{"componentChunkName":"component---src-pages-sccp-sccp-markdown-remark-frontmatter-sccp-tsx","path":"/sccp/sccp-2069/","result":{"data":{"markdownRemark":{"fileAbsolutePath":"/vercel/path0/content/sccp/sccp-2069.md","frontmatter":{"sip":null,"sccp":2069,"title":"Update Perps V2 Parameters","network":"Optimism","author":"Kaleb (@kaleb-keny)","type":"Governance","proposal":"https://snapshot.org/#/snxgov.eth/proposal/0xa73b1642cd5659aebcf8e4d0fa084fa0b395ec5e0b68b5d418ff3ac0d856a796","implementor":null,"release":null,"created":"2023-12-15T00:00:00.000Z","updated":null,"status":"Implemented"},"html":"<h1 id=\"simple-summary\" style=\"position:relative;\"><a href=\"#simple-summary\" aria-label=\"simple summary permalink\" class=\"anchor before\"><svg aria-hidden=\"true\" focusable=\"false\" height=\"16\" version=\"1.1\" viewBox=\"0 0 16 16\" width=\"16\"><path fill-rule=\"evenodd\" d=\"M4 9h1v1H4c-1.5 0-3-1.69-3-3.5S2.55 3 4 3h4c1.45 0 3 1.69 3 3.5 0 1.41-.91 2.72-2 3.25V8.59c.58-.45 1-1.27 1-2.09C10 5.22 8.98 4 8 4H4c-.98 0-2 1.22-2 2.5S3 9 4 9zm9-3h-1v1h1c1 0 2 1.22 2 2.5S13.98 12 13 12H9c-.98 0-2-1.22-2-2.5 0-.83.42-1.64 1-2.09V6.25c-1.09.53-2 1.84-2 3.25C6 11.31 7.55 13 9 13h4c1.45 0 3-1.69 3-3.5S14.5 6 13 6z\"></path></svg></a>Simple Summary</h1>\n<p>This SCCP proposes to update the perps v2 parameters as per the below:</p>\n<h2 id=\"skew-scale\" style=\"position:relative;\"><a href=\"#skew-scale\" aria-label=\"skew scale permalink\" class=\"anchor before\"><svg aria-hidden=\"true\" focusable=\"false\" height=\"16\" version=\"1.1\" viewBox=\"0 0 16 16\" width=\"16\"><path fill-rule=\"evenodd\" d=\"M4 9h1v1H4c-1.5 0-3-1.69-3-3.5S2.55 3 4 3h4c1.45 0 3 1.69 3 3.5 0 1.41-.91 2.72-2 3.25V8.59c.58-.45 1-1.27 1-2.09C10 5.22 8.98 4 8 4H4c-.98 0-2 1.22-2 2.5S3 9 4 9zm9-3h-1v1h1c1 0 2 1.22 2 2.5S13.98 12 13 12H9c-.98 0-2-1.22-2-2.5 0-.83.42-1.64 1-2.09V6.25c-1.09.53-2 1.84-2 3.25C6 11.31 7.55 13 9 13h4c1.45 0 3-1.69 3-3.5S14.5 6 13 6z\"></path></svg></a>Skew Scale</h2>\n<table>\n<thead>\n<tr>\n<th align=\"center\"><strong>Market</strong></th>\n<th align=\"center\"><strong>Current Scale</strong></th>\n<th align=\"center\"><strong>Proposed Scale</strong></th>\n<th align=\"center\"><strong>Proposed Slippage</strong></th>\n<th align=\"center\"><strong>Cex Slippage</strong></th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td align=\"center\">CELO</td>\n<td align=\"center\">41,250,000</td>\n<td align=\"center\">20,625,000</td>\n<td align=\"center\">42</td>\n<td align=\"center\">15</td>\n</tr>\n<tr>\n<td align=\"center\">CRV</td>\n<td align=\"center\">75,000,000</td>\n<td align=\"center\">37,500,000</td>\n<td align=\"center\">20</td>\n<td align=\"center\">9</td>\n</tr>\n<tr>\n<td align=\"center\">DOT</td>\n<td align=\"center\">15,000,000</td>\n<td align=\"center\">7,500,000</td>\n<td align=\"center\">10</td>\n<td align=\"center\">4</td>\n</tr>\n<tr>\n<td align=\"center\">ENJ</td>\n<td align=\"center\">34,500,000</td>\n<td align=\"center\">17,250,000</td>\n<td align=\"center\">84</td>\n<td align=\"center\">15</td>\n</tr>\n<tr>\n<td align=\"center\">EOS</td>\n<td align=\"center\">96,000,000</td>\n<td align=\"center\">48,000,000</td>\n<td