VMP - 38 - Increase Eigenlayer Points Futures Market Leverage Factor
Currently, the Eigenlayer Points / USDT (Futures) market has a max leverage of ~1.5x. This does not really provide a competitive advantage over other points menus and requires users to use majority of their collateral to enter a position.
I’m proposing to increase the Eigenlayer Points / USDT (Futures) market leverage factor to achieve an effective max leverage of ~5x long and ~4.5x short. This provides a significantly more capital-efficient venue for users to trade points markets.
Full Proposal JSON:
{
"rationale": {
"title": "VMP-38 - Increase Eigenlayer Points market leverage factor",
"description": "This proposal requests to increase the Eigenlayer Points / USDT (Futures) market leverage factor"
},
"terms": {
"closingTimestamp": "1710892800",
"enactmentTimestamp": "1710932400"
"updateMarket": {
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"changes": {
"linearSlippageFactor": "0.001",
"instrument": {
"code": "EGLP/USDT.POINTS",
"future": {
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"address": "0x302461E6dBF45e59acb3BE9a9c84C0a997779612",
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"method": "getData",
"args": [
{
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"bondCurrency": "0xFF970A61A04b1cA14834A43f5dE4533eBDDB5CC8",
"minimumBond": 500000000,
"maximumBond": 100000000000,
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"marketCode": "EGLP/USDT.POINTS",
"quoteName": "USDT",
"enactmentDate": "2024-03-12T11:00:00Z"
}
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"method": "getData",
"args": [
{
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"bondCurrency": "0xFF970A61A04b1cA14834A43f5dE4533eBDDB5CC8",
"minimumBond": 500000000,
"maximumBond": 100000000000,
"ipfsLink": "ipfs://bafybeiazlsl2ilitnh4p3fm7hsem73qsf5bk5l24in2zlso2gtr5t22eai",
"marketCode": "EGLP/USDT.POINTS",
"quoteName": "USDT",
"enactmentDate": "2024-03-12T11:00:00Z",
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"type": "TYPE_BOOLEAN"
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{
"key": {
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"tradingTerminationProperty": "terminated"
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},
"metadata": [
"base:EGLPOINT",
"quote:USDT",
"enactment:2024-03-12T11:00:00Z",
"settlement:fromOracle",
"class:fx/crypto",
"oracle:uma",
"sector:defi",
"oracleChain:arbitrum",
"domain:eigenlayer.xyz"
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}