SCCP-243: Update SOL-PERP
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2022-11-09 |
Simple Summary
This SCCP proposes to update the SOL-PERP maxMarketValueUSD from 3M to 200k sUSD.
Abstract
The maxMarketValueUSD sets the total open interest traders can have on a single market in a given direction. Changing the maxMarketValueUSD would prevent users from opening new positions until the open interest falls below this threshold, limiting risk to SNX stakers.
Motivation
Due to recent developments in the cryptocurrency markets specifically impacting large investors in Solana, elevated volatility, and lower liquidity than when initially listed, it would be prudent to limit stakers' exposure and prevent potential frontrunning and market manipulation until market conditions normalize and the SOL asset can be properly evaluated.
Copyright
Copyright and related rights waived via CC0.