VMP-37 - Create Hyperliquid Points / USDT (Futures Market)
This proposal creates a futures market for Hyperliquid Points to be settled using UMA oracle as set out in this research note: research/notes/points-markets-settlement.md at master · vegaprotocol/research · GitHub
Full JSON Proposal:
{
"batchProposalSubmission": {
"rationale": {
"description": "This proposal creates a Hyperliquid Points futures market as discussed in this forum post: https://community.vega.xyz/t/vmp-37-create-hyperliquid-points-usdt-futures-market/4460",
"title": "VMP-37 - Hyperliquid Points / USDT (Futures market)"
},
"terms": {
"closingTimestamp": "1710892800",
"changes": [
{
"enactmentTimestamp": "1710932400",
"newMarket": {
"changes": {
"linearSlippageFactor": "0.001",
"decimalPlaces": "4",
"positionDecimalPlaces": "0",
"instrument": {
"name": "Hyperliquid Points / USDT (Futures market)",
"code": "HLP/USDT.POINTS",
"future": {
"settlementAsset": "bf1e88d19db4b3ca0d1d5bdb73718a01686b18cf731ca26adedf3c8b83802bba",
"quoteName": "USDT",
"dataSourceSpecForSettlementData": {
"external": {
"ethOracle": {
"sourceChainId": "42161",
"address": "0x302461E6dBF45e59acb3BE9a9c84C0a997779612",
"abi": "[{\"type\":\"function\",\"name\":\"getData\",\"inputs\":[{\"name\":\"identifier\",\"type\":\"tuple\",\"internalType\":\"struct SettlementOracle.Identifier\",\"components\":[{\"name\":\"liveness\",\"type\":\"uint64\",\"internalType\":\"uint64\"},{\"name\":\"bondCurrency\",\"type\":\"address\",\"internalType\":\"contract IERC20\"},{\"name\":\"minimumBond\",\"type\":\"uint256\",\"internalType\":\"uint256\"},{\"name\":\"maximumBond\",\"type\":\"uint256\",\"internalType\":\"uint256\"},{\"name\":\"marketCode\",\"type\":\"string\",\"internalType\":\"string\"},{\"name\":\"quoteName\",\"type\":\"string\",\"internalType\":\"string\"},{\"name\":\"enactmentDate\",\"type\":\"string\",\"internalType\":\"string\"},{\"name\":\"ipfsLink\",\"type\":\"string\",\"internalType\":\"string\"}]}],\"outputs\":[{\"name\":\"\",\"type\":\"bool\",\"internalType\":\"bool\"},{\"name\":\"\",\"type\":\"uint256\",\"internalType\":\"uint256\"}],\"stateMutability\":\"nonpayable\"}]",
"method": "getData",
"args": [
{
"liveness": 28800, // 8 hours
"bondCurrency": "0xFF970A61A04b1cA14834A43f5dE4533eBDDB5CC8",
"minimumBond": 500000000,
"maximumBond": 100000000000,
"ipfsLink": "ipfs://bafybeiepzqdjoxwzeh2vzwi5c4473vddemqjihc26tbuu32vkasisk537i",
"marketCode": "HLP/USDT.POINTS",
"quoteName": "USDT",
"enactmentDate": "2024-03-20T11:00:00Z"
}
],
"requiredConfirmations": "64",
"trigger": {
"timeTrigger": {
"every": "600"
}
},
"filters": [
{
"key": {
"name": "resolved",
"type": "TYPE_BOOLEAN"
},
"conditions": [
{
"operator": "OPERATOR_EQUALS",
"value": "true"
}
]
},
{
"key": {
"name": "price",
"type": "TYPE_INTEGER",
"numberDecimalPlaces": "18"
},
"conditions": [
{
"operator": "OPERATOR_GREATER_THAN_OR_EQUAL",
"value": "0"
}
]
}
],
"normalisers": [
{
"name": "resolved",
"expression": "$[0]"
},
{
"name": "price",
"expression": "$[1]"
}
]
}
}
},
"dataSourceSpecForTradingTermination": {
"external": {
"ethOracle": {
"sourceChainId": "42161",
"address": "0x6d0b3a00265b8b4a1d22cf466c331014133ba614",
"abi": "[{\"type\":\"function\",\"name\":\"getData\",\"inputs\":[{\"name\":\"identifier\",\"type\":\"tuple\",\"internalType\":\"struct TerminationOracle.Identifier\",\"components\":[{\"name\":\"bondCurrency\",\"type\":\"address\",\"internalType\":\"contract IERC20\"},{\"name\":\"minimumBond\",\"type\":\"uint256\",\"internalType\":\"uint256\"},{\"name\":\"maximumBond\",\"type\":\"uint256\",\"internalType\":\"uint256\"},{\"name\":\"liveness\",\"type\":\"uint64\",\"internalType\":\"uint64\"},{\"name\":\"marketCode\",\"type\":\"string\",\"internalType\":\"string\"},{\"name\":\"quoteName\",\"type\":\"string\",\"internalType\":\"string\"},{\"name\":\"enactmentDate\",\"type\":\"string\",\"internalType\":\"string\"},{\"name\":\"ipfsLink\",\"type\":\"string\",\"internalType\":\"string\"},{\"name\":\"conditionalSettlementOracle\",\"type\":\"address\",\"internalType\":\"contract SettlementOracle\"}]}],\"outputs\":[{\"name\":\"\",\"type\":\"bool\",\"internalType\":\"bool\"},{\"name\":\"\",\"type\":\"uint256\",\"internalType\":\"uint256\"},{\"name\":\"\",\"type\":\"bool\",\"internalType\":\"bool\"}],\"stateMutability\":\"nonpayable\"}]",
"method": "getData",
"args": [
{
"liveness": 28800, // 8 hours
"bondCurrency": "0xFF970A61A04b1cA14834A43f5dE4533eBDDB5CC8",
"minimumBond": 500000000,
"maximumBond": 100000000000,
"ipfsLink": "ipfs://bafybeiepzqdjoxwzeh2vzwi5c4473vddemqjihc26tbuu32vkasisk537i",
"marketCode": "HLP/USDT.POINTS",
"quoteName": "USDT",
