a/content/sips/sip-414.md b/content/sips/sip-414.md new file mode 100644 index 000000000..0611ffe30 --- /dev/null +++ b/content/sips/sip-414.md @@ -0,0 +1,31 @@ +--- +sip: 414 +title: Create SNX Staking Account Splitter +author: Fenway +type: Governance +network: Ethereum & Optimism +Created: 2025-01-20 +status: Draft +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. + +## 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. + +## 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. + +Should users wish to split a sub account again, they can with the same 50/50 split. + +## 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. + +Staking has been a core part of Synthetix's design historically. Since the early days of staking, sophistication of asset management has improved, and staker needs have evolved. There are many stakers that would like to hold their staked assets in several different wallets, but have been unable to as they've remained staked for over 5 years. Providing the option to split their accounts will allow stakers to better manage their portfolio and account for their SNX holdings. + +In additon, splitting accounts can provide account management benefits with the introduction of SIP-420. Should it be approved, users may wish to split their NFTs into several smaller accounts to better manage their staking positions and liquidity needs in the new pool. + +## Copyright +Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/). 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 2/3] 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. From 22d91a2d7898b90cb897b4ffdf78dac77768a29e Mon Sep 17 00:00:00 2001 From: cavalier_eth <91091124+cavalier-eth@users.noreply.github.com> Date: Fri, 24 Jan 2025 10:58:07 +1100 Subject: [PATCH 3/3] Rejecte sip-414.md no longer required --- content/sips/sip-414.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/content/sips/sip-414.md b/content/sips/sip-414.md index f78e41519..02db9de6a 100644 --- a/content/sips/sip-414.md +++ b/content/sips/sip-414.md @@ -5,7 +5,7 @@ author: Fenway type: Governance network: Ethereum & Optimism Created: 2025-01-20 -status: Draft +status: Rejected release: TBD ---