align=\"center\">14</td>\n<td align=\"center\">4</td>\n</tr>\n<tr>\n<td align=\"center\">ETC</td>\n<td align=\"center\">3,000,000</td>\n<td align=\"center\">2,250,000</td>\n<td align=\"center\">11</td>\n<td align=\"center\">4</td>\n</tr>\n<tr>\n<td align=\"center\">LDO</td>\n<td align=\"center\">14,250,000</td>\n<td align=\"center\">7,125,000</td>\n<td align=\"center\">30</td>\n<td align=\"center\">12</td>\n</tr>\n<tr>\n<td align=\"center\">LINK</td>\n<td align=\"center\">15,000,000</td>\n<td align=\"center\">7,500,000</td>\n<td align=\"center\">4</td>\n<td align=\"center\">3</td>\n</tr>\n<tr>\n<td align=\"center\">PEPE</td>\n<td align=\"center\">22,500,000,000,000</td>\n<td align=\"center\">11,250,000,000,000</td>\n<td align=\"center\">32</td>\n<td align=\"center\">14</td>\n</tr>\n<tr>\n<td align=\"center\">SUI</td>\n<td align=\"center\">50,600,000</td>\n<td align=\"center\">25,300,000</td>\n<td align=\"center\">30</td>\n<td align=\"center\">10</td>\n</tr>\n<tr>\n<td align=\"center\">1INCH</td>\n<td align=\"center\">45,000,000</td>\n<td align=\"center\">33,750,000</td>\n<td align=\"center\">40</td>\n<td align=\"center\">16</td>\n</tr>\n<tr>\n<td align=\"center\">ZEC</td>\n<td align=\"center\">585,000</td>\n<td align=\"center\">438,750</td>\n<td align=\"center\">37</td>\n<td align=\"center\">14</td>\n</tr>\n<tr>\n<td align=\"center\">ADA</td>\n<td align=\"center\">300,000,000</td>\n<td align=\"center\">150,000,000</td>\n<td align=\"center\">6</td>\n<td align=\"center\">3</td>\n</tr>\n<tr>\n<td align=\"center\">ALGO</td>\n<td align=\"center\">207,750,000</td>\n<td align=\"center\">103,875,000</td>\n<td align=\"center\">24</td>\n<td align=\"center\">10</td>\n</tr>\n<tr>\n<td align=\"center\">APT</td>\n<td align=\"center\">6,075,000</td>\n<td align=\"center\">3,037,500</td>\n<td align=\"center\">20</td>\n<td align=\"center\">7</td>\n</tr>\n<tr>\n<td align=\"center\">AXS</td>\n<td align=\"center\">3,750,000</td>\n<td align=\"center\">2,812,500</td>\n<td align=\"center\">24</td>\n<td align=\"center\">9</td>\n</tr>\n<tr>\n<td align=\"center\">PYTH</td>\n<td align=\"center\">16,500,000</td>\n<td align=\"center\">28,875,000</td>\n<td align=\"center\">42</td>\n<td align=\"center\">19</td>\n</tr>\n</tbody>\n</table>\n<p><em>Slippage refers to the price impact incurred from trading with a 100k$ notional</em></p>\n<h2 id=\"fees\" style=\"position:relative;\"><a href=\"#fees\" aria-label=\"fees permalink\" class=\"anchor before\"><svg aria-hidden=\"true\" focusable=\"false\" height=\"16\" version=\"1.1\" viewBox=\"0 0 16 16\" width=\"16\"><path fill-rule=\"evenodd\" d=\"M4 9h1v1H4c-1.5 0-3-1.69-3-3.5S2.55 3 4 3h4c1.45 0 3 1.69 3 3.5 0 1.41-.91 2.72-2 3.25V8.59c.58-.45 1-1.27 1-2.09C10 5.22 8.98 4 8 4H4c-.98 0-2 1.22-2 2.5S3 9 4 9zm9-3h-1v1h1c1 0 2 1.22 2 2.5S13.98 12 13 12H9c-.98 0-2-1.22-2-2.5 0-.83.42-1.64 1-2.09V6.25c-1.09.53-2 1.84-2 3.25C6 11.31 7.55 13 9 13h4c1.45 0 3-1.69 3-3.5S14.5 6 13 6z\"></path></svg></a>Fees</h2>\n<table>\n<thead>\n<tr>\n<th align=\"center\"><strong>Market</strong></th>\n<th align=\"center\"><strong>Current</strong></th>\n<th align=\"center\"><strong>Proposed</strong></th>\n<th align=\"center\"><strong>Curve</strong></th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td