From c08e863ae7366fa4d433a61cb12b270cf05f460f Mon Sep 17 00:00:00 2001 From: kaleb <62237347+kaleb-keny@users.noreply.github.com> Date: Fri, 6 Dec 2024 15:05:15 +0100 Subject: [PATCH] create sccp 372 / update 406 / sccp 2151 (#2165) * create sccp 372 * Update sccp-372.md * Update sip-406.md * Update sip-406.md * Update sip-406.md * Update sip-406.md * Update sip-406.md * update params * update parameters * Create sccp-2151.md * Update sccp-2151.md * Update sccp-2151.md --- content/sccp/sccp-2151.md | 31 ++++++++++++++++++++ content/sccp/sccp-372.md | 59 +++++++++++++++++++++++++++++++++++++++ content/sips/sip-406.md | 19 +++++++++---- 3 files changed, 103 insertions(+), 6 deletions(-) create mode 100644 content/sccp/sccp-2151.md create mode 100644 content/sccp/sccp-372.md diff --git a/content/sccp/sccp-2151.md b/content/sccp/sccp-2151.md new file mode 100644 index 000000000..9310f2f21 --- /dev/null +++ b/content/sccp/sccp-2151.md @@ -0,0 +1,31 @@ +--- +sccp: 2151 +network: Ethereum +title: Deploy sUSD in AAVE +author: Kaleb (@kaleb-keny) +status: Vote_Pending +created: 2024-12-05 +type: Governance +proposal: >- + https://snapshot.org/#/snxgov.eth/proposal/0xc975f275b03b975cfea4e8a5a6c39050d78423c08cca18cd77c87088ecc02b36 +--- + +# Simple Summary + +This SCCP proposes deposit in a special Treasury account 5m sUSD backed by the protocol. The funds would be used by Treasury to alleviate the sUSD borrow pressure on AAVE on optimism. Treasury would be required to burn the funds once usage of these funds had run it's course. + +# Abstract + +The proposal entails: +- Minting 5m sUSD +- Sending it to the [TC wallet address](https://etherscan.io/address/0x99f4176ee457afedffcb1839c7ab7a030a5e4a92) +- Treasury would be required to deposit the sUSD on AAVE on optimism +- Treasury would burn the sUSD along with any interest profit made on the deposit as the usage of these funds had run it's course + +# Motivation + +The main motivation is to alleviate the high demand for sUSD on aave optimism, with the apy hitting highs. + + +# Copyright +Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/). \ No newline at end of file diff --git a/content/sccp/sccp-372.md b/content/sccp/sccp-372.md new file mode 100644 index 000000000..66b81936e --- /dev/null +++ b/content/sccp/sccp-372.md @@ -0,0 +1,59 @@ +--- +sccp: 372 +title: Deploy More Markets to Perps V3 Base and Arbitrum +network: Arbitrum & Base +status: Vote_Pending +proposal: >- + https://snapshot.org/#/snxgov.eth/proposal/0x7dfe429b79f136243c3a9821508aee40fd4c708ff2ccd9faac6a3e70335b20c5 +type: Governance +created: 2024-12-04 +author: 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** | +|:----------:|:-----------------------------:|:----------------------:|:---------------------------:|:-------------:|:-----------------:|:------------------:| +| MORPHO | 5% | 1.36 | 0.317 | 2,000,000 | 1,000,000 | 1,000,000 | +| CHILLGUY | 5% | 1.36 | 0.317 | 8,000,000 | 6,000,000 | 2,000,000 | +| AERO | 5% | 0.322 | 0.317 | 500,000 | 1,000,000 | 300,000 | + + +Aside from the above parameters , the perps markets will have the following configurations as well: +- TakerFeeRatio: 10 bp +- 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/). diff --git a/content/sips/sip-406.md b/content/sips/sip-406.md index a1ec125d0..cfa86588a 100644 --- a/content/sips/sip-406.md +++ b/content/sips/sip-406.md @@ -1,29 +1,36 @@ --- sip: 406 title: FeatureFlag - Atomic Synth Trading & Wrappers -network: Arbitrum -status: Draft +network: Arbitrum & Base +status: Vote_Pending +proposal: >- + https://snapshot.org/#/snxgov.eth/proposal/0x6000da3b53be810fefd9bc19b8ab4f1a975d63ad68197a73636050a7246d3a72 type: Governance author: Kaleb (@kaleb-keny) --- ## Simple Summary -The sip proposes to put in place feature flag into the on `atomicOrderModule` and `WrapperModule` , essentially allowing the protocol to disable atomic trades, wraps and unwraps on specified synths. +The sip proposes to put in place a feature flag into the `asyncOrderModule`, `atomicOrderModule` and `WrapperModule` , essentially allowing the protocol to disable atomic trades, wraps and unwraps. ## Abstract -The current implementation of the spot market on v3 does not allow for disabling of atomic orders or wrapping/unwrapping of synths. This SIP would allow the protocol to enable/disable those functions. +The current implementation of the spot market on v3 does not allow for disabling of atomic orders or wrapping/unwrapping of synths. This SIP would allow the protocol to enable/disable those functions. In addition, a general purpose flag would be added that allows the owner to disable trading on the entire spot market. ## Motivation -The main motivation is to allow the protocol to disable synth trading and wrapping/unwrapping on specified synths. +The main motivation is to allow the protocol to have more fine tuned and general control over synth trading and wrapping. ## Specification -The specification would be incorporating the standard v3 feature flag [module](https://github.com/Synthetixio/synthetix-v3/blob/d8240a31967b518d95237ee939ba7222e6618454/utils/core-modules/contracts/modules/FeatureFlagModule.sol) into the [atomicOrderModule](https://github.com/Synthetixio/synthetix-v3/blob/d8240a31967b518d95237ee939ba7222e6618454/markets/spot-market/contracts/modules/AtomicOrderModule.sol) and the [wrapperModule](https://github.com/Synthetixio/synthetix-v3/blob/d8240a31967b518d95237ee939ba7222e6618454/markets/spot-market/contracts/modules/WrapperModule.sol). Whereby each `marketId` would be need to be have the trading / wrapping feature enabled on it, otherwise transactions involved synths that have not been enabled would revert. +The specification would be incorporating the standard v3 feature flag [module](https://github.com/Synthetixio/synthetix-v3/blob/d8240a31967b518d95237ee939ba7222e6618454/utils/core-modules/contracts/modules/FeatureFlagModule.sol) into the [atomicOrderModule](https://github.com/Synthetixio/synthetix-v3/blob/d8240a31967b518d95237ee939ba7222e6618454/markets/spot-market/contracts/modules/AtomicOrderModule.sol) and the [wrapperModule](https://github.com/Synthetixio/synthetix-v3/blob/d8240a31967b518d95237ee939ba7222e6618454/markets/spot-market/contracts/modules/WrapperModule.sol). Whereby each `marketId` would be need to be have the trading / wrapping feature enabled on it, otherwise transactions involved synths that have not been enabled would revert. In addition, a general purpose would be added to all the relevant spot market modules to allow the owner to curtail exchanges. + +The requirement spec is covered under [PR](https://github.com/Synthetixio/synthetix-v3/pull/2339), essentially it entails adding the following flags: +- `spotMarketEnabled` would enable the entire spot market for all synths, i.e. atomic, async and wrappers +- `atomicOrdersEnabled` would enable atomic orders on a specific synth, whereby the non-core USD need to be enabled for the atomic swap transaction to go through +- `wrapperEnabled` would enable wraps & unwraps on a specific synth, whereby the non-core USD need to be enabled for the wrap/unwrap transaction to go through ### Configurable Values (Via SCCP)