SCCP-312: Increase Base ETH and BTC OI limits to $20m
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Base |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2024-03-18 |
Simple Summary
Increase the maximum market size for ETH and BTC perp markets $10m USDC each (applies separately to longs and shorts on each market).
Abstract
Increase maximum Open Interest (OI) caps on both ETH and BTC from $1m to $10m long and short, by setting
-
perpsFactory.PerpsMarketProxy.setMaxMarketSize(uint128 marketId,uint256 maxMarketSize) = [100, 2777000000000000000000]# 2777 ETH -
perpsFactory.PerpsMarketProxy.setMaxMarketSize(uint128 marketId,uint256 maxMarketSize) = [200, 149000000000000000000]# 149 BTC
MaxMarketSize is denominated in native units and applies separately to both long and short sides, so if both sides of ETH and BTC markets are full, the total OI is approx $40m.
Motivation
Base Andromeda has been operating in since early December using the configuration from SIP-348 and is ready to be slowly scaled up. The LP limit has been increased to $10m by SCCP-311, and once at least 50% full, open interest caps can be increased accordingly.
Copyright
Copyright and related rights waived via CC0.