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Replace ELS with internal LP volume asset #2268

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davidsiska-vega opened this issue May 13, 2024 · 0 comments · Fixed by #2299
Closed

Replace ELS with internal LP volume asset #2268

davidsiska-vega opened this issue May 13, 2024 · 0 comments · Fixed by #2299
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@davidsiska-vega
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davidsiska-vega commented May 13, 2024

Rip out ELS.

Instead each market will instantiate a new asset, uniquely tied to the market, called something like e.g. BTCUSD-Perp-LP (blobs / points/ shares / drops). Successor market doesn't create a new LP token asset and just uses the old one (needs some decimals worry).

  • at the end of each epoch one token of the LP asset is minted for each unit of volume traded during the epoch and distributed pro-rata amongst LPs based on their SLA scores for the epoch.
  • during the epoch the relative ownership of the LP tokens for the market amongst LPs is used as a weight instead of the ELS.
  • have per-epoch inflation cap.
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