| sccp | network | title | author | status | proposal | created | type |
|---|---|---|---|---|---|---|---|
2046 |
Optimism |
Update Max Market Value - GMX / LDO |
Kaleb (@kaleb-keny) |
Implemented |
2023-09-23 |
Governance |
This SCCP proposes to double the max market value of GMX and LDO:
| Market | Current | Proposed | Proposed $ | CEX OI |
|---|---|---|---|---|
| LDO | 200,000 | 400,000 | 592,671 | 12,000,000 |
| GMX | 7,000 | 14,000 | 484,400 | 200,000 |
maxMarketValue is the max open interest on one either side of the market denominated underlying currency of that market.
The main motivation is to cater for the increase in open interest and appease the high utilization (> 90%) on those markets.
Copyright and related rights waived via CC0.