Skip to content

Commit

Permalink
create sccps
Browse files Browse the repository at this point in the history
  • Loading branch information
@kaleb-keny
kaleb-keny committed Jan 20, 2025
1 parent e3b8b45 commit 0e8cd44
Show file tree
Hide file tree
Showing 4 changed files with 318 additions and 0 deletions.
97 changes: 97 additions & 0 deletions content/sccp/sccp-2154.md
View file
Original file line number Diff line number Diff line change
@@ -0,0 +1,97 @@
---
sccp: 2154
network: Optimism
title: Update V2x Perp Parameters
author: Kaleb (@kaleb-keny)
status: Vote_Pending
created: 2024-01-20
type: Governance
---

# Simple Summary

This SCCP proposes update the parameters of v2x Markets as per the below:

## MaxMarketValue

| **currency** | **Current $M** | **Proposed $M** | **Cex $M** | **Proposed in Market Currency** |
|:------------:|:--------------:|:---------------:|:----------:|:-------------------------------:|
| BTC | 138.91 | 75 | 8,848 | 756 |
| STETH | 4.94 | 0 | 0 | 0.00 |
| SOL | 130.37 | 75 | 1,382 | 385,449 |
| DOGE | 18.33 | 10 | 732 | 27,000 |
| BNB | 14 | 10 | 385 | 14,000 |
| XRP | 8.58 | 10 | 943 | 3,500,000 |
| USDT | 5 | 5 | 5 | 5,000,000 |
| PEPE | 9.03 | 5 | 236 | 270,000,000,000 |
| ADA | 7.87 | 5 | 227 | 4,750,000 |
| SUI | 5.7 | 5 | 294 | 1,000,000 |
| LINK | 5.13 | 5 | 145 | 230,000 |
| LTC | 3.35 | 5 | 122 | 570,000 |
| TRX | 2.29 | 3 | 65 | 130,000,000 |
| AVAX | 7.27 | 3 | 140 | 75,000 |
| XLM | 2.13 | 5 | 83 | 10,000,000 |
| SHIB | 1.58 | 3 | 74 | 130,000,000,000 |
| WLD | 0.77 | 3 | 119 | 1,500,000 |
| ARB | 2.08 | 5 | 68 | 6,500,000 |
| BONK | 3.38 | 5 | 45 | 180,000,000,000 |
| ORDI | 0.52 | 5 | 54 | 200,000 |
| CRV | 1.68 | 3 | 60 | 3,300,000 |
| OP | 2.71 | 3 | 45 | 1,600,000 |
| SEI | 0.58 | 3 | 48 | 7,600,000 |
| INJ | 1.77 | 3 | 42 | 130,000 |
| UNI | 1.37 | 3 | 98 | 220,000 |
| RUNE | 1.17 | 3 | 26 | 900,000 |
| DYDX | 0.42 | 3 | 32 | 2,300,000 |
| TIA | 1.01 | 3 | 66 | 600,000 |
| PYTH | 0.66 | 1.5 | 15 | 5,000,000 |
| MKR | 1.76 | 3 | 42 | 2,130 |


