VMP-48 Migrate minor market to use USDT arbitrum as settlement asset

VMP-48 Migrate minor market to use USDT arbitrum as settlement asset

In order to get the discussion started in this thread moving (Upcoming protocol release and Arbitrum asset bridge), this is an implementation of the migration to use USDT arbitrum as a settlement asset for all minor alt coins markets existing already on the vega network.

This is the exhaustive list of markets concerned by this proposal:

  • SUI/USDT
  • LDO/USDT
  • ARB/USDT
  • TIA/USDT
  • SNX/USDT
  • INJ/USDT

I’m proposing to implement this proposal in two parts.

The first part will suspend all existing market, and create the new market in a week from now (enactment on wednesday 19th of June). This will some time for the market makers and the community to both review this proposal, and get their collateral ready to support the new markets with the new settlement asset, this will also prevent fragmenting liquidity on vega by having two similar markets running at the same time with different settlement asset.

The second part will be submitted as soon as the old market are suspended, and will settle those market with the price of the asset at the exact time the markets were suspended.

This is the proposal for the first part:

{
  "batchProposalSubmission": {
    "rationale": {
      "title": "VMP-48 part 1 minor coins markets migrations to ethereum USDT",
      "description": "This proposposal implement the migration of the market from using USDT ethereum as settlement asset to use USDT arbitrum as described in the following forum post "
    },
    "terms": {
      "closingTimestamp": "1718787600",
      "changes": [
        {
          "enactmentTimestamp": "1718787600",
          "updateMarketState": {
            "changes": {
              "marketId": "b75bd35365115c79e95d50bccc4593a52639a59d5b7adaeecd5ad593edcf17b5",
              "updateType": "MARKET_STATE_UPDATE_TYPE_SUSPEND"
            }
          }
        },
        {
          "enactmentTimestamp": "1718874000",
          "newMarket": {
            "changes": {
              "tickSize": "100",
              "decimalPlaces": "6",
              "positionDecimalPlaces": "-1",
              "instrument": {
                "name": "Sui / Tether USD (Perpetual)",
                "code": "SUI/USDT",
                "perpetual": {
                  "settlementAsset": "2a1f29de786c49d7d4234410bf2e7196a6d173730288ffe44b1f7e282efb92b1",
                  "quoteName": "USDT",
                  "marginFundingFactor": "0.9",
                  "interestRate": "0.1095",
                  "clampLowerBound": "-0.0005",
                  "clampUpperBound": "0.0005",
                  "fundingRateScalingFactor": "1",
                  "fundingRateLowerBound": "-0.001",
                  "fundingRateUpperBound": "0.001",
                  "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": [
                              "0x23d7315113f5b1d3ba7a83604c44b94d79f4fd69af77f804fc7f920a6dc65744"
                            ],
                            "trigger": {
                              "timeTrigger": {
                                "every": "60"
                              }
                            },
                            "requiredConfirmations": "3",
                            "filters": [
                              {
                                "key": {
                                  "name": "sui.price",
                                  "type": "TYPE_INTEGER",
                                  "numberDecimalPlaces": "18"
                                },
                                "conditions": [
                                  {
                                    "operator": "OPERATOR_GREATER_THAN",
                                    "value": "0"
                                  }
                                ]
                              }
                            ],
                            "normalisers": [
                              {
                                "name": "sui.price",
                                "expression": "$[0]"
                              }
                            ],
                            "sourceChainId": "100"
                          }
                        }
                      }
                    ],
                    "dataSourcesSpecBinding": [
                      {
                        "priceSourceProperty": "sui.price"
                      }
                    ]
                  },
                  "dataSourceSpecForSettlementSchedule": {
                    "internal": {
                      "timeTrigger": {
                        "conditions": [
                          {
                            "operator": "OPERATOR_GREATER_THAN",
                            "value": "0"
                          }
                        ],
                        "triggers": [
                          {
                            "every": "28800"
                          }
                        ]
                      }
                    }
                  },
                  "dataSourceSpecForSettlementData": {
                    "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": [
                          "0x23d7315113f5b1d3ba7a83604c44b94d79f4fd69af77f804fc7f920a6dc65744"
                        ],
                        "trigger": {
                          "timeTrigger": {
                            "every": "60"
                          }
                        },
                        "requiredConfirmations": "3",
                        "filters": [
                          {
                            "key": {
                              "name": "sui.price",
                              "type": "TYPE_INTEGER",
                              "numberDecimalPlaces": "18"
                            },
                            "conditions": [
                              {
                                "operator": "OPERATOR_GREATER_THAN",
                                "value": "0"
                              }
                            ]
                          }
                        ],
                        "normalisers": [
                          {
                            "name": "sui.price",
                            "expression": "$[0]"
                          }
                        ],
                        "sourceChainId": "100"
                      }
                    }
                  },
                  "dataSourceSpecBinding": {
                    "settlementDataProperty": "sui.price",
