SCCP-2034: Update Perp Parameters
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2023-08-07 |
Simple Summary
This SCCP proposes to perform the following updates to perp markets:
Skew Scale
| Market | Current | Proposed | Change |
|---|---|---|---|
| OP | 30,000,000 | 60,000,000 | + 30,000,000 |
| AAVE | 300,000 | 600,000 | + 300,000 |
| APE | 15,000,000 | 30,000,000 | + 15,000,000 |
| DYDX | 15,000,000 | 30,000,000 | + 15,000,000 |
| CRV | 50,000,000 | 100,000,000 | + 50,000,000 |
Max Market Value
| Market | Current | Proposed | Change | Change in $ |
|---|---|---|---|---|
| AAVE | 10,000 | 20,000 | + 10,000 | + 652,000 |
| ETH | 27,000 | 31,000 | + 4,000 | + 7,316,000 |
| BTC | 2,000 | 1,750 | - 250 | - 7,250,000 |
| MKR | 750 | 1,500 | + 750 | + 887,000 |
Abstract
The parameters configurations description is as follows:
- Max market value is the maximum open interest on longs or shorts for a given market denominated in the underlying currency
- Skew scale is the scaling factor of the relevant market in the underlying currency for computing PD and Funding Rates
Motivation
The main motivation behind the change in skew scale is the significant improvement in liquidity. While the changes proposed on max market value is to increase the open interest capacity in markets with high utilization.
Copyright
Copyright and related rights waived via CC0.