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Create sccp 2048 #1706

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Sep 29, 2023
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Create sccp 2048 #1706

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Create sccp-2048.md
kaleb-keny Sep 29, 2023
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update header
kaleb-keny Sep 29, 2023
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Update sccp-2048.md
kaleb-keny Sep 29, 2023
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4 changes: 3 additions & 1 deletion content/sccp/sccp-2047.md
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Expand Up @@ -3,7 +3,9 @@ sccp: 2047
network: Ethereum
title: Update 1inch Integration - Fusion Address
author: Kaleb (@kaleb-keny)
status: Vote_Pending
status: Implemented
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0xefd2e23f7005fe154d9b7310b43eec23802ea2bd8aa3b34439c6479f5bb14906
type: Governance
---

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34 changes: 34 additions & 0 deletions content/sccp/sccp-2048.md
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---
sccp: 2048
network: Optimism
title: Update Max Market Value
author: Kaleb (@kaleb-keny)
status: Vote_Pending
created: 2023-09-23
type: Governance
---

# Simple Summary

This SCCP proposes to increase the max market value on the below:

| **Market** | **Current** | **Proposed** | **Proposed $** | **Change in $** | **Utilization** |
|:----------:|:-----------:|:------------:|:--------------:|:---------------:|:---------------:|
| MKR | 1,500 | 2,000 | 3,005,340 | +751,335 | 50% |
| FXS | 40,000 | 80,000 | 485,137 | +242,568 | 50% |
| GMX | 14,000 | 21,000 | 804,780 | +268,260 | 80% |
| SOL | 220,000 | 300,000 | 6,089,820 | +1,623,952 | 65% |

# Abstract

`maxMarketValue` is the max open interest on one either side of the market denominated underlying currency of that market.

# Motivation

The main motivation is to cater for the increase in open interest and appease the high utilization on those markets.

# Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).


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