SIP-370: List STX on Synthetix Perps
| Author | |
|---|---|
| Status | Approved |
| Type | Governance |
| Network | Base |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2024-02-26 |
Simple Summary
List STX on Synthetix Perps.
Abstract
This is a proposal to List STX Futures/Perpetuals on Synthetix Perps.
Motivation
STX is the native token of Stacks, the leading Bitcoin L2. STX is currently the 37th largest coin in terms of Market cap and is already integrated into the most important CEXs. STX can attract new traders who seek exposure or hedge their portfolios through Bitcoin-related assets.
Specification
Binance Perp STX/USDT Volume from Coingecko at 2024-02-26: 73,678,232
STX DEX/CEX Spot Data From CoinGecko at 2024-02-26:
| Exchange | Pair | Price | Spread | 24h Volume |
|---|---|---|---|---|
| Binance | STX/USDT | $2.49 | 0.01% | $20,618,749 |
| OKX | STX/USDT | $2.49 | 0.03% | $5,666,433 |
| Coinbase Exchange | STX/USD | $2.49 | 0.07% | $7,207,145 |
| KuCoin | STX/USDT | $2.49 | 0.04% | $2,684,529 |
| Gate.io | STX/USD | $2.49 | 0.02% | $3,243,373 |
| Bybit | STX/USDT | $2.49 | 0.04% | $3,526,653 |
| BitGet | STX/USDT | $2.49 | 0.02% | $1,210,412 |
You can find further data here: https://www.coingecko.com/en/coins/stacks
Rationale
To remain competitive, Synthetix should list a highly-traded cryptocurrency for traders like STX. Additionally, STX represents the token of the leading Bitcoin Layer 2.
Technical Specification
The market will be deployed with Chainlink and Pyth price feed.
Test Cases
N/A
Configurable Values (Via SCCP)
The configurable values follows other Perps V2 market and will be update on separate SCCP.
Copyright
Copyright and related rights waived via CC0.