SCCP-2037: Increase `maxPriceDivergence` for perps v2 markets
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2023-08-15 |
Simple Summary
Increase the maxPriceDivergence parameter for all Perps V2 markets from 2% to 10%.
Abstract
The maxPriceDivergence setting is used to prevent trades from confirming when there are large deviations between the onchain Chainlink price and the offchain Pyth price. The setting is intended to prevent trading on bad price updates, however the current setting restricts trading during volatile periods. During the time when Pyth prices have moved but Chainlink hasn't yet updated, trades at the market price will revert.
Motivation
Increasing the maxPriceDivergence setting will allow trading to continue during volatility and prevent keepers from spending significant gas on trades that will revert.
Copyright
Copyright and related rights waived via CC0.