## Funding Rates
Increase `maxFundingRateVelocity` on ETH and BTC back to 9 from 4

## Fees
Raise SOL, PEPE and DOGE Maker fees to 2 bp from 0.01 bp

## Skew Scale

| **currency** | **Current** | **Proposed** | **Cex Slippage** | **Proposed Slippage** |
|:------------:|:-----------:|:------------:|:----------------:|:---------------------:|
| XRP | 187,500,000 | 58,593,750 | 4 | 16 |
| LTC | 1,687,500 | 590,630 | 10 | 40 |
| LINK | 7,500,000 | 3,000,000 | 10 | 40 |
| BNB | 637,500 | 318,750 | 3 | 12 |
| ADA | 150,000,000 | 75,000,000 | 8 | 32 |
| SUI | 25,300,000 | 14,758,330 | 9 | 36 |
| SOL | 2,800,000 | 1,750,000 | 2 | 8 |
| SUSHI | 7,875,000 | 5,088,070 | 77 | 308 |
| XLM | 166,500,000 | 111,000,000 | 12 | 48 |
| ETC | 2,250,000 | 1,511,720 | 16 | 64 |
| EOS | 48,000,000 | 34,363,640 | 22 | 88 |
| ARB | 34,000,000 | 51,000,000 | 16 | 64 |
| FIL | 6,375,000 | 9,562,500 | 12 | 48 |
| INJ | 712,500 | 1,125,750 | 25 | 100 |
| ORDI | 750,000 | 1,273,030 | 19 | 76 |
| DYDX | 9,000,000 | 15,387,100 | 31 | 124 |
| ICP | 1,000,000 | 1,713,240 | 34 | 136 |
| WLD | 9,750,000 | 19,662,500 | 15 | 60 |
| SEI | 35,500,000 | 72,210,230 | 22 | 88 |
| TIA | 1,500,000 | 3,820,310 | 32 | 128 |

# Abstract

The parameter descriptions are as follows:
- The `maxMarketValue` is the parameter in the markets' native currency that sets the acceptable oi beyound which orders are not allowed to be opened.
- The `maxFundingRateVelocity` determines the speed at which market's funding rate change for a given level of skew.
- The `makerFee` is the fee paid when balancing out the skew in a given market
- The `skewScale` is 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](https://creativecommons.org/publicdomain/zero/1.0/).
23 changes: 23 additions & 0 deletions content/sccp/sccp-2155.md
View file
Original file line number Diff line number Diff line change
@@ -0,0 +1,23 @@
---
sccp: 2155
title: Private Market Makers Over-Collateralized sUSD Loans
network: Optimism
status: Vote_Pending
type: Governance
created: 2025-01-20
author: Kaleb
---

# Simple Summary

This SCCP proposes the establishment of a Gnosis Safe, managed by the Treasury, to hold the 5 million sUSD minted under SIP-2151. The Treasury will use this safe to offer market makers sUSD loans. Market makers can deposit yield-bearing Static AAVE USDCn tokens as collateral and receive sUSD loans at 90% LTV with no interest or fees. To reclaim their collateral, market makers simply return the borrowed sUSD to the safe.


# Motivation

The primary motivation is to provide market makers with a seamless mechanism to on-ramp and off-ramp sUSD, enhancing the trading experience for traders on Optimism.
Market makers interested in participating can submit a request via the [Synthetix Discord](https://discord.gg/88Ee8meP). Treasury has full discretion over program applicants, reserving the right to reject small traders or those engaging in non perp market arbitrage activities. Priority will be given to market makers with a proven track record of executing high-volume arbitrage on Optimism.


# Copyright
Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
142 changes: 142 additions & 0 deletions content/sccp/sccp-382.md
View file
Original file line number Diff line number Diff line change
@@ -0,0 +1,142 @@
---
sccp: 382
network: Base
title: Update Perps V3 Parameters
author: Kaleb (@kaleb-keny)
created: 2025-01-20
status: Vote_Pending
type: Governance
---

## Simple Summary

This SCCP proposes to update the perps v3 parameters as per the below:

### Funding Rate Velocity
- Increase the funding rate velocity on ETH and BTC to 9 from 4
- Increase the velocity on other markets to 36, except for the ratio markets

### Maker Fees
Increase the maker fees to 2 bp from 0 bp on eigen, io, mew, mkr, not, people, pol, popcat, render, sats, wld, zro, safe, goat, moodeng, pnut, cat, degen, slerf, morpho, chillguy, aero, soleth, pengu, virtual, kmno and fartcoin

