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+---
+sccp: 2030
+network: Optimism
+title: Update Perp Parameters
+author: Kaleb (@kaleb-keny)
+status: Vote_Pending
+created: 2023-07-31
+type: Governance
+---
+
+# Simple Summary
+
+This SCCP proposes to update the perp parameters as the below configuration:
+
+## Max Market Value
+
+| **Market** 	| **Current OI** 	| **Proposed OI** 	| **Current OI $** 	| **Proposed OI $** 	| **OI$ Delta** 	|
+|:----------:	|:--------------:	|:---------------:	|:----------------:	|:-----------------:	|:-------------:	|
+|    sETH    	|     20,000     	|      27,000     	|   $ 37,361,200   	|   $ 50,437,620    	| $ 13,076,420  	|
+|   sSTETH   	|      3,000     	|      1,500      	|   $ 5,586,378    	|    $ 2,793,189    	| $ (2,793,189) 	|
+|    sDOGE   	|   70,000,000   	|    50,000,000   	|   $ 5,523,987    	|    $ 3,945,705    	| $ (1,578,282) 	|
+|    sBNB    	|     40,000     	|      20,000     	|   $ 9,758,624    	|    $ 4,879,312    	| $ (4,879,312) 	|
+|    sCRV    	|    2,000,000   	|    3,000,000    	|   $ 1,279,621    	|    $ 1,919,431    	|   $ 639,810   	|
+|    sXRP    	|   10,000,000   	|    4,250,000    	|   $ 7,036,999    	|    $ 2,990,725    	| $ (4,046,275) 	|
+|    sLTC    	|     45,000     	|      32,000     	|   $ 4,223,915    	|    $ 3,003,673    	| $ (1,220,242) 	|
+
+## Skew Scale
+
+| **currency** 	| **Current Scale** 	| **Proposed Scale** 	|  **Delta**  	  |
+|:------------:	|:-----------------:	|:------------------:	|:-----------:	  |
+|     sBNB     	|      750,000      	|       850,000      	|   + 100,000   	|
+|     sXRP     	|    300,000,000    	|     500,000,000    	| + 200,000,000 	|
+|     sLTC     	|     1,650,000     	|      2,250,000     	|   + 600,000   	|
+|     sSOL     	|     6,000,000     	|      7,500,000     	|  + 1,500,000  	|
+|     sADA     	|    290,000,000    	|     400,000,000    	| + 110,000,000 	|
+|    sMATIC    	|    125,000,000    	|     200,000,000    	|  + 75,000,000 	|
+
+## offchain Maker Fee
+Increase the offchain maker fee on FTM and BCH back to 2 bp from 0 bp currently (undoing [SCCP-2019](https://sips.synthetix.io/sccp/sccp-2019/))
+
+## Max Funding Velocity
+
+Increase the `maxFundingVelocity` to 36 except for the following sSTETH, sINJ, sFLOKI, sPEPE, sTRX, sDOT, sATOM, sARB, sDOGE, sLINK, sAXS, sUNI, sLDO, sBLUR, sSHIB, sAVAX, sBNB, sCRV, sOP, sLTC, sAPT, sDYDX, sSOL, sSUI, sFIL, sADA, sAPE, sNEAR, sAAVE, sMATIC, sGMX, sFLOW, sETHBTC, sYFI, sMKR, sCOMP, sXMR, sMAV, sBCH, sRPL, sETC, sXRP and sFTM.
+Therefore the `maxFundingVelocity` on `sETH`, `sBTC`, forex and commodities markets would remain unchanged.
+
+# Abstract
+
+The parameters configurations description is as follows:
+- maker/taker offchain delayed orders pertain to fees charged with the pyth offchain route
+- maxMarketValue is the max market value of the relevant market in the underlying currency
+- 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 given a persistent skew
+
+# Motivation
+
+The main motivation is as follows:
+- Max Market Value was specified in order to meet market demand for more trading on ETH markets and to lower the available liqudity on market that have low historical open interest.
+- Skew Scale was updated in order to better allign the price impact with those observed in centralized exchanges
+- Funding rates have been observed to help balance out the skew during times of increased volatility hence the changes proposed should rollout this effect across all markets.
+- offchain maker fee are restated back to 2 bp on FTM and BCH, since funding rates have been observed to be better tools to control the skew during times of volatility. 
+
+# Copyright
+
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
+
+