"enactmentDate": "2024-03-20T11:00:00Z",
"conditionalSettlementOracle": "0x302461E6dBF45e59acb3BE9a9c84C0a997779612"
}
],
"requiredConfirmations": "64",
"trigger": {
"timeTrigger": {
"every": "600"
}
},
"filters": [
{
"key": {
"name": "resolved",
"type": "TYPE_BOOLEAN"
},
"conditions": [
{
"operator": "OPERATOR_EQUALS",
"value": "true"
}
]
},
{
"key": {
"name": "terminated",
"type": "TYPE_BOOLEAN"
},
"conditions": [
{
"operator": "OPERATOR_EQUALS",
"value": "true"
}
]
}
],
"normalisers": [
{
"name": "resolved",
"expression": "$[0]"
},
{
"name": "terminated",
"expression": "$[2]"
}
]
}
}
},
"dataSourceSpecBinding": {
"settlementDataProperty": "price",
"tradingTerminationProperty": "terminated"
}
}
},
"metadata": [
"base:HLPOINT",
"quote:USDT",
"enactment:2024-03-20T11:00:00Z",
"settlement:fromOracle",
"class:fx/crypto",
"oracle:uma",
"sector:defi",
"oracleChain:arbitrum",
"domain:hyperliquid.xyz"
],
"priceMonitoringParameters": {
"triggers": [
{
"horizon": "120",
"probability": "0.9999999",
"auctionExtension": "60"
},
{
"horizon": "120",
"probability": "0.9999999",
"auctionExtension": "60"
},
{
"horizon": "120",
"probability": "0.9999999",
"auctionExtension": "60"
},
{
"horizon": "120",
"probability": "0.9999999",
"auctionExtension": "60"
},
{
"horizon": "120",
"probability": "0.9999999",
"auctionExtension": "60"
},
{
"horizon": "200",
"probability": "0.9999999",
"auctionExtension": "300"
},
{
"horizon": "200",
"probability": "0.9999999",
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},
{
"horizon": "200",
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"auctionExtension": "300"
},
{
"horizon": "200",
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"auctionExtension": "300"
},
{
"horizon": "200",
"probability": "0.9999999",
"auctionExtension": "300"
},
{
"horizon": "400",
"probability": "0.9999999",
"auctionExtension": "900"
},
{
"horizon": "400",
"probability": "0.9999999",
"auctionExtension": "900"
},
{
"horizon": "400",
"probability": "0.9999999",
"auctionExtension": "900"
},
{
"horizon": "400",
"probability": "0.9999999",
"auctionExtension": "900"
},
{
"horizon": "400",
"probability": "0.9999999",
"auctionExtension": "900"
},
{
"horizon": "400",
"probability": "0.9999999",
"auctionExtension": "900"
},
{
"horizon": "500",
"probability": "0.9999999",
"auctionExtension": "1800"
},
{
"horizon": "500",
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"auctionExtension": "1800"
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"horizon": "500",
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"auctionExtension": "1800"
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"horizon": "500",
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"auctionExtension": "1800"
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{
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{
"horizon": "500",
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},
{
"horizon": "500",
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"auctionExtension": "1800"
},
{
"horizon": "620",
"probability": "0.9999999",
"auctionExtension": "3600"
},
{
"horizon": "620",
"probability": "0.9999999",
"auctionExtension": "3600"
},
{
"horizon": "620",
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{
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{
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{
"horizon": "620",
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},
{
"horizon": "750",
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"auctionExtension": "7200"
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{
"horizon": "800",
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},
{
"horizon": "800",
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{
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{
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{
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{
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}
]
},
"logNormal": {
"tau": 0.0002281542323,
"riskAversionParameter": 0.01,
"params": {
"mu": 0,
"r": 0,
"sigma": 5.0
}
},
"liquiditySlaParameters": {
"priceRange": "0.2",
"commitmentMinTimeFraction": "0.5",
"performanceHysteresisEpochs": "1",
"slaCompetitionFactor": "0.8"
},
"liquidationStrategy": {
"disposalTimeStep": "5",
"disposalFraction": "0.1",
"fullDisposalSize": "10000",
"maxFractionConsumed": "0.1"
},
"liquidityFeeSettings": {
"method": "METHOD_MARGINAL_COST"
},
"liquidityMonitoringParameters": {
"targetStakeParameters": {
"timeWindow": "3600",
"scalingFactor": "0.05"
}
},
"markPriceConfiguration": {
"compositePriceType": "COMPOSITE_PRICE_TYPE_LAST_TRADE"
}
}
}
}
]
}
}
}
