Create sccp-2032.md

content/sccp/sccp-2031.md

@@ -3,7 +3,7 @@ sccp: 2031
 network: Optimism
 title: Update Perp Parameters - Increase CRV Max Market Value
 author: Kaleb (@kaleb-keny)
-status: Vote_Pending
+status: Implemented
 created: 2023-07-31
 proposal: >-
   https://snapshot.org/#/snxgov.eth/proposal/0xcd78eda5d35439da8e5542d5cd5df080b55bfdb3cdfa8fd98927ce98a760eed7

content/sccp/sccp-2032.md

@@ -0,0 +1,68 @@
+---
+sccp: 2032
+network: Optimism
+title: Perp Parameters - WLD
+author: Kaleb (@kaleb-keny)
+status: Vote_Pending
+created: 2023-08-01
+proposal: >-
+  https://snapshot.org/#/snxgov.eth/proposal/0xa1a40fc2ffd81de6edc21ff25ec3cf8d3248f331ebb98f69ddda34b5fd32f1cf
+type: Governance
+---
+
+# Simple Summary
+
+This SCCP proposes to unpause the [WLD perp market](https://sips.synthetix.io/sips/sip-2028/) and set the parameters as per the below:
+- offchainMakerFees: 2 bp
+- offchainTakerFees: 10 bp
+- maxMarketValue: 650k ($1.5m)
+- liquidationBuffer: 150 bp
+- LiquidationPremiumMultiplier: 3
+- skewScale: 33 million
+- maxFundingVelocity: 3600%
+- offchainDelayedOrderMinAge: 2
+- offchainDelayedOrderMaxAge: 60
+- maxLeverage: 27.5
+- maxLiquidationDelta: maker+taker offchain fees
+- maxPD: maxLiquidationDelta * 2
+- dynamicFeeRounds: 1
+- offchainPriceDivergence: 2.5%
+- maxDynamicFeeRate: 10%
+- nextPriceConfirmWindow: 2
+- delayedOrderConfirmWindow: 120 seconds
+- minDelayTimeDelta: 60 seconds
+- maxDelayTimeDelta: 6000 seconds
+- taker & maker fees on delayed orders (not-offchain) and atomic orders: 30%
+
+# 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
+- liquidationBufferRatio and liquidationPremiumMultiplier are parameters that determine the safety buffer required for liquidations
+- minDelayTimeDelta is the minimum period after which delayed orders can be executed
+- maxDelayTimeDelta is the maximum period before which delayed orders can be executed
+- offchainDelayedOrderMinAge is the minimum delay before which offchain orders can be executed
+- offchainDelayedOrderMaxAge is the maximum delay after which offchain orders cannot be executed
+- maxFundingVelocity is the main parameter that allows to nudge funding rates
+- offchainPriceDivergence is the maximum allowable delta between chainlink and pyth prices
+- dynamicFeeRounds and maxDynamicFeeRate are set to the above specified parameters, via DirectIntegrationManager, effectively disabling dynamic fees on perp markets (due to legacy code base)
+
+Parameters for trading paths (atomic and delayed orders) which are set for deprecation but need to be specified:
+- makerFee/takerFee fees pertain to fees for atomic trades at chainlink price, which have been deprecated via high fees
+- maker/taker delayed fees pertain to fees for trades at the next chainlink price, which have been deprecated via high fees
+- nextPriceConfirmWindow is the window, in chainlink rounds, in which next price delayed orders can be triggered, a deprecated path for trading
+- delayedOrderConfirmWindow is the minimum number of seconds after which next price delayed orders can be triggered if no new chainlink rounds are available, a deprecated path for trading
+
+# Motivation
+
+The main motivation is to launch the worldcoin perp market.
+
+
+# Copyright
+
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).
+
+