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

Abstract

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

Motivation

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.

Copyright

Copyright and related rights waived via CC0.