### Skew Scale

| **currency** | **Current** | **Proposed** | **Cex Slippage** | **Proposed Slippage** |
|:------------:|:------------------:|:-----------------:|:----------------:|:---------------------:|
| kmno | 5,000,000 | 7,685,300 | 598 | 2,392 |
| aero | 500,000 | 1,429,300 | 357 | 1,428 |
| popcat | 20,250,000 | 31,084,200 | 44 | 176 |
| w | 59,062,500 | 31,523,600 | 80 | 321 |
| bal | 1,125,000 | 137,300 | 1,615 | 6,459 |
| fxs | 2,104,687 | 426,800 | 467 | 1,870 |
| yfi | 2,125 | 600 | 130 | 512 |
| gmx | 250,000 | 78,700 | 333 | 1,331 |
| pyth | 60,000,000 | 19,044,900 | 97 | 388 |
| comp | 241,876 | 78,300 | 93 | 374 |
| snx | 10,200,000 | 3,627,800 | 101 | 404 |
| blur | 100,000,000 | 36,652,500 | 81 | 326 |
| pendle | 6,000,000 | 2,475,800 | 62 | 247 |
| ldo | 21,000,000 | 9,370,600 | 38 | 150 |
| grt | 112,500,000 | 57,799,000 | 51 | 203 |
| algo | 103,875,000 | 54,100,700 | 25 | 99 |
| jto | 8,000,000 | 4,172,900 | 50 | 198 |
| axs | 4,218,750 | 2,218,700 | 46 | 182 |
| ethfi | 16,500,000 | 9,022,000 | 35 | 141 |
| sushi | 16,000,000 | 9,058,200 | 47 | 187 |
| axl | 10,125,000 | 6,019,400 | 163 | 651 |
| imx | 8,400,000 | 5,304,800 | 95 | 382 |
| jup | 33,750,000 | 21,400,800 | 28 | 113 |
| icp | 3,000,000 | 1,918,600 | 32 | 127 |
| strk | 40,000,000 | 29,585,200 | 52 | 209 |
| slerf | 5,000,000 | 23,843,900 | 160 | 642 |
| chillguy | 8,000,000 | 24,005,300 | 308 | 1,230 |
| virtual | 2,000,000 | 4,931,300 | 46 | 184 |
| mew | 2,500,000,000 | 911,660,400 | 120 | 479 |
| eigen | 4,000,000 | 2,846,600 | 75 | 299 |
| crv | 240,000,000 | 36,240,800 | 19 | 76 |
| xlm | 333,000,000 | 103,981,000 | 13 | 51 |
| io | 6,000,000 | 2,324,500 | 83 | 334 |
| ena | 102,000,000 | 39,767,500 | 17 | 69 |
| atom | 11,250,000 | 4,402,900 | 22 | 89 |
| dydx | 45,000,000 | 18,601,500 | 27 | 109 |
| etc | 3,375,000 | 1,492,400 | 15 | 62 |
| eos | 72,000,000 | 35,750,100 | 20 | 81 |
| inj | 2,250,000 | 1,128,300 | 24 | 95 |
| uni | 4,500,000 | 2,725,500 | 16 | 64 |
| zro | 4,250,000 | 2,632,900 | 53 | 211 |
| stx | 22,500,000 | 15,022,400 | 28 | 110 |
| morpho | 2,000,000 | 1,380,100 | 130 | 521 |
| arb | 82,000,000 | 60,186,800 | 14 | 56 |
| tia | 6,000,000 | 4,501,100 | 28 | 112 |
| render | 2,250,000 | 3,244,500 | 27 | 107 |
| degen | 100,000,000 | 228,283,200 | 329 | 1,314 |
| pepe | 12,600,000,000,000 | 4,152,595,936,800 | 9 | 35 |
| pnut | 10,000,000 | 54,128,800 | 27 | 109 |
| xrp | 400,000,000 | 32,263,500 | 6 | 24 |
| doge | 1,578,000,000 | 408,170,800 | 4 | 16 |
| trx | 806,250,000 | 220,979,900 | 12 | 47 |
| sui | 55,000,000 | 15,109,000 | 9 | 34 |
| ada | 300,000,000 | 82,468,000 | 7 | 28 |
| ltc | 1,687,500 | 469,000 | 11 | 44 |
| aave | 360,000 | 103,900 | 17 | 69 |
| dot | 15,000,000 | 7,268,400 | 13 | 51 |
| bonk | 1,600,000,000,000 | 802,983,764,800 | 23 | 91 |
| bch | 168,750 | 84,900 | 16 | 64 |
| link | 5,625,000 | 3,054,000 | 8 | 32 |
| ton | 12,000,000 | 6,586,100 | 19 | 74 |
| apt | 6,075,000 | 3,475,200 | 20 | 80 |
| near | 11,718,750 | 6,973,600 | 16 | 66 |
| bnb | 375,000 | 233,000 | 4 | 15 |
| avax | 2,500,000 | 1,580,100 | 10 | 41 |
| fil | 12,750,000 | 8,723,100 | 13 | 54 |
| shib | 3,750,000,000,000 | 2,572,944,297,100 | 11 | 45 |
| fartcoin | 7,000,000 | 5,094,000 | 58 | 230 |
| cat | 100,000,000,000 | 307,372,493,500 | 92 | 367 |
| goat | 20,000,000 | 41,245,100 | 56 | 222 |
| moodeng | 50,000,000 | 28,071,600 | 138 | 550 |
| pol | 75,000,000 | 44,472,400 | 30 | 119 |
| pengu | 300,000,000 | 684,462,100 | 36 | 142 |
| sol | 2,812,500 | 817,500 | 3 | 12 |

