VMP-41 - Create ARB/USDT Perpetual Market
This proposal requests to create an Arbitrum (ARB) Perpetual Market settled in USDT.
Arbitrum is an Ethereum based Layer 2 with a large market cap and strong daily trading volume.
Full Proposal JSON:
{
"proposalSubmission": {
"rationale": {
"title": "VMP-41 - Create ARB/USDT Perpetual Market",
"description": "This proposal requests to create an Arbitrum (ARB) Perpetual Market settled in USDT. Forum discussion can be found [here](https://community.vega.xyz/t/vmp-41-create-arb-usdt-perpetual-market/4469)."
},
"terms": {
"newMarket": {
"changes": {
"linearSlippageFactor": "0.001",
"quadraticSlippageFactor": "0",
"decimalPlaces": "5",
"positionDecimalPlaces": "-2",
"instrument": {
"name": "Arbitrum / Tether USD (Perpetual)",
"code": "ARB/USDT",
"perpetual": {
"settlementAsset": "bf1e88d19db4b3ca0d1d5bdb73718a01686b18cf731ca26adedf3c8b83802bba",
"quoteName": "USDT",
"marginFundingFactor": "0.9",
"interestRate": "0.1095",
"fundingRateScalingFactor": "1",
"fundingRateLowerBound": "-0.001",
"fundingRateUpperBound": "0.001",
"clampLowerBound": "-0.0005",
"clampUpperBound": "0.0005",
"internalCompositePriceConfiguration": {
"decayWeight": "1",
"decayPower": "1",
"cashAmount": "50000000",
"sourceWeights": [
"0",
"0.999",
"0.001",
"0"
],
"sourceStalenessTolerance": [
"1m0s",
"1m0s",
"10m0s",
"10m0s"
],
"compositePriceType": "COMPOSITE_PRICE_TYPE_WEIGHTED",
"dataSourcesSpec": [
{
"external": {
"ethOracle": {
"address": "0x719abd606155442c21b7d561426d42bd0e40a776",
"abi": "[{\"inputs\": [{\"internalType\": \"bytes32\", \"name\": \"id\", \"type\": \"bytes32\"}], \"name\": \"getPrice\", \"outputs\": [{\"internalType\": \"int256\", \"name\": \"\", \"type\": \"int256\" }], \"stateMutability\": \"view\", \"type\": \"function\"}]",
"method": "getPrice",
"args": [
"0x3fa4252848f9f0a1480be62745a4629d9eb1322aebab8a791e344b3b9c1adcf5"
],
"trigger": {
"timeTrigger": {
"every": "60"
}
},
"requiredConfirmations": "3",
"filters": [
{
"key": {
"name": "arb.price",
"type": "TYPE_INTEGER",
"numberDecimalPlaces": "18"
},
"conditions": [
{
"operator": "OPERATOR_GREATER_THAN",
"value": "0"
}
]
}
],
"normalisers": [
{
"name": "arb.price",
"expression": "$[0]"
}
],
"sourceChainId": "100"
}
}
}
],
"dataSourcesSpecBinding": [
{
"priceSourceProperty": "arb.price"
}
]
},
"dataSourceSpecForSettlementData": {
"external": {
"ethOracle": {
"sourceChainId": "100",
"address": "0x719abd606155442c21b7d561426d42bd0e40a776",
"abi": "[{\"inputs\": [{\"internalType\": \"bytes32\", \"name\": \"id\", \"type\": \"bytes32\"}], \"name\": \"getPrice\", \"outputs\": [{\"internalType\": \"int256\", \"name\": \"\", \"type\": \"int256\" }], \"stateMutability\": \"view\", \"type\": \"function\"}]",
"method": "getPrice",
"args":[
"0x3fa4252848f9f0a1480be62745a4629d9eb1322aebab8a791e344b3b9c1adcf5"
],
"normalisers": [
{
"name": "arb.price",
"expression": "$[0]"
}
],
"requiredConfirmations": "3",
"trigger": {
"timeTrigger": {
