Simple Summary

Increase minKeeperFee from 1000000000000000000 (1 sUSD) to 2000000000000000000 (2 sUSD)

Abstract

minKeeperFee defines the amount in sUSD to pay keepers for executing delayed orders (both on-chain and off-chain). This SCCP proposes to double the amount from 1 sUSD to 2 sUSD.

Motivation

The current sUSD amount paid to keepers is exactly 1 sUSD. 1 sUSD barely covers the amount required in gas to execute an order, specifically off-chain delayed orders. Depending on network activity and the price of ETH, sometimes keepers even make a loss. The cause for this is largely due to the gas requirements needed for uploading and updating price data on-chain before executing an order.

This change should be made to ensure orders are executed in a timely manner by many individuals/entities. It directly improves protocol decentralisation, general protocol stability, and offers a better user experience for traders.

There are some caveats to consider when updating minKeeperFee:

• minKeeperFee is deducted from a trader's deposited margin.
• It's the same amount used for both off-chain and on-chain orders but on-chain orders have much lower gas requirements.
• It's also used to specify the minimum amount a keeper will receive upon successfully liquidating a position. That said, rewards received from liquidation tend to be far greater than this minimum.

Copyright

Copyright and related rights waived via CC0.