SIP-375: List BOME-PERP and ETHFI-PERP on Perps v3 on Base
| Author | |
|---|---|
| Status | Approved |
| Type | Governance |
| Network | Base |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2024-04-07 |
Simple Summary
List BOME-PERP and ETHFI-PERP on Perps v3 on the Base network.
Abstract
List BOME-PERP andETHFI-PERP markets on Perps v3 on the Base network, expanding the range of v3 markets to include two additional markets which have captured recent attention and interest in the crypto ecosystem.
Motivation
Following the listing and early success of WIF-PERP - currently the highest volume asset on Perps v3 on Base, above BTC-PERP and ETH-PERP - we should strive to add markets for assets which have captured crypto ecosystem interest as quickly as possible.
BOME is a Solana memecoin which launched March 14 and became tradeable on Binance on March 16. It immediately surged to 1.5B market cap and is currently sitting at just under $1B. As of April 6, it has $365M of 24H volume and $83M OI on Binance perps.
ETHFI is the governance token for Ether.Fi, a non-custodial liquid restaking protocol on Ethereum. The token launched on March 18 and was immediately tradeable on various centralized exchanges. As of April 6, it has $260M of 24H volume and $50M OI on Binance perps.
Specification
Rationale
Both markets are currently in the top 20 highest volume perps markets on Binance and have extremely deep liquidity on both centralized and decentralized exchanges. Both are noticeably absent from competing decentralized perps exchanges. Listing these markets furthers the goal of making Perps v3 the best place to trade the assets that users want to trade, when they want to trade them.
Technical Specification
- Requires a Pyth oracle on Base for each market.
Test Cases
- n/a
Configurable Values
- To be set via SCCP for each market.
Copyright
Copyright and related rights waived via CC0.