SCCP-367 / 368 / 370 / 2147 / 2148

content/sccp/sccp-2146.md

@@ -3,7 +3,7 @@ sccp: 2146
 network: Optimism
 title: Raise the USDe Wrapper Cap on Optimism
 author: Kaleb
-status: Vote_Pending
+status: Implemented
 proposal: >-
  https://snapshot.org/#/snxgov.eth/proposal/0x31f3078ce7110bf267d81d49509bd33fc1d6632c3c7ba80270bd4e4af8c37f2a
 created: 2024-11-18

content/sccp/sccp-2147.md

@@ -0,0 +1,27 @@
+---
+sccp: 2147
+title: Raise the OI Cap on SOL
+network: Optimism
+status: Vote_Pending
+type: Governance
+created: 2024-11-22
+author: Kaleb
+proposal: >-
+  https://snapshot.org/#/snxgov.eth/proposal/0x5301c7277ec41c80b194d7d0d395606e5c0884d9b52b1a1c58e724ee5088bbe4
+---
+
+# Simple Summary
+
+This SCCP proposes to raise the `maxMarketValue` on the SOL market to 670k (175m dollars) from 550k.
+
+# Abstract
+
+The `maxMarketValue` is the limit set on open interest (longs or shorts).
+
+# Motivation
+
+The change is in light of the recent utilization of the limit on the SOL market which is quickly approaching 90%. Note that the market is backed by the size of the SNX staked, close to 370m$, given the deprecation of spot markets and legacy products.
+
+
+# Copyright
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).

content/sccp/sccp-2148.md

@@ -0,0 +1,27 @@
+---
+sccp: 2148
+title: Raise the Capacity on USDe Wrapper
+network: Optimism
+status: Vote_Pending
+type: Governance
+created: 2024-11-22
+author: Kaleb
+proposal: >-
+ https://snapshot.org/#/snxgov.eth/proposal/0x6d8ebec1efa80184df8afa1dd4e0857536fcae956dd030a79e7b82226de8fd85
+---
+
+# Simple Summary
+
+This SCCP proposes to raise the `maxTokenAmount` on the USDe wrapper on optimism from 60m to 70m.
+
+# Abstract
+
+The `maxTokenAmount` is the limit set the total size that can be wrapped by given token.
+
+# Motivation
+
+The change is in light of the recent utilization of the limit on the wrapper with wound 52m currently being wrapped.
+
+
+# Copyright
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).

content/sccp/sccp-365.md

@@ -2,7 +2,7 @@
 sccp: 365
 title: Update Keeper Settlement Reward
 network: Arbitrum & Base
-status: Vote_Pending
+status: Implemented
 type: Governance
 created: 2024-11-19
 author: Kaleb

content/sccp/sccp-366.md

@@ -2,7 +2,7 @@
 sccp: 366
 title: Lower the minimum position margin
 network: Arbitrum & Base
-status: Vote_Pending
+status: Implemented
 type: Governance
 created: 2024-11-19
 author: Kaleb

content/sccp/sccp-367.md

@@ -0,0 +1,26 @@
+---
+sccp: 367
+title: Temporarily Lower the locked OI Ratio to 0.25
+network: Arbitrum
+status: Vote_Pending
+type: Governance
+created: 2024-11-22
+author: Kaleb
+proposal: >-
+  https://snapshot.org/#/snxgov.eth/proposal/0x2a190db6b1c38d2a5930f1efb4cec4af602e0eb8b697579edb6fe005543f60ad
+---
+
+# Simple Summary
+
+This SCCP proposes to temporarily reduce the locked oi ratio on all perp markets on arbitrum from 0.5 to 0.20.
+
+# Abstract
+
+The locked oi ratio determines the size of of oi allowed for a given LP backing. A ratio of 0.50 means that for each dollar of oi needs to be backed by 0.5 dollars of LP.
+
+# Motivation
+The change is in light of upcoming changes to the core that better account for the amount of LP backing markets in the system. When Core is updated next week, the changes in this SCCP will be reverted back to the original state. 
+
+
+# Copyright
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).

content/sccp/sccp-368.md

@@ -0,0 +1,27 @@
+---
+sccp: 368
+title: Enable sUSDC to be used as margin on Arbitrum 
+network: Arbitrum
+status: Vote_Pending
+type: Governance
+created: 2024-11-22
+author: Kaleb
+proposal: >-
+  https://snapshot.org/#/snxgov.eth/proposal/0x5db509f67489f8b0193629f19d4b4a36966a44ad07c06aff9b30abe30f8c20e5
+---
+
+# Simple Summary
+
+This SCCP proposes to enable `sUSDC` to be used as margin on Perps v3 with no discount being applied on the margin or slippage.
+
+# Abstract
+
+Enabling USDC margin to be used on Perps V3 Arbitrum is done with the `setCollateralConfiguration` under PerpsMarketProxy, implemented under this [PR](https://github.com/Synthetixio/synthetix-deployments/pull/558).
+
+# Motivation
+
+Originally due to the USDx peg issues, this was not implemented in order to ensure that traders could get back their USDC margin after having wrapped the token to mint sUSDC. However, since LP's minting USDx had been restricted in [SCCP-352](https://sips.synthetix.io/sccp/sccp-352/) and the peg state of USDx is constrained to the point of allowing margining of USDC with low risk of wrapper liquidity being depleted by LPs.
+
+
+# Copyright
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).

content/sccp/sccp-370.md

@@ -0,0 +1,56 @@
+---
+sccp: 370
+title: Deploy More Markets to Perps V3 Base and Arbitrum
+network: Arbitrum & Base
+status: Vote_Pending
+type: Governance
+created: 2024-11-24
+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** |
+|:----------:|:-----------------------------:|:----------------------:|:---------------------------:|:-------------:|:-----------------:|:------------------:|
+|     CAT    |               5%              |          0.449         |            0.335            |  100 billion  |    50 trillion    |         2m         |
+|    DEGEN   |               5%              |          0.658         |            0.317            |  100 million  |    600 million    |         1m         |
+|    SLERF   |               5%              |          1.073         |            0.317            |    5 million  |     15 million    |        500k        |
+
+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/).

content/sips/sip-366.md

@@ -2,7 +2,7 @@
 sip: 366
 title: Asynchronous Delegation
 network: Ethereum, Optimism, Base & Arbitrum
-status: Approved
+status: Rejected
 type: Governance
 author: 'Jared Borders (@jaredborders), kaleb (@kaleb-keny)'
 created: 2024-03-04