sccp | network | title | author | status | proposal | created | type |
---|---|---|---|---|---|---|---|
2092 |
Optimism |
Update Perps V2 Parameters |
Kaleb (@kaleb-keny) |
Implemented |
2024-03-11 |
Governance |
This SCCP proposes to update the perps v2 parameters as per the below:
Market | Current Scale | Proposed Scale | Current Slippage | Proposed Slippage | Cex Slippage |
---|---|---|---|---|---|
PYTH | 28,875,000 | 14,437,500 | 10 | 20 | 7 |
ALGO | 103,875,000 | 51,937,500 | 8 | 16 | 7 |
BCH | 168,750 | 84,375 | 13 | 26 | 11 |
Market | Current MV | Proposed MV | Proposed MV$ | CexOI |
---|---|---|---|---|
PEPE | 850 billion | 275 billion | 2.5 million | 32,000 billion |
SHIB | 212 billion | 72 billion | 2.5 million | 4,700 billion |
RUNE | 614,800 | 350,000 | 3 million | 5 million |
MKR | 2,000 | 1,250 | 3 million | 20,000 |
Below is a description of the parameter changes proposed in the SCCP:
MaxMarketValue
is the maximum possible open interest on any given side of a perp market.skewScale
is the scaling factor of the relevant market in the underlying currency for computing PD and Funding Rates.
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 max market value levels are done in order to align the oi caps with historical utilization.
Copyright and related rights waived via CC0.