SIP-2023: Add XMR to Perps V2

Simple Summary

Add Monero (XMR) as markets under Perps V2

Abstract

This is proposal to offer XMR futures which tracks the price of respective cryptocurrency.

Motivation

Adding XMR allows Synthetix to offers more assets for onboarding more traders. XMR is also was on Synthetix Futures which is the last market to be list from legacy futures.

Specification

Data was obtained on June 27 via Coingecko from following exchange: Binance, OKX, dYdX, Phermex, Kucoin and Huobi.

Exchange	Symbol	Open Interest	24h Volume
Binance (Futures)	XMRUSD_PERP	$39,783,330	$2,231,402.33
Binance (Futures)	XMRUSDT	$16,898,321	$60,932,267.71
Bybit (Futures)	XMRUSDT	$5,701,295	$4,333,113.81
KuCoin Futures	XMRUSDTM	$4,531,294	$1,455,083.15
OKX (Futures)	XMR-USDT-SWAP	$3,584,726	$9,998,619.23
dYdX Perpetual	XMR-USD	$825,488	$3,997,951.33
Phemex (Futures)	XMR-PERPUSDT	$499,837	$11,961,223.90
Huobi Futures	XMR-USDT	$96,058	$238,617.42

Rationale

• Monero was on Synthetix Futures
• Top 25 coin on Coingecko
• Non-etherum token that trader can't get exposure from on Optimism

Technical Specification

Implementation requires implementing off-chain oracle price feeds from Pyth Network and backup on-chain oracles from Chainlink.

Configurable values (read below) will be set in a subsequent SCCP for each market.

Test Cases

N/A

Configurable Values (Via SCCP)

All Perps V2 configurable values will be set in subsequent SCCPS for each market.

"makerFee": "",
"takerFee": "",
"takerFeeDelayedOrder": "",
"makerFeeDelayedOrder": "",
"takerFeeOffchainDelayedOrder": "",
"makerFeeOffchainDelayedOrder": "",
"maxLeverage": "",
"maxMarketValue": "",
"maxFundingVelocity": "",
"skewScale": "",

"nextPriceConfirmWindow": "",
"delayedOrderConfirmWindow": "",
"minDelayTimeDelta": "",
"maxDelayTimeDelta": "",
"offchainDelayedOrderMinAge": "",
"offchainDelayedOrderMaxAge": "",
"offchainPriceDivergence": "",

Copyright

Copyright and related rights waived via CC0.