SCCP-2016: Update PEPE and FLOW Perp OI
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2023-06-23 |
Simple Summary
This SCCP proposes to update the maxMarketValue of FLOW and PEPE as per the below:
| Market | Current | Proposed | Change |
|---|---|---|---|
| sPEPE | 600 b | 1200 b | +600 B |
| sFLOW | 100k | 400k | +300k |
Abstract
Below is a description of the parameter being changed:
maxMarketValueis the maximum amount of open interest allowed on long and short positions in a given perp market.
Motivation
The primary motivation is the increase utilization of these markets. It is worth mentioning that binance OI for PEPE and FLOW are 85m$ and 8m$ respectively, while the proposed Synthetix parameters are 1.7m$ and 300k$, hence, the parameters are still reasonably conservative.
Copyright
Copyright and related rights waived via CC0.