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kaleb-keny authored Jan 20, 2025
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4 changes: 3 additions & 1 deletion content/sccp/sccp-2152.md
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network: Optimism
title: Deprecate FTM Market
author: Kaleb (@kaleb-keny)
status: Vote_Pending
status: Implemented
created: 2024-01-06
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0x3c7d4cef9ff712bd65c4dd4070c5ace12147e82c69735e91515a0fa32abd8e0e
type: Governance
---

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4 changes: 3 additions & 1 deletion content/sccp/sccp-2153.md
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network: Optimism
title: Open Account Merge Window
author: Kaleb (@kaleb-keny)
status: Vote_Pending
status: Implemented
created: 2024-01-06
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0xb8d5627f6298f268c310e40b05cfa8d6b9b5ca19ae8ddb4759ac208d2e0624fa
type: Governance
---

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97 changes: 97 additions & 0 deletions content/sccp/sccp-2154.md
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---
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/).
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---
sccp: 2155
title: 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](https://optimistic.etherscan.io/address/0x4dd03dfd36548c840b563745e3fbec320f37ba7e) tokens as collateral, which can be minted on [paraswap](https://app.paraswap.xyz/), 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/).
4 changes: 3 additions & 1 deletion content/sccp/sccp-378.md
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network: Optimism & Base
title: Update tracking code for Synthetix Exchange
author: Robin (@robin2192)
status: Draft
status: Implemented
created: 2025-01-06
type: Governance
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0x346cd4492dce960044e130ff441ab2d199a328688b046e8c16147ead48fc7fb9
---

## Simple Summary
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4 changes: 3 additions & 1 deletion content/sccp/sccp-379.md
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network: Optimism & Base
title: Creating tracking code for Synthetix Leverage
author: Robin (@robin2192)
status: Draft
status: Implemented
type: Governance
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0x43d598920c4f91805965e875bffb8a29ad4719b8c08fb6f4b24ef91d519843e0
---

## Simple Summary
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4 changes: 3 additions & 1 deletion content/sccp/sccp-380.md
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network: Arbitrum
title: Decrease OI Caps on Arbitrum Perps to Zero
author: Kaleb (@kaleb-keny)
status: Vote_Pending
status: Implemented
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0x03a88cd83d9387df8538c7bc71761620ccf3a94576b9551dd4574205e226128b
type: Governance
---

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4 changes: 3 additions & 1 deletion content/sccp/sccp-381.md
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network: Base
title: Decrease OI Caps on the FTM Market to zero
author: Kaleb (@kaleb-keny)
status: Vote_Pending
status: Implemented
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0x84ca27a9fe1d27bf14c6c9975cf4a7c4d13b1d4a93e33a2015361090bc5a3ba6
type: Governance
---

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