SIP-205: Add AVAX, MATIC and EUR To Optimism

Author
StatusImplemented
TypeGovernance
NetworkOptimism
ImplementorMark E. Barrasso (@barrasso)
ReleaseAlgieba
ProposalLoading status...
Created2022-01-31

Simple Summary

Add AVAX, MATIC and EUR Synths on Optimism for trading and shorting.

Overview

This SIP will add individual Synths for AVAX, MATIC, and EUR tokens on Optimism.

This SIP will also make AVAX, MATIC, and EUR shortable on Optimism.

Motivation

Listing these additional synths on OE will benefit traders on Synthetix and within the ecosystem as a whole. By listing synths that we’ve never had before, we have the opportunity to attract new traders and to increase the trading volume of the overall Synthetix ecosystem.

Rationale

Synths tracking AVAX, MATIC, and EUR were chosen after consultation with Synthetix ecosystem partners and the community.

AVAX +2% Depth -2% Depth Volume
Binance $1,937,453 $2,570,164 $147,933,128
Bitfinex $1,236,204 $2,117,038 $8,072,307
Kraken $358,334 $607,909 $3,598,883
Coinbase $2,235,017 $2,891,156 $79,619,203
Total $5,767,008 $8,186,267 $239,223,521
MATIC +2% Depth -2% Depth Volume
Binance $2,669,179 $3,010,869 $159,546,651
Bitfinex $858,047 $1,139,604 $1,737,331
Kraken $1,127,590 $1,266,423 $8,320,294
FTX $320,940 $322,993 $16,913,151
Coinbase $2,209,438 $3,242,293 $82,780,276
Total $7,185,194 $8,982,182 $269,297,703

Specification

These Synths (AVAX, MATIC, and EUR) will be implemented using Chainlink OCR aggregators Optimism.

AVAX, MATIC, and EUR will be made shortable via the CollateralShort contract by calling CollateralManager.addShortableSynths.

Copyright and related rights waived via CC0.