                    "settlementScheduleProperty": "vegaprotocol.builtin.timetrigger"
                  }
                }
              },
              "metadata": [
                "base:SUI",
                "quote:USDT",
                "oracle:pyth",
                "oracleChain:gnosis",
                "class:fx/crypto",
                "perpetual",
                "sector:defi",
                "enactment:2024-06-20T09:00:00Z"
              ],
              "priceMonitoringParameters": {
                "triggers": [
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
                    "auctionExtension": "900"
                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
                    "auctionExtension": "900"
                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
                    "auctionExtension": "900"
                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
                    "auctionExtension": "900"
                  },
                  {
                    "horizon": "1440",
                    "probability": "0.9999999",
                    "auctionExtension": "450"
                  },
                  {
                    "horizon": "1440",
                    "probability": "0.9999999",
                    "auctionExtension": "450"
                  },
                  {
                    "horizon": "1440",
                    "probability": "0.9999999",
                    "auctionExtension": "450"
                  },
                  {
                    "horizon": "1440",
                    "probability": "0.9999999",
                    "auctionExtension": "450"
                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  }
                ]
              },
              "liquidityMonitoringParameters": {
                "targetStakeParameters": {
                  "timeWindow": "3600",
                  "scalingFactor": 0.05
                },
                "triggeringRatio": "",
                "auctionExtension": "0"
              },
              "linearSlippageFactor": "0.001",
              "liquiditySlaParameters": {
                "priceRange": "0.005",
                "commitmentMinTimeFraction": "0.5",
                "performanceHysteresisEpochs": "0",
                "slaCompetitionFactor": "1"
              },
              "liquidityFeeSettings": {
                "method": "METHOD_CONSTANT",
                "feeConstant": "0.0001"
              },
              "liquidationStrategy": {
                "disposalTimeStep": "1",
                "disposalFraction": "1",
                "fullDisposalSize": "1000000",
                "maxFractionConsumed": "0.1",
                "disposalSlippageRange": "0.005"
              },
              "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": {
                        "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": [
                          "0x23d7315113f5b1d3ba7a83604c44b94d79f4fd69af77f804fc7f920a6dc65744"
                        ],
                        "trigger": {
                          "timeTrigger": {
                            "every": "60"
                          }
                        },
                        "requiredConfirmations": "3",
                        "filters": [
                          {
                            "key": {
                              "name": "sui.price",
                              "type": "TYPE_INTEGER",
                              "numberDecimalPlaces": "18"
                            },
                            "conditions": [
                              {
                                "operator": "OPERATOR_GREATER_THAN",
                                "value": "0"
                              }
                            ]
                          }
                        ],
                        "normalisers": [
                          {
                            "name": "sui.price",
                            "expression": "$[0]"
                          }
                        ],
                        "sourceChainId": "100"
                      }
                    }
                  }
                ],
                "dataSourcesSpecBinding": [
                  {
                    "priceSourceProperty": "sui.price"
                  }
                ]
              },
              "logNormal": {
                "riskAversionParameter": 0.000001,
                "tau": 0.0000071,
                "params": {
                  "mu": 0,
                  "r": 0,
                  "sigma": 1.5
                }
              }
            }
          }
        },
        {
          "enactmentTimestamp": "1718787600",
          "updateMarketState": {
            "changes": {
              "marketId": "cd30cada6e89f64c1e5b848e40c345e6e1811d1576685af43227855f146c7c84",
              "updateType": "MARKET_STATE_UPDATE_TYPE_SUSPEND"
            }
          }
        },
        {
          "enactmentTimestamp": "1718874000",
          "newMarket": {
            "changes": {
              "tickSize": "100",
              "decimalPlaces": "5",
              "positionDecimalPlaces": "0",
              "instrument": {
                "name": "Celestia / Tether USD (Perpetual)",
                "code": "TIA/USDT",
                "perpetual": {
                  "settlementAsset": "2a1f29de786c49d7d4234410bf2e7196a6d173730288ffe44b1f7e282efb92b1",
                  "quoteName": "USDT",
                  "marginFundingFactor": "0.9",
                  "interestRate": "0.1095",
                  "clampLowerBound": "-0.0005",
                  "clampUpperBound": "0.0005",
                  "fundingRateScalingFactor": "1",
                  "fundingRateLowerBound": "-0.001",
                  "fundingRateUpperBound": "0.001",
                  "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": [
                              "0x09f7c1d7dfbb7df2b8fe3d3d87ee94a2259d212da4f30c1f0540d066dfa44723"
                            ],
                            "trigger": {
                              "timeTrigger": {
                                "every": "60"
                              }
                            },
                            "requiredConfirmations": "3",
                            "filters": [
                              {
                                "key": {
                                  "name": "tia.price",
                                  "type": "TYPE_INTEGER",
                                  "numberDecimalPlaces": "18"
