SIP-410: Patch - Perps V3 Multicollateral
| Author | Kaleb, DB |
|---|---|
| Status | Draft |
| Type | Governance |
| Network | Arbitrum & Base |
| Implementor | TBD |
| Release | TBD |
Simple Summary
This SIP proposes a patch to the perps v3 multicollateral contracts, whereby the tolerance is updated from DEFAULT to ONE_MONTH when the credit capacity is evaluated in the perp order commit function.
Motivation
Recently Perps v3 was with published on arbitrum and base. However one finding that surfaced was a setting of DEFAULt imposed on the evaluation of credit capacity at order commit. The default being set to hourly, meaning perp orders require a price update on all 80 markets on an hourly basis. This configuration can be relaxed whereby the 1-month tolerance is specified.
In fact actively traded markets with large open interest will have more churn and will get the prices updated more accurately, hence the fix specified in this SIP is of limited in consequence from a risk point of view, given that large markets that have a greater impact on credit capacity utilization, will naturally have more frequent prices updates by trading. In addition, the credit capacity evaluation from LP's perspective remains unchanged.
Specification
The specification is a simple change outlined in this PR.
Test Cases
NA
Copyright
This SIP is licensed under CC0, waiving all copyright and related rights.