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kaleb-keny authored May 27, 2024
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4 changes: 3 additions & 1 deletion content/sccp/sccp-2112.md
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network: Ethereum
title: Update Dynamic Redeemer Discount Rate
author: Kaleb (@kaleb-keny)
status: Vote_Pending
status: Implemented
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0x42f870e5411874e9f156190983ba285423fcbca3e83ce5dd26c4458c26aa3f10
created: 2024-05-23
type: Governance
---
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4 changes: 3 additions & 1 deletion content/sccp/sccp-2113.md
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network: Ethereum
title: Update Dynamic Redeemer Discount Rate - Slow Decay
author: Kaleb (@kaleb-keny)
status: Vote_Pending
status: Approved
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0x01ad0a2e4fcc09b26a723b60d1f05f04c6db25eb689f85f7518ffb89be7064e0
created: 2024-05-23
type: Governance
---
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4 changes: 3 additions & 1 deletion content/sccp/sccp-2114.md
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network: Ethereum & Optimism
title: Update Issuance Ratio
author: Kaleb (@kaleb-keny)
status: Vote_Pending
status: Implemented
proposal: >-
https://snapshot.org/#/snxgov.eth/proposal/0x4ae9d606b85875df9ffde2877ec3a7b262b5d9c3b624df106f3c8f7a2f720907
created: 2024-05-24
type: Governance
---
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42 changes: 42 additions & 0 deletions content/sccp/sccp-2115.md
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---
sccp: 2115
network: Base
title: Update Perps V3 Parameters
author: Kaleb (@kaleb-keny)
status: Vote_Pending
created: 2024-05-27
type: Governance
---

# Simple Summary

This SCCP proposes to update the perps v3 parameters as per the below:

## Skew Scale:

| **Market** | **Current Scale** | **Proposed Scale** | **Current Slippage** | **Proposed Slippage** | **Cex Slippage** |
|:----------:|:-----------------:|:------------------:|:--------------------:|:---------------------:|:----------------:|
| WIF | 10,000,000 | 15,000,000 | 162.59 | 108.39 | 27.24 |


** Slippage figures in the table above are with respect to a trade size of USD 1 million **

## Maker Fee

Lower the SOL market maker fee to 0.01 bp from 2 bp

# Abstract

Below is a description of the parameter changes proposed in the SCCP:
- `skewScale` is the scaling factor of the relevant market in the underlying currency for computing PD and Funding Rates.
- `makerFee` is the fee applied when a trader decreases the skew taken on by liquidity providers.

# Motivation

The proposed parameter changes on maker fee aim at increasing the incentive for arbitraging the skew. While the parameter changes proposed on skew scale aim at improving the value offering on WIF, given the current market conditions.

# Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).


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---
sccp: 2116
network: Optimism
title: Update Perps V2 Parameters
author: Kaleb (@kaleb-keny)
status: Vote_Pending
created: 2024-05-27
type: Governance
---

# Simple Summary

This SCCP proposes to update the perps v2 parameters as per the below:

## Skew Scale:

| **Market** | **Current Scale** | **Proposed Scale** | **Current Slippage** | **Proposed Slippage** | **Cex Slippage** |
|:----------:|:-----------------:|:------------------:|:--------------------:|:---------------------:|:----------------:|
| PYTH | 14,437,500 | 35,000,000 | 391.00 | 161.29 | 36 |
| WLD | 3,250,000 | 9,750,000 | 168.00 | 56.00 | 18 |

** Slippage figures in the table above are with respect to a trade size of USD 500 thousand **

## Update Endorsed Liquidator Parameters

Update the `maxLiquidationDelta` of and `maxPD` of the SOL perp market to 8.01 bp and 16.02 bp, respectively.

# Abstract
Below is a description of the parameter changes proposed in the SCCP:
- `skewScale` is the scaling factor of the relevant market in the underlying currency for computing PD and Funding Rates.
- `maxPD` and `maxLiquidationDelta`, described in [SIP-2095](https://sips.synthetix.io/sips/sip-2005/), are parameters that determine whether accounts flagged for liquidation require an endorsed account to confirm the liquidation. As a rule, the `maxPD` is configured to 2 * (offchain maker fee + offchain taker fee) while the `maxLiquidationDelta` is set to offchain maker + offchain taker fees.

# Motivation

The proposed parameter changes on skew scale aim at calibrating the incentive on arbitrageurs to arbitrage the skew by targeting an effective liquidity comfortably below liquidity available on centralized exchanges.

The update to `maxPD` and `maxLiquidationDelta` are proposed in this SCCP, following the change in maker fee on the SOL perp market in [SCCP-2106](https://sips.synthetix.io/sccp/sccp-2106/).


# Copyright

Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).


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