{"componentChunkName":"component---src-pages-sccp-sccp-markdown-remark-frontmatter-sccp-tsx","path":"/sccp/sccp-293/","result":{"data":{"markdownRemark":{"fileAbsolutePath":"/vercel/path0/content/sccp/sccp-293.md","frontmatter":{"sip":null,"sccp":293,"title":"Update Perp Parameters","network":"Optimism","author":"Kaleb (@kaleb-keny), Fifa (@aband1)","type":"Governance","proposal":"https://snapshot.org/#/snxgov.eth/proposal/0x207b502fc7e38cdc9276e29d72d592d4cff121eae74fe238d517c60041cab4f1","implementor":null,"release":null,"created":"2023-04-11T00:00:00.000Z","updated":null,"status":"Implemented"},"html":"

Simple Summary

\n

This SCCP proposes to update the perp-v2 parameters as per the below configurations:

\n

Offchain Maker & Taker Fees:

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ExistingProposedChange
sETH5/102/6-3/-4
sBTC5/102/6-3/-4
sBNB8/122/8-6/-4
sLINK8/122/8-6/-4
sSOL8/122/8-6/-4
sMATIC8/122/8-6/-4
sDOGE10/152/8-8/-7
sFTM10/152/10-8/-5
sATOM8/122/10-6/-2
sAVAX8/122/10-6/-2
sARB4/122/10-2/-2
sOP10/152/10-8/-5
sAPE8/122/10-6/-2
sNEAR10/152/10-8/-5
sAXS10/152/10-8/-5
sUNI8/122/10-6/-2
sDYDX10/152/10-8/-5
sAAVE8/122/10-6/-2
sFLOW8/122/10-6/-2
\n

Max Market Value

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ExistingProposedChange
sETH10,00020,000+10,000
sBTC1,0002,000+1,000
sBNB7,50020,000+12,500
sLINK200,000600,000+400,000
sSOL100,000170,000+70,000
sMATIC1,250,0004,000,000+2,750,000
sDOGE5,000,00070,000,000+65,000,000
sFTM1,500,0003,000,000+1,500,000
sATOM75,000100,000+25,000
sARB1,500,0003,000,000+1,500,000
sOP300,000700,000+400,000
sAPE150,000400,000+250,000
sNEAR250,0001,000,000+750,000
sAXS50,000100,000+50,000
sUNI40,000100,000+60,000
sDYDX100,000800,000+700,000
sAAVE3,0005,000+2,000
sFLOW50,000100,000+50,000
\n

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
ExistingProposedChange
sDOGE500,000,0002,500,000,0002,000,000,000.00
sARB150,000,00075,000,000-75,000,000
\n

Liquidation Buffer Ratio

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ExistingProposedChange
sETH10075-25
sBTC10075-25
sFTM100125+25
sATOM100125+25
sAVAX100125+25
sARB100125+25
sOP100125+25
sAPE100125+25
sNEAR100125+25
sAXS100125+25
sUNI100125+25
sDYDX100125+25
sAAVE100125+25
sFLOW100125+25
sAUD10030-70
sGBP10030-70
sXAU10030-70
sXAG10030-70
sEUR10030-70
\n

Liquidation Premium Multiplier

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ExistingProposedChange
sETH12+1
sBTC13+2
sBNB13+2
sLINK13+2
sSOL13+2
sMATIC13+2
sDOGE13+2
sFTM13+2
sATOM13+2
sAVAX13+2
sARB13+2
sOP13+2
sAPE13+2
sNEAR13+2
sAXS13+2
sUNI13+2
sDYDX13+2
sAAVE13+2
sFLOW13+2
\n

Max Leverage

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ExistingProposedChange
sETH10050-50
sBTC10050-50
sBNB10025-75
sLINK10025-75
sSOL10025-75
sMATIC10025-75
sDOGE10025-75
sFTM10025-75
sATOM10025-75
sAVAX10025-75
sARB10025-75
sOP10025-75
sAPE10025-75
sNEAR10025-75
sAXS10025-75
sUNI10025-75
sDYDX10025-75
sAAVE10025-75
sFLOW10025-75
\n

Max Funding Velocity

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ExistingProposedChange
sBNB39+6
sLINK39+6
sSOL39+6
sMATIC39+6
sDOGE39+6
sFTM39+6
sATOM39+6
sAVAX39+6
sOP39+6
sAPE39+6
sNEAR39+6
sAXS39+6
sUNI39+6
sDYDX39+6
sAAVE39+6
sFLOW39+6
sAUD31-2
sGBP31-2
sXAU31-2
sXAG31-2
sEUR31-2
\n

Max Premium Discount` & Max Liquidation Delta

\n\n

Abstract

\n

Below is a description on the parameters being updated:

\n\n

Motivation

\n

The primary motivation behind these parameter changes:

\n\n

Configuration Details

\n

Please note the below important specifications on the timing of the parameter updates:

\n\n

To illustrate, with an example assuming the prevailing buffer is 100 bp and the target is 125 bp, buffer could be changed as follows

\n

a) 100 bp to 110 bp in the first week

\n

b) 110 bp to 121 bp in the second week

\n

c) 111 to 122 bp in the third week

\n

d) 122 bp to 125 bp in the fourth week

\n\n

Copyright

\n

Copyright and related rights waived via CC0.

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