Simple Summary

This SCCP aims at improving the user experience on Perps V2 with the following changes, matching the configurations on the v3 network:

• Raise the skewScale parameter on the SOL market to 2.8m, from 2.1m
• Lower the maxFundingVelocity on the SOL market to 9 from 36
• Lower the maxFundingVelocity on the ETH and BTC market to 4 from 9
• Raise the maxMarketValue on the SOL market to 550 thousand (100m USD)

Abstract

The definitions of the parameter being proposed to change are as follows:

• skewScale is the scaling factor of the relevant market in the underlying currency for computing PD and Funding Rates
• maxFundingVelocity is the main parameter that allows to nudge funding rates
• maxMarketValue is the max market value of the relevant market in the underlying currency

Motivation

The proposed changes are in light of the utilization on the SOL perp market, as well as aligning the funding rate and slippage experience on v3 which is more relaxed.

Copyright

Copyright and related rights waived via CC0.