[Feature]: ELS for spots

[ze97286]

Feature Overview

As the LP now has a different commitment amount on each side of the book, the following considerations must be made:

• Physical Stake:
  • An LPs physical_stake should be treated separately for each side of the book - call these the buy_physical_stake and the sell_physical_stake.
  • The current physical_stake for market stake calculations is the smaller of the two values, where the sell_physical_stake is converted into the quote_asset at the current mark_price.
• Virtual Stake:
  • An LPs virtual_stake should be treated separately for each side of the book - call these the buy_virtual_stake and sell_virtual_stake.
  • The same growth factor - as specified in the LIQF spec - derived from the total value for fee purposes in the quote asset is used to update both buy/sell virtual stakes (still in their respective assets).
  • The current virtual_stake for fee splitting is the smaller of the two values where the sell_virtual_stake is converted to quote_asset at the current mark_price.

From the above conditions, an LP is incentivised to provide a roughly equal value of liquidity on each side of the book at comparable levels of competitiveness in order to maximise their share of the liquidity fees.

Specs

• 0080-SPOT-product_builtin_spot.md#submissions