SCCP-291: Increase Max `exchangeMaxDynamicFee`
| Author | Kaleb |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2023-03-30 |
Simple Summary
This SCCP proposes to increase the exchangeMaxDynamicFee to 10% from 1.5%.
Abstract
- The
exchangeMaxDynamicFeeis the maximum fee that could be paid, after taking into consideration dynamic fees.
Motivation
The exchangeMaxDynamicFee was initially lowered to 1.5% in order to avoid situation of charging too high of a fee on the futures v1 markets. However with dynamic fees long deprecated, with the help of the direct integration manager, the exchangeMaxDynamicFee can be increased without impacting the perps v2 & lyra vaults trading experience experience.
It is necessary to raise the exchangeMaxDynamicFee as some volatile perps v2 markets, will throw a rate too volatile error when trying to fetch a position from perp contracts, while in reality, this fee is overridden by the DirectIntegrationManager upon initiation and execution of a given trade.
Copyright
Copyright and related rights waived via CC0.