SCCP-322: Update Perps V3 Parameters
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Base |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2024-04-16 |
Simple Summary
This SCCP proposes to updates the Perps V3 MaxMarketValue (in Dollars) and MaxMarketSize (in the markets' native currency), as per the below:
| Markets | Current MMS | New MMS | Current MMV | New MMV |
|---|---|---|---|---|
| btc | UNCHANGED | UNCHANGED | 0 | 5,000,000 |
| eth | UNCHANGED | UNCHANGED | 0 | 7,000,000 |
| wif | 152,000 | 750,000 | 500,000 | 1,500,000 |
| sol | 2,900 | 5,000 | UNCHANGED | UNCHANGED |
Abstract
The cap is determined by the minimum between the maxMarketValue (in USD) and the value of maxMarketSize in USD, as per SIP-361.
Motivation
This sccp introduces that maxMarketValue feature on ETH and BTC, which was kept at the default value of zero when SIP-361 was implemented.
The cap on WIF was bumped following increased utilization of this markets and it's high turnover, while the cap on SOL was also increased due to the recent price action that resulted in a significant portion of the open interest (500K$) being reduced.
Copyright
Copyright and related rights waived via CC0.