{"componentChunkName":"component---src-pages-sccp-sccp-markdown-remark-frontmatter-sccp-tsx","path":"/sccp/sccp-2154/","result":{"data":{"markdownRemark":{"fileAbsolutePath":"/vercel/path0/content/sccp/sccp-2154.md","frontmatter":{"sip":null,"sccp":2154,"title":"Update V2x Perp Parameters","network":"Optimism","author":"Kaleb (@kaleb-keny)","type":"Governance","proposal":"https://snapshot.org/#/snxgov.eth/proposal/0xcf50014273b482271587d50f4718803ae54c31a6d6dce2b4272f6da4bd029fff","implementor":null,"release":null,"created":"2025-01-20T00:00:00.000Z","updated":null,"status":"Implemented"},"html":"

Simple Summary

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This SCCP proposes update the parameters of v2x Markets as per the below:

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MaxMarketValue

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
currencyCurrent $MProposed $MCex $MProposed in Market Currency
BTC138.91758,848756
STETH4.94000.00
SOL130.37751,382385,449
DOGE18.331073227,000
BNB141038514,000
XRP8.58109433,500,000
USDT5555,000,000
PEPE9.035236270,000,000,000
ADA7.8752274,750,000
SUI5.752941,000,000
LINK5.135145230,000
LTC3.35512257,000
TRX2.2936513,000,000
AVAX7.27314075,000
XLM2.1358310,000,000
SHIB1.58374130,000,000,000
WLD0.7731191,500,000
ARB2.085686,500,000
BONK3.38545180,000,000,000
ORDI0.52554200,000
CRV1.683603,300,000
OP2.713451,600,000
SEI0.583487,600,000
INJ1.77342130,000
UNI1.37398220,000
RUNE1.17326900,000
DYDX0.423322,300,000
TIA1.01366600,000
PYTH0.661.5155,000,000
MKR1.763422,130
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Funding Rates

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Increase maxFundingRateVelocity on ETH and BTC back to 9 from 4

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Fees

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Raise SOL, PEPE and DOGE Maker fees to 2 bp from 0.01 bp

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Skew Scale

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
currencyCurrentProposedCex SlippageProposed Slippage
XRP187,500,00058,593,750416
LTC1,687,500590,6301040
LINK7,500,0003,000,0001040
BNB637,500318,750312
ADA150,000,00075,000,000832
SUI25,300,00014,758,330936
SOL2,800,0001,750,00028
SUSHI7,875,0005,088,07077308
XLM166,500,000111,000,0001248
ETC2,250,0001,511,7201664
EOS48,000,00034,363,6402288
ARB34,000,00051,000,0001664
FIL6,375,0009,562,5001248
INJ712,5001,125,75025100
ORDI750,0001,273,0301976
DYDX9,000,00015,387,10031124
ICP1,000,0001,713,24034136
WLD9,750,00019,662,5001560
SEI35,500,00072,210,2302288
TIA1,500,0003,820,31032128
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Abstract

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The parameter descriptions are as follows:

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Motivation

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The main motivation is to be better align outstanding markets offered on synthetix with the data available available on centralized exchanges.

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Copyright

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Copyright and related rights waived via CC0.

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