Simple Summary

This SCCP proposes to update the RUNE and GMX market parameters as per the below:

Max Market Value	Current	Proposed	Proposed $	CEX OI in $
GMX	21,000	27,720	1.00 M	8 M
RUNE	400,000	800,000	1.35 M	15 M

Skew Scale	Current	Proposed	Slippage Per M$	CEX Slippage Per M$
GMX	112,500	60,000	2,314 bp	1,085 bp
RUNE	25,500,000	12,750,000	233 bp	60 bp

Abstract

The description of the parameters changes is as follows:

• skewScale is the scaling factor of the relevant market in the underlying currency for computing PD and Funding Rates.
• MaxMarketValue is the maximum possible open interest on any given side of a perp market.

Motivation

The main motivation is to increase the caps on markets with high turnover and high utilization all the while maintaing the incentive of arbitrages in balancing out the skew.

Copyright

Copyright and related rights waived via CC0.