SCCP-328: Update Perps V3 Parameters

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Simple Summary

This SCCP proposes to update the perps v2 parameters as per the below:

Max Market Value and Max Market Size

ticker Current MMV Proposed MMV Current MMS Proposed MMS
link 1,000,000 UNCHANGED 60,000 100,000
bonk 500,000 1,000,000 45,000,000,000 55,000,000,000
ena 500,000 1,000,000 676,000 1,500,000
op 500,000 1,000,000 300,000 500,000
w 500,000 UNCHANGED 508,000 1,400,000
bome 500,000 UNCHANGED 20,000,000 80,000,000
gala 250,000 UNCHANGED 5,000,000 20,000,000
ton 250,000 UNCHANGED 40,000 200,000
tao 250,000 UNCHANGED 500 2,000
tia 250,000 UNCHANGED 20,000 100,000
sui 250,000 UNCHANGED 180,000 400,000
stx 250,000 UNCHANGED 80,000 200,000
pendle 250,000 UNCHANGED 35,000 100,000

Initial Margin Ratio

Ticker Current IMR Proposed IMR
W 15.39 3.87
SOL 24.39 4.90
BTC 13.35 1.54
ETH 8.92 1.16


The parameters configurations description is as follows:

  • initialMarginRatio is a scalar applied on the minimumInitialMarginRatio to determine the minimum initial margin required to support a given portfolio of positions. A lower minimum initial margin ratio allows for more leverage.
  • maxMarketSize is the max market value of the relevant market in the underlying currency
  • maxMarketValue is the max market value of the relevant market in USD


The motivation behind the changes to the scalar applied on the initial margin is to align the potential leverage base we offer when compared to that obtained on centralized exchanges. While the update of max market value and max market size is done taking into current and expected rising amounts of liquidity provided as well as the open interest utilization on those markets.


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