VMP-25 - Create DYDX/USDT Perp
This proposal creates a DYDX/USDT perpetual market, settled in USDT, with the following characteristics:
- Max leverage of 50x
- Settlement oracle taken from Uniswap V3 pool using 5 minute TWAP
- 8 hour funding interval
- Lot size = 0.1
- Tick size = 0.001
Full Proposal JSON:
{
"terms": {
"closingTimestamp": "1704495600",
"enactmentTimestamp": "1704499200",
"newMarket": {
"changes": {
"instrument": {
"name": "DYDX/USDT-Perp",
"code": "DYDX/USDT-PERP",
"perpetual": {
"settlementAsset": "bf1e88d19db4b3ca0d1d5bdb73718a01686b18cf731ca26adedf3c8b83802bba",
"quoteName": "USDT",
"marginFundingFactor": "0.9",
"interestRate": "0.1095",
"clampLowerBound": "-0.0005",
"clampUpperBound": "0.0005",
"dataSourceSpecForSettlementSchedule": {
"internal": {
"timeTrigger": {
"conditions": [
{
"operator": "OPERATOR_GREATER_THAN_OR_EQUAL",
"value": "0"
}
],
"triggers": [
{
"initial": "1704499200",
"every": "28800"
}
]
}
}
},
"dataSourceSpecForSettlementData": {
"external": {
"ethOracle": {
"address": "0x9eb2EBD260D82410592758B3091F74977E4A404c",
"abi": "[{\"inputs\":[{\"internalType\":\"contract IUniswapV3Pool\",\"name\":\"pool\",\"type\":\"address\"},{\"internalType\":\"uint32\",\"name\":\"twapInterval\",\"type\":\"uint32\"}],\"name\":\"priceFromEthPoolInUsdt\",\"outputs\":[{\"internalType\":\"uint256\",\"name\":\"\",\"type\":\"uint256\"}],\"stateMutability\":\"view\",\"type\":\"function\"}]",
"method": "priceFromEthPoolInUsdt",
"args": [
{
"stringValue": "0xd8de6af55f618a7bc69835d55ddc6582220c36c0"
},
{
"numberValue": 300
}
],
"trigger": {
"timeTrigger": {
"initial": "1704499200",
"every": "300"
}
},
"requiredConfirmations": "3",
"filters": [
{
"key": {
"name": "dydx.price",
"type": "TYPE_INTEGER",
"numberDecimalPlaces": "18"
},
"conditions": [
{
"operator": "OPERATOR_GREATER_THAN",
"value": "0"
}
]
}
],
"normalisers": [
{
"name": "dydx.price",
"expression": "$[0]"
}
]
}
}
},
"dataSourceSpecBinding": {
"settlementDataProperty": "dydx.price",
"settlementScheduleProperty": "vegaprotocol.builtin.timetrigger"
}
}
},
"decimalPlaces": "3",
"metadata": [
"base:DYDX",
"quote:USDT",
"class:fx/crypto",
"perpetual",
"sector:defi",
"enactment:2024-01-06T00:00:00Z"
],
"priceMonitoringParameters": {
"triggers": [
{
"horizon": "4320",
"probability": "0.9999999",
"auctionExtension": "300"
},
{
"horizon": "1440",
"probability": "0.9999999",
"auctionExtension": "180"
},
{
"horizon": "360",
"probability": "0.9999999",
"auctionExtension": "120"
}
]
},
"liquidityMonitoringParameters": {
"targetStakeParameters": {
"timeWindow": "3600",
"scalingFactor": 0.05
},
"triggeringRatio": "0.9",
"auctionExtension": "1"
},
"logNormal": {
"riskAversionParameter": 0.000001,
"tau": 0.0000071,
"params": {
"mu": 0,
"r": 0,
"sigma": 1.5
}
},
"positionDecimalPlaces": "1",
"linearSlippageFactor": "0.001",
"quadraticSlippageFactor": "0",
"liquiditySlaParameters": {
"priceRange": "0.03",
"commitmentMinTimeFraction": "0.85",
"performanceHysteresisEpochs": "1",
"slaCompetitionFactor": "0.5"
}
}
}
},
"rationale": {
"description": "## Summary\n\nThis proposal requests to list DYDX/USDT Perpetual as a market with USDT as a settlement asset",
"title": "VMP-25 Create market DYDX/USDT Perpetual"
},
"requiredParticipation": "0.01",
"requiredMajority": "0.66"
}