Sccp 388

content/sccp/sccp-388.md

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+---
+sccp: 388
+title: Support sUSDS as Margin on Perps V3
+network: Base
+status: Draft
+type: Governance
+created: 2025-01-30
+author: Robin
+---
+
+# Simple Summary
+
+sUSDS is Spark's Savings USDS, which is an ERC-4626 representation of USDS in the Sky Savings Rate Module (SSR). sUSDS is redeemable 1:1 for USDC via the Spark Peg Stability Module (PSM), which is currently integrated into 1inch on Base.
+
+Information on sUSDS and the Spark PSM can be found [here](https://docs.spark.fi/dev/savings/susds-token) and [here](https://docs.spark.fi/dev/savings/spark-psm), respectively.
+
+This SCCP proposes to add sUSDS as margin to Perps V3 on Base with the following implementation parameters:
+
+| **Margin** | **Discount Lower** | **Discount Upper** | **Max Collateral Amount** | **SkewScale** |
+|:----------:|:------------------:|:------------------:|:-------------------------:|:-------------:|
+|    sUSDS   |        TBD       |        TBD       |            TBD            |     TBD    |
+
+sUSDS 
+- the `discountScalar` would be set to 1 for all margins
+- the collateral liquidation penalty is 3 bp (collateralLiquidateRewardRatioD18).
+- The caps would be set to allow for 3 simultaneous margins and 10 positions in any given account
+- The synth representation of the above margins would have a atomic swap fee of 30%, as a disincentive on swapping until [SIP](https://sips.synthetix.io/sips/sip-406/) is implemented
+
+# Motivation
+
+The main motivation is to add the first yield-bearing stablecoin option as margin on Perps v3 Base, so that users can earn yield, both while they trade and while they have no open positions.
+
+
+# Copyright
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).