Release 0.34.2 brings along a much anticipated new feature. We’re enabling Liquidity Provisioning in testnet. Consider this a ‘sneak peak’ - there are a few rough edges we know of, but we wanted to get it in to everyone’s hands to start gathering feedback.
Liquidity Provision orders enable anyone on Vega to commit to maintaining a set of orders on the book for a particular market. In return, they will earn a fee for providing liquidity in active markets. Active markets are monitored by a new Liquidity Monitoring engine in the node, and markets that do not have enough liquidity commitments will enter in to a new Liquidity Seeking auction, which will last until sufficient liquidity commitments are provided.
In the next release market proposals will require a corresponding liquidity commitment.
This isn’t enabled yet, to give everyone time to adjust their scripts.
For a more thorough look at how to get started with Liquidity Provision on testnet, check out the Liquidity Provision section of our docs.
Please see the bottom of this post to see the steps for how you can get started and participate in the Vega Testnet
Release notes and commentary by @edd
Liquidity Commitments are now enabled in a near-final form. This allows any user on Vega to commit to providing liquidity for a specific market, and to earn a fee.
Most of the fixes and improvements in this release relate to enabling this functionality.
In the next release, a liquidity commitment will be required when proposing a new market.
#3302 - Add reference to LP in orders created by LP
#3183 - All orders from LP - including rejected orders - are now sent through the event bus
#3248 - Store and propagate bond penalty
#3266 - Add network parameters to control auction duration & extension
#3264 - Add Liquidity Provision ID to orders created by LP commitments
#3126 - Add transfer for bond slashing
#3281 - Update scripts to go 1.16.2
#3280 - Update to go 1.16.2
#3235 - Extend unit test coverage for products
#3219 - Remove liquidityFee network parameter
#3217 - Add an event bus event when a market closes
#3214 - Add arbitrary data signing wallet endpoint
#3316 - Add tests for traders closing their own position
#3270 - Feature test refactor: Add Liquidity Provision feature tests
#3289 - Feature test refactor: Remove unused steps
#3275 - Feature test refactor: Refactor order cancellation steps
#3230 - Feature test refactor: Refactor trader amends step
#3226 - Feature test refactor: Refactor features with invalid order specs
#3200 - Feature test refactor: Add step to end opening auction
#3201 - Feature test refactor: Add step to amend order by reference
#3204 - Feature test refactor: Add step to place pegged orders
#3207 - Feature test refactor: Add step to create Liquidity Provision
#3212 - Feature test refactor: Remove unused settlement price step
#3203 - Feature test refactor: Rework Submit Order step
#3251 - Feature test refactor: Split market declaration
#3314 - Feature test refactor: Apply naming convention to assertions
#3295 - Refactor governance engine tests
#3298 - Add order book caching
#3307 - Use UpdateNetworkParams to validate network parameter updates
#3308 - Add probability of trading
#3249 - GraphQL: LiquidityProvision is no longer missing from the EventBus union
#3253 - Verify all properties on oracle specs
#3224 - Check for wash trades when FOK orders uncross
#3257 - Order Status is now only Active when it is submitted to the book
#3285 - LP provisions are now properly stopped when a market is rejected
#3290 - Update Market Value Proxy at the end of each block
#3267 - Ensure Liquidity Auctions are not left if it would result in an empty book
#3286 - Reduce some log levels
#3263 - Fix incorrect context object in Liquidity Provisions
#3283 - Remove debug code
#3198 - chore: Add spell checking to build pipeline
#3303 - Reduce market depth updates when nothing changes
#3310 - Fees are no longer paid to inactive LPs
#3305 - Fix validation of governance proposal terms
#3311 - targetStake is now an unsigned integer
#3313 - Fix invalid account wrapping
Check out https://docs.testnet.vega.xyz for more information, visit https://testnet.vega.trading to dive straight into the Console, download the go-wallet or reach out to us on Discord if you need some hosted wallet details.
Thank you, please comment below if you’d like to give any feedback on the release.
Note: You can raise bugs for the software in the Vega Nolt