{"componentChunkName":"component---src-pages-sips-sip-markdown-remark-frontmatter-sip-tsx","path":"/sips/sip-217/","result":{"data":{"markdownRemark":{"fileAbsolutePath":"/vercel/path0/content/sips/sip-217.md","frontmatter":{"sip":217,"sccp":null,"title":"Additional perpetual futures markets","network":"Optimism","author":"Arthur (@artdgn)","type":"Governance","proposal":"https://snapshot.org/#/snxgov.eth/proposal/Qme5DPKRutr9NPVk1yUsdSt3uRJp5ifjnkDr51y69zUwQM","implementor":"Arthur (@artdgn)","release":"Nunki","created":"2022-03-22T00:00:00.000Z","updated":null,"status":"Implemented"},"html":"<h2 id=\"summary\" style=\"position:relative;\"><a href=\"#summary\" aria-label=\"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>Summary</h2>\n<p>Second stage of futures markets rollout: add markets for SOL, AVAX, MATIC, AAVE, UNI, EUR, GOLD, SILVER.</p>\n<h2 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</h2>\n<p>The initial futures markets rollout (SIP-80) was done with BTC, ETH, LINK to reduce the complexity and potential for error. To satisfy the minimal useful product offering additional markets should be added.</p>\n<h2 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</h2>\n<p>There are multiple reasons for adding more markets as soon as possible:</p>\n<ul>\n<li>Make the product offering more useful for traders and integrations. E.g. this will already allow constructing simple pair trades (e.g. ETH/SOL, BTC/GOLD), simple basket / index trades.</li>\n<li>Allow experimenting with different market settings (e.g. funding rate, leverage) in order to address issues and find optimal configurations sooner.</li>\n<li>Allow establishing pausing/resuming automation for rolling out more TradFi markets.</li>\n<li>Establish a larger amount of markets so that UIs and tooling will be built with the right assumptions and features.</li>\n</ul>\n<p>The additional markets to be added are chosen from:</p>\n<ul>\n<li>Already supported Synths: SOL, AVAX, MATIC, AAVE, UNI, EUR.</li>\n<li>Commodities markets with Chainlink OCR feeds on optimism: GOLD, SILVER.</li>\n</ul>\n<p>Release will be done when all required feeds are available and checked for latency issues.</p>\n<h2 id=\"specification\" style=\"position:relative;\"><a href=\"#specification\" aria-label=\"specification 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>Specification</h2>\n<p>If pausing / resuming automation isn't ready in time for mainnet release GOLD and SILVER markets will be deployed but immediately paused until automation is reliable on the testnet deployment.</p>\n<p>With these markerFee / takerFee:</p>\n<ul>\n<li>SOL, AVAX, AAVE, UNI: 40 / 50 (to be adjusted in SCCPs down gradually)</li>\n<li>MATIC: 25 / 30</li>\n<li>EUR, GOLD, SILVER: 20 / 25</li>\n</ul>\n<p>And the rest of the initial market parameters (same as current LINK market for all new markets):</p>\n<pre><code>..\n\"takerFeeNextPrice\": \"0.001\",\n\"makerFeeNextPrice\": \"0.0\",\n\"nextPriceConfirmWindow\": \"2\",\n\"maxLeverage\": \"10\",\n\"maxMarketValueUSD\": \"2000000\",\n\"maxFundingRate\": \"0.1\",\n\"skewScaleUSD\": \"300000000\"\n</code></pre>\n<h2 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</h2>\n<p>Copyright and related rights waived via <a href=\"https://creativecommons.org/publicdomain/zero/1.0/\">CC0</a>.</p>"}},"pageContext":{"id":"2f7242ab-55f2-5254-acf7-b72458e413bb","frontmatter__sip":217,"__params":{"frontmatter__sip":"217"}}},"staticQueryHashes":[]}