SCCP-384: Update Perps V3 Parameters
| Author | |
|---|---|
| Status | Vote_Pending |
| Type | Governance |
| Network | Base |
| Implementor | TBD |
| Release | TBD |
| Created | 2025-01-23 |
Simple Summary
This SCCP proposes to update the perps v3 parameters as per the below:
Skew Scale
| market | current | proposed | cex slippage | snx slippage |
|---|---|---|---|---|
| fartcoin | 5,094,000 | 8,710,600 | 49 | 198 |
| imx | 5,304,800 | 9,217,700 | 58 | 232 |
| moodeng | 28,071,600 | 50,595,000 | 83 | 332 |
| jup | 21,400,800 | 38,682,000 | 20 | 82 |
| fxs | 426,800 | 809,400 | 283 | 1,132 |
| bome | 3,750,000,000 | 7,314,837,000 | 21 | 83 |
| pyth | 19,044,900 | 39,271,400 | 51 | 203 |
| tao | 32,500 | 74,800 | 22 | 87 |
| melania | 1,500,000 | 3,730,900 | 58 | 232 |
| xrp | 32,263,500 | 82,774,400 | 2 | 10 |
| aero | 1,429,300 | 2,407,400 | 245.56 | 982 |
| ordi | 1,305,000 | 2,282,000 | 13.28 | 53 |
| pnut | 54,128,800 | 95,366,700 | 18.57 | 74 |
| io | 2,324,500 | 4,306,600 | 45.45 | 182 |
| ltc | 469,000 | 982,900 | 5.38 | 22 |
| eigen | 2,846,600 | 7,998,700 | 26.33 | 105 |
| trump | 750,000 | 3,138,300 | 3.84 | 23 |
The slippage denoted above are on trades of size 500k$
Max Market Value
| market | current m$ | proposed m$ | cex m$ |
|---|---|---|---|
| cat | 2.00 | 1 | 10.64 |
| safe | 0.41 | 0.25 | 2.02 |
| degen | 1.00 | 0.5 | 4.65 |
| slerf | 0.50 | 0.25 | 2.25 |
Abstract
The parameter descriptions are as follows:
- The
skewScaleis the parameter that determines the slippage that is imposed on a market for a given skew.
Motivation
The main motivation is to be better align outstanding markets offered on synthetix with the data available available on centralized exchanges.
Copyright
Copyright and related rights waived via CC0.