This SCCP proposes to update the perp-v2 parameters as per the below configurations:
\n| \n | Existing | \nProposed | \nChange | \n
|---|---|---|---|
| sOP | \n700,000 | \n1,200,000 | \n+500,000 | \n
| \n | Existing | \nProposed | \nChange | \n
|---|---|---|---|
| sDYDX | \n10,000,000 | \n15,000,000 | \n+ 5,000,000 | \n
| sBCH | \n340,000 | \n500,000 | \n+ 160,000 | \n
| sUNI | \n4,000,000 | \n8,000,000 | \n+ 4,000,000 | \n
| sFLOW | \n5,000,000 | \n10,000,000 | \n+ 5,000,000 | \n
Below is a description on the parameters being updated:
\nmaxMarketValue is the maximum amount of open interest allowed on long and short positions in a given perp market.skewScale is a scaling parameter that helps calibrate the amount of slippage (or price improvement) a position receives when a position is modified. It also is a parameter that affects the speed by which funding rate changes.The primary motivation behind these parameter changes:
\nPlease note the below important specifications on the timing of the parameter updates:
\nmaxMarketValue can be changed immediately.skewScale can be changed by at most 10% per day (whether up or down) until it reaches the target specified in this SCCP. However, if the existing market is utilized by more than 90% of the prevailing open interest (on both long and short sides), then the skew scale parameter can be updated immediately.Copyright and related rights waived via CC0.
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