### Leverage Parameters

| **ticker** | **Existing IMS** | **Existing minIMR** | **Existing MMS** | **Proposed minIMR** | **Proposed minIMR** | **Proposed MMS** |
|:----------:|:----------------:|:-------------------:|:----------------:|:-------------------:|:-------------------:|:----------------:|
| bnb | 10.72 | 0.02 | 0.35 | 4.933 | 0.02 | 0.401 |
| flow | 9.28 | 0.1 | 0.28 | 1.669 | 0.1 | 0.265 |
| avax | 9.08 | 0.02 | 0.36 | 2.88 | 0.02 | 0.4 |
| link | 6.73 | 0.02 | 0.37 | 3.921 | 0.02 | 0.415 |
| rune | 5.39 | 0.05 | 0.36 | 1.325 | 0.05 | 0.333 |
| algo | 5.19 | 0.05 | 0.36 | 2.173 | 0.05 | 0.343 |
| sei | 5.13 | 0.05 | 0.39 | 0.405 | 0.05 | 0.365 |
| sol | 4.9 | 0.02 | 0.33 | 3.592 | 0.02 | 0.391 |
| pepe | 4.88 | 0.04 | 0.43 | 1.874 | 0.04 | 0.345 |
| pnut | 4.688 | 0.05 | 0.317 | 0.443 | 0.0333 | 0.38 |
| arkm | 4.43 | 0.05 | 0.44 | 0.89 | 0.05 | 0.334 |
| ada | 4.35 | 0.05 | 0.33 | 2.632 | 0.0333 | 0.355 |
| arb | 4.16 | 0.033333 | 0.38 | 1.537 | 0.033333 | 0.388 |
| w | 3.87 | 0.05 | 0.35 | 1.41 | 0.05 | 0.35 |
| ena | 3.46 | 0.05 | 0.38 | 1.08 | 0.05 | 0.344 |
| near | 3.35 | 0.05 | 0.36 | 0.6 | 0.05 | 0.337 |
| jup | 3.35 | 0.05 | 0.37 | 0.977 | 0.05 | 0.346 |


## Abstract


The parameter descriptions are as follows:
- The `maxFundingRateVelocity` determines the speed at which market's funding rate change for a given level of skew.
- The `makerFee` is the fee paid when balancing out the skew in a given market
- The `skewScale` is the parameter that determines the slippage that is imposed on a market for a given skew.
- `IMS` is the `initialMarginRatio` the proportion of the size of the position that is held as the initial margin.
- `minIMR` is the minimum initial margin ratio, the minimum proportion of one's position that is held as margin.
- `MMS` is the maintenanceMarginScalar, the scalar multiplied by the initial margin in order to obtain the maintenance margin.


## 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](https://creativecommons.org/publicdomain/zero/1.0/).
Loading

0 comments on commit 0e8cd44

Please sign in to comment.