SCCP-2034: Update Perp Parameters

Author
StatusImplemented
TypeGovernance
NetworkOptimism
ImplementorTBD
ReleaseTBD
ProposalLoading status...
Created2023-08-07

Simple Summary

This SCCP proposes to perform the following updates to perp markets:

Skew Scale

Market Current Proposed Change
OP 30,000,000 60,000,000 + 30,000,000
AAVE 300,000 600,000 + 300,000
APE 15,000,000 30,000,000 + 15,000,000
DYDX 15,000,000 30,000,000 + 15,000,000
CRV 50,000,000 100,000,000 + 50,000,000

Max Market Value

Market Current Proposed Change Change in $
AAVE 10,000 20,000 + 10,000 + 652,000
ETH 27,000 31,000 + 4,000 + 7,316,000
BTC 2,000 1,750 - 250 - 7,250,000
MKR 750 1,500 + 750 + 887,000

Abstract

The parameters configurations description is as follows:

  • Max market value is the maximum open interest on longs or shorts for a given market denominated in the underlying currency
  • Skew scale is the scaling factor of the relevant market in the underlying currency for computing PD and Funding Rates

Motivation

The main motivation behind the change in skew scale is the significant improvement in liquidity. While the changes proposed on max market value is to increase the open interest capacity in markets with high utilization.

Copyright

Copyright and related rights waived via CC0.