From 4e13322429f8a74ed98ebd6a0c7f4c2dea83423a Mon Sep 17 00:00:00 2001 From: 0xrobin2192 Date: Mon, 28 Oct 2024 11:19:51 -0700 Subject: [PATCH 1/3] Create sccp-361.md --- content/sccp/sccp-361.md | 66 ++++++++++++++++++++++++++++++++++++++++ 1 file changed, 66 insertions(+) create mode 100644 content/sccp/sccp-361.md diff --git a/content/sccp/sccp-361.md b/content/sccp/sccp-361.md new file mode 100644 index 000000000..49da7ec44 --- /dev/null +++ b/content/sccp/sccp-361.md @@ -0,0 +1,66 @@ +--- +sccp: 361 +title: Deploy GOAT and MOODENG 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. + +## Base Markets: + +| **Market** | **minimumInitialMarginRatio** | **InitialMarginRatio** | **maintenanceMarginScalar** | **skewScale** | **maxMarketSize** | **maxMarketValue** | +|:----------:|:-----------------------------:|:----------------------:|:---------------------------:|:-------------------:|:-----------------:|:------------------:| +| GOAT | | | | | | | +| MOODENG | | | | | | | + + +## Arbitrum Markets: + +| **Market** | **minimumInitialMarginRatio** | **InitialMarginRatio** | **maintenanceMarginScalar** | **skewScale** | **maxMarketSize** | **maxMarketValue** | +|:----------:|:-----------------------------:|:----------------------:|:---------------------------:|:-------------------:|:-----------------:|:------------------:| +| GOAT | | | | | | | +| MOODENG | | | | | | | + + +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/). From f253810807a5d8a1fc6d3ce082f01e3bac9ade7e Mon Sep 17 00:00:00 2001 From: 0xrobin2192 Date: Mon, 28 Oct 2024 11:29:44 -0700 Subject: [PATCH 2/3] Update sccp-361.md --- content/sccp/sccp-361.md | 6 +++++- 1 file changed, 5 insertions(+), 1 deletion(-) diff --git a/content/sccp/sccp-361.md b/content/sccp/sccp-361.md index 49da7ec44..a7be7f41e 100644 --- a/content/sccp/sccp-361.md +++ b/content/sccp/sccp-361.md @@ -1,6 +1,6 @@ --- sccp: 361 -title: Deploy GOAT and MOODENG Markets to Perps V3 Base and Arbitrum +title: Deploy More Markets to Perps V3 Base and Arbitrum network: Arbitrum & Base status: Draft type: Governance @@ -18,6 +18,8 @@ This SCCP proposes to deploy the below markets on Perps V3 on Base and Arbitrum. |:----------:|:-----------------------------:|:----------------------:|:---------------------------:|:-------------------:|:-----------------:|:------------------:| | GOAT | | | | | | | | MOODENG | | | | | | | +| SAFE | | | | | | | +| CAT | | | | | | | ## Arbitrum Markets: @@ -26,6 +28,8 @@ This SCCP proposes to deploy the below markets on Perps V3 on Base and Arbitrum. |:----------:|:-----------------------------:|:----------------------:|:---------------------------:|:-------------------:|:-----------------:|:------------------:| | GOAT | | | | | | | | MOODENG | | | | | | | +| SAFE | | | | | | | +| CAT | | | | | | | Aside from the above parameters , the perps markets will have the following configurations as well: From 07de8e3a2d2e47cad55bb406716548d7df4839c2 Mon Sep 17 00:00:00 2001 From: kaleb <62237347+kaleb-keny@users.noreply.github.com> Date: Tue, 29 Oct 2024 14:59:24 +0100 Subject: [PATCH 3/3] Update sccp-361.md --- content/sccp/sccp-361.md | 27 +++++++-------------------- 1 file changed, 7 insertions(+), 20 deletions(-) diff --git a/content/sccp/sccp-361.md b/content/sccp/sccp-361.md index a7be7f41e..91e1b5a35 100644 --- a/content/sccp/sccp-361.md +++ b/content/sccp/sccp-361.md @@ -12,28 +12,15 @@ author: Robin (@robin2192), Kaleb This SCCP proposes to deploy the below markets on Perps V3 on Base and Arbitrum. -## Base Markets: - -| **Market** | **minimumInitialMarginRatio** | **InitialMarginRatio** | **maintenanceMarginScalar** | **skewScale** | **maxMarketSize** | **maxMarketValue** | -|:----------:|:-----------------------------:|:----------------------:|:---------------------------:|:-------------------:|:-----------------:|:------------------:| -| GOAT | | | | | | | -| MOODENG | | | | | | | -| SAFE | | | | | | | -| CAT | | | | | | | - - -## Arbitrum Markets: - -| **Market** | **minimumInitialMarginRatio** | **InitialMarginRatio** | **maintenanceMarginScalar** | **skewScale** | **maxMarketSize** | **maxMarketValue** | -|:----------:|:-----------------------------:|:----------------------:|:---------------------------:|:-------------------:|:-----------------:|:------------------:| -| GOAT | | | | | | | -| MOODENG | | | | | | | -| SAFE | | | | | | | -| CAT | | | | | | | - +| **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 +- TakerFeeRatio: 10 bp (5 bp during the promotional period) - MakerFeeRatio: 0 bp - maxFundingVelocity: 9 - flagRewardRatio: 3 bp