align=\"center\">stETH/ETH</td>\n<td align=\"center\">0 / 2</td>\n<td align=\"center\">10 / 10</td>\n<td align=\"center\">10 / 10</td>\n</tr>\n</tbody>\n</table>\n<h1 id=\"abstract\" style=\"position:relative;\"><a href=\"#abstract\" aria-label=\"abstract permalink\" class=\"anchor before\"><svg aria-hidden=\"true\" focusable=\"false\" height=\"16\" version=\"1.1\" viewBox=\"0 0 16 16\" width=\"16\"><path fill-rule=\"evenodd\" d=\"M4 9h1v1H4c-1.5 0-3-1.69-3-3.5S2.55 3 4 3h4c1.45 0 3 1.69 3 3.5 0 1.41-.91 2.72-2 3.25V8.59c.58-.45 1-1.27 1-2.09C10 5.22 8.98 4 8 4H4c-.98 0-2 1.22-2 2.5S3 9 4 9zm9-3h-1v1h1c1 0 2 1.22 2 2.5S13.98 12 13 12H9c-.98 0-2-1.22-2-2.5 0-.83.42-1.64 1-2.09V6.25c-1.09.53-2 1.84-2 3.25C6 11.31 7.55 13 9 13h4c1.45 0 3-1.69 3-3.5S14.5 6 13 6z\"></path></svg></a>Abstract</h1>\n<p>Below is a description of the parameter changes proopsed in the SCCP:</p>\n<ul>\n<li><code>skewScale</code> is the scaling factor of the relevant market in the underlying currency for computing PD and Funding Rates.</li>\n<li><code>maker/taker</code> refer to the fees charged for opening a position that reduces / increase the skew with the help of the pyth offchain oracle.</li>\n</ul>\n<h1 id=\"motivation\" style=\"position:relative;\"><a href=\"#motivation\" aria-label=\"motivation permalink\" class=\"anchor before\"><svg aria-hidden=\"true\" focusable=\"false\" height=\"16\" version=\"1.1\" viewBox=\"0 0 16 16\" width=\"16\"><path fill-rule=\"evenodd\" d=\"M4 9h1v1H4c-1.5 0-3-1.69-3-3.5S2.55 3 4 3h4c1.45 0 3 1.69 3 3.5 0 1.41-.91 2.72-2 3.25V8.59c.58-.45 1-1.27 1-2.09C10 5.22 8.98 4 8 4H4c-.98 0-2 1.22-2 2.5S3 9 4 9zm9-3h-1v1h1c1 0 2 1.22 2 2.5S13.98 12 13 12H9c-.98 0-2-1.22-2-2.5 0-.83.42-1.64 1-2.09V6.25c-1.09.53-2 1.84-2 3.25C6 11.31 7.55 13 9 13h4c1.45 0 3-1.69 3-3.5S14.5 6 13 6z\"></path></svg></a>Motivation</h1>\n<p>The proposed parameter changes on skew scale aim at increasing the incentive on arbitrageurs to arbitrage the skew by targeting an effective liquidity comfortably below liquidity available on centralized exchanges. While the motivation behind the changes on the maker/taker fees related to the stETH/ETH market, is matching curve fees and lean against narrow short-term peg volatility.</p>\n<h1 id=\"copyright\" style=\"position:relative;\"><a href=\"#copyright\" aria-label=\"copyright permalink\" class=\"anchor before\"><svg aria-hidden=\"true\" focusable=\"false\" height=\"16\" version=\"1.1\" viewBox=\"0 0 16 16\" width=\"16\"><path fill-rule=\"evenodd\" d=\"M4 9h1v1H4c-1.5 0-3-1.69-3-3.5S2.55 3 4 3h4c1.45 0 3 1.69 3 3.5 0 1.41-.91 2.72-2 3.25V8.59c.58-.45 1-1.27 1-2.09C10 5.22 8.98 4 8 4H4c-.98 0-2 1.22-2 2.5S3 9 4 9zm9-3h-1v1h1c1 0 2 1.22 2 2.5S13.98 12 13 12H9c-.98 0-2-1.22-2-2.5 0-.83.42-1.64 1-2.09V6.25c-1.09.53-2 1.84-2 3.25C6 11.31 7.55 13 9 13h4c1.45 0 3-1.69 3-3.5S14.5 6 13 6z\"></path></svg></a>Copyright</h1>\n<p>Copyright and related rights waived via <a href=\"https://creativecommons.org/publicdomain/zero/1.0/\">CC0</a>.</p>"}},"pageContext":{"id":"689aa512-7ee3-521c-b31a-d15b984b53a2","frontmatter__sccp":2069,"__params":{"frontmatter__sccp":"2069"}}},"staticQueryHashes":[]}