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sccp-2059 #1757

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sccp-2058
kaleb-keny Nov 16, 2023
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Update sccp-2059.md
kaleb-keny Nov 16, 2023
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4 changes: 3 additions & 1 deletion content/sccp/sccp-2058.md
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Expand Up @@ -3,7 +3,9 @@ sccp: 2058
network: Optimism
title: Update Perps V2 Parameters
author: Kaleb (@kaleb-keny)
status: Vote_Pending
status: Implemented
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0xb9e2490229fbe660d3a003dd5a08c23aa38e1186d494cca1cc75e3859e8c44d9
created: 2023-11-15
type: Governance
---
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45 changes: 45 additions & 0 deletions content/sccp/sccp-2059.md
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---
sccp: 2059
network: Optimism
title: Update Perps V2 Parameters
author: Kaleb (@kaleb-keny)
status: Vote_Pending
created: 2023-11-16
type: Governance
---

# Simple Summary

This SCCP proposes to update the perps v2 parameters as per the below:

## Skew Scale

| **Market** | **Current Scale** | **Proposed Scale** | **Current Slippage** | **Proposed Slippage** | **Cex Slippage** |
|:----------:|:-----------------:|:------------------:|:--------------------:|:---------------------:|:----------------:|
| MATIC | 150,000,000 | 75,000,000 | 4 | 8 | 6 |

*Slippage in bp per 100k$ trade*

## Max Market Value

| **Market** | **Current MV** | **Proposed MV** | **Propose MV$** | **Cex OI** |
|:----------:|:--------------:|:---------------:|:---------------:|:----------:|
| MATIC | 8M | 12M | 10M | 107M |



# Abstract

Below is a description of the parameter changes propopsed in the SCCP:
- `MaxMarketValue` is the maximum possible open interest on any given side of a perp market.
- `skewScale` is the scaling factor of the relevant market in the underlying currency for computing PD and Funding Rates.

# Motivation

The proposed parameter changes on skew scale aim at increasing the incentive on arbitrageurs to arbitrage the skew by targeting an effective liquidity comfortably below liquidity available on centralized exchanges. While the motivation behind the changes on max market value levels are done in order to align the oi caps with historical utilization (after incorporating a buffer).

# Copyright

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


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