"every": "60"
}
},
"filters": [
{
"key": {
"name": "arb.price",
"type": "TYPE_INTEGER",
"numberDecimalPlaces": "18"
},
"conditions": [
{
"operator": "OPERATOR_GREATER_THAN",
"value": "0"
}
]
}
]
}
}
},
"dataSourceSpecForSettlementSchedule": {
"internal": {
"timeTrigger": {
"conditions": [
{
"operator": "OPERATOR_GREATER_THAN",
"value": "0"
}
],
"triggers": [
{
"every": "28800"
}
]
}
}
},
"dataSourceSpecBinding": {
"settlementDataProperty": "arb.price",
"settlementScheduleProperty": "vegaprotocol.builtin.timetrigger"
}
}
},
"metadata": [
"base:ARB",
"quote:USDT",
"oracle:pyth",
"oracleChain:gnosis",
"class:fx/crypto",
"perpetual",
"sector:defi",
"enactment:2024-02-04T15:00:00Z ****TODO*****"
],
"priceMonitoringParameters": {
"triggers": [
{
"horizon": "21600",
"probability": "0.9999999",
"auctionExtension": "86400"
},
{
"horizon": "4320",
"probability": "0.9999999",
"auctionExtension": "3600"
},
{
"horizon": "1440",
"probability": "0.9999999",
"auctionExtension": "1800"
},
{
"horizon": "360",
"probability": "0.9999999",
"auctionExtension": "300"
}
]
},
"logNormal": {
"tau": 0.0000071,
"riskAversionParameter": 0.000001,
"params": {
"mu": 0,
"r": 0,
"sigma": 1.5
}
},
"liquiditySlaParameters": {
"priceRange": "0.005",
"commitmentMinTimeFraction": "0.5",
"performanceHysteresisEpochs": "0",
"slaCompetitionFactor": "1"
},
"liquidationStrategy": {
"disposalTimeStep": "1",
"disposalFraction": "1",
"fullDisposalSize": "1000000",
"maxFractionConsumed": "0.1"
},
"liquidityFeeSettings": {
"method": "METHOD_MARGINAL_COST"
},
"liquidityMonitoringParameters": {
"targetStakeParameters": {
"timeWindow": "3600",
"scalingFactor": "0.05"
},
"triggeringRatio": "0.9",
"auctionExtension": "1"
},
"markPriceConfiguration": {
"decayWeight": "1",
"decayPower": "1",
"cashAmount": "0",
"sourceWeights": [
"0",
"0",
"1",
"0"
],
"sourceStalenessTolerance": [
"1m0s",
"1m0s",
"1m0s",
"1m0s"
],
"compositePriceType": "COMPOSITE_PRICE_TYPE_WEIGHTED",
"dataSourcesSpec": [
{
"external": {
"ethOracle": {
"sourceChainId": "100",
"address": "0x719abd606155442c21b7d561426d42bd0e40a776",
"abi": "[{\"inputs\": [{\"internalType\": \"bytes32\", \"name\": \"id\", \"type\": \"bytes32\"}], \"name\": \"getPrice\", \"outputs\": [{\"internalType\": \"int256\", \"name\": \"\", \"type\": \"int256\" }], \"stateMutability\": \"view\", \"type\": \"function\"}]",
"method": "getPrice",
"args":[
"0x3fa4252848f9f0a1480be62745a4629d9eb1322aebab8a791e344b3b9c1adcf5"
],
"normalisers": [
{
"name": "arb.price",
"expression": "$[0]"
}
],
"requiredConfirmations": "3",
"trigger": {
"timeTrigger": {
"every": "60"
}
},
"filters": [
{
"key": {
"name": "arb.price",
"type": "TYPE_INTEGER",
"numberDecimalPlaces": "18"
},
"conditions": [
{
"operator": "OPERATOR_GREATER_THAN",
"value": "0"
}
]
}
]
}
}
}
],
"dataSourcesSpecBinding": [
{
"priceSourceProperty": "arb.price"
}
]
},
"tickSize": "100"
}
},
"closingTimestamp": **TODO**,
"enactmentTimestamp": **TODO**
}
}
}