SCCP-258: Update Debt-PERP Market Parameters
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2022-12-05 |
Simple Summary
This SCCP proposes to update the DEBT-PERP market max open interest as per the below:
| CurrencyKey | Proposed OI | Current OI |
|---|---|---|
| DebtRatio | 6000 | 0 |
Abstract
Raise the open interest cap for the DEBT-PERP market to $6000 to allow traders to close short positions. With the current OI cap of $0 these traders are prevented from closing by a smart contract bug.
Motivation
A recently discovered bug in the futures market smart contracts prevents traders with open short positions to use the closePosition or closePositionWithTracking functions when the OI is above the open interest caps. The same bug does not affect open long positions. Kwenta implemented a workaround to open a small long position using modifyPosition then call closePosition. The current OI cap of $0 prevents opening those small long position. Raising the cap to a value above the current long open interest would enable Kwenta to implement this workaround, and allow users to exit their positions.
Copyright
Copyright and related rights waived via CC0.