Create sccp-361.md (#2126)

* Create sccp-361.md * Update sccp-361.md * Update sccp-361.md --------- Co-authored-by: kaleb <[email protected]>
Synthetixio · Oct 29, 2024 · 2d6a258 · 2d6a258
1 parent aca4145
commit 2d6a258
Showing 1 changed file with 57 additions and 0 deletions.
diff --git a/content/sccp/sccp-361.md b/content/sccp/sccp-361.md
@@ -0,0 +1,57 @@
+---
+sccp: 361
+title: Deploy More Markets to Perps V3 Base and Arbitrum
+network: Arbitrum & Base
+status: Draft
+type: Governance
+created: 2024-10-28
+author: Robin (@robin2192), Kaleb
+---
+
+# Simple Summary
+
+This SCCP proposes to deploy the below markets on Perps V3 on Base and Arbitrum.
+
+| **Market** | **minimumInitialMarginRatio** | **initialMarginRatio** | **maintenanceMarginScalar** | **skewScale** | **maxMarketSize** | **maxMarketValue** |
+|:----------:|:-----------------------------:|:----------------------:|:---------------------------:|:-------------:|:-----------------:|:------------------:|
+|    GOAT    |               5%              |          2.459         |            0.317            |      20M      |     5,000,000     |      3,000,000     |
+|   MOODENG  |               5%              |          1.588         |            0.317            |      50M      |     17,000,000    |      3,000,000     |
+|    SAFE    |               5%              |          1.211         |            0.317            |       3M      |      500,000      |       500,000      |
+|     CAT    |               5%              |          1.575         |            0.328            |      250B     |   35,000,000,000  |      1,000,000     |
+
+Aside from the above parameters , the perps markets will have the following configurations as well:
+- TakerFeeRatio: 10 bp (5 bp during the promotional period)
+- MakerFeeRatio: 0 bp
+- maxFundingVelocity: 9
+- flagRewardRatio: 3 bp
+- minimumPositionMargin: 50
+- lockedOiRatio: 0.5 
+- maxLiquidationLimitMultiplier: 1.5
+- maxLiquidationPD: 5 bp
+- endorsedLiquidator: "0x11233749514Ab8d00C0A5873DF7428b3db70030f"
+
+
+# Abstract
+
+The parameters configurations description is as follows:
+- initialMarginRatio is a scalar applied on the minimumInitialMarginRatio to determine the minimum initial margin required to support a given portfolio of positions
+- maintenanceMarginScalar is a scalar applied on the initialMargin in order to obtain the maintenanceMargin. When traders fall below the maintenance margin, they are liquidated.
+- skewScale is the scaling factor of the relevant market in the underlying currency for computing price impact and funding rates
+- maxMarketSize is the max market value of the relevant market in the underlying currency
+- maxMarketValue is the max market value of the relevant market in USD
+- maker/taker fees pertain to fees charged when trading
+- maxFundingVelocity is the main parameter that allows to nudge funding rates
+- minimumPositionMargin is the minimum margin required
+- lockedOiRatio is the multiplier that determines the minimum amount of perp collateral required to back a given perp market
+- maxLiquidationLimitMultiplier is a parameter that rate limits liquidations. It is applied on the sum of maker and taker fees with a liquidation rate limit being triggered if pd exceeds that value
+- maxLiquidationPD is the minimum pd that triggers a reset of the liquidation capacity
+- endorsedLiquidator is a liquidator address that can bypass the rate limit
+- the collateral liquidation penalty is the penalty paid to the liquidator for executing a liquidation
+
+
+# Motivation
+
+The more options traders have via Synthetix Perps, the less likely they will move their margin to other trading venues to trade markets we don't provide. 
+
+# Copyright
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).