                                },
                                "conditions": [
                                  {
                                    "operator": "OPERATOR_GREATER_THAN",
                                    "value": "0"
                                  }
                                ]
                              }
                            ],
                            "normalisers": [
                              {
                                "name": "tia.price",
                                "expression": "$[0]"
                              }
                            ],
                            "sourceChainId": "100"
                          }
                        }
                      }
                    ],
                    "dataSourcesSpecBinding": [
                      {
                        "priceSourceProperty": "tia.price"
                      }
                    ]
                  },
                  "dataSourceSpecForSettlementSchedule": {
                    "internal": {
                      "timeTrigger": {
                        "conditions": [
                          {
                            "operator": "OPERATOR_GREATER_THAN",
                            "value": "0"
                          }
                        ],
                        "triggers": [
                          {
                            "every": "28800"
                          }
                        ]
                      }
                    }
                  },
                  "dataSourceSpecForSettlementData": {
                    "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": [
                          "0x09f7c1d7dfbb7df2b8fe3d3d87ee94a2259d212da4f30c1f0540d066dfa44723"
                        ],
                        "trigger": {
                          "timeTrigger": {
                            "every": "60"
                          }
                        },
                        "requiredConfirmations": "3",
                        "filters": [
                          {
                            "key": {
                              "name": "tia.price",
                              "type": "TYPE_INTEGER",
                              "numberDecimalPlaces": "18"
                            },
                            "conditions": [
                              {
                                "operator": "OPERATOR_GREATER_THAN",
                                "value": "0"
                              }
                            ]
                          }
                        ],
                        "normalisers": [
                          {
                            "name": "tia.price",
                            "expression": "$[0]"
                          }
                        ],
                        "sourceChainId": "100"
                      }
                    }
                  },
                  "dataSourceSpecBinding": {
                    "settlementDataProperty": "tia.price",
                    "settlementScheduleProperty": "vegaprotocol.builtin.timetrigger"
                  }
                }
              },
              "metadata": [
                "base:TIA",
                "quote:USDT",
                "oracle:pyth",
                "oracleChain:gnosis",
                "class:fx/crypto",
                "perpetual",
                "sector:defi",
                "enactment:2024-06-20T09:00:00Z"
              ],
              "priceMonitoringParameters": {
                "triggers": [
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
                    "auctionExtension": "900"
                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
                    "auctionExtension": "900"
                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
                    "auctionExtension": "900"
                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
                    "auctionExtension": "900"
                  },
                  {
                    "horizon": "1440",
                    "probability": "0.9999999",
                    "auctionExtension": "450"
                  },
                  {
                    "horizon": "1440",
                    "probability": "0.9999999",
                    "auctionExtension": "450"
                  },
                  {
                    "horizon": "1440",
                    "probability": "0.9999999",
                    "auctionExtension": "450"
                  },
                  {
                    "horizon": "1440",
                    "probability": "0.9999999",
                    "auctionExtension": "450"
                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  }
                ]
              },
              "liquidityMonitoringParameters": {
                "targetStakeParameters": {
                  "timeWindow": "3600",
                  "scalingFactor": 0.05
                },
                "triggeringRatio": "",
                "auctionExtension": "0"
              },
              "linearSlippageFactor": "0.001",
              "liquiditySlaParameters": {
                "priceRange": "0.005",
                "commitmentMinTimeFraction": "0.5",
                "performanceHysteresisEpochs": "0",
                "slaCompetitionFactor": "1"
              },
              "liquidityFeeSettings": {
                "method": "METHOD_CONSTANT",
                "feeConstant": "0.0001"
              },
              "liquidationStrategy": {
                "disposalTimeStep": "1",
                "disposalFraction": "1",
                "fullDisposalSize": "1000000",
                "maxFractionConsumed": "0.1",
                "disposalSlippageRange": "0.005"
              },
              "markPriceConfiguration": {
                "decayWeight": "1",
                "decayPower": "1",
                "cashAmount": "0",
                "sourceWeights": [
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                  "0",
                  "1",
                  "0"
                ],
                "sourceStalenessTolerance": [
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                  "1m0s",
                  "1m0s",
                  "1m0s"
                ],
                "compositePriceType": "COMPOSITE_PRICE_TYPE_WEIGHTED",
                "dataSourcesSpec": [
                  {
                    "external": {
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                        "abi": "[{\"inputs\": [{\"internalType\": \"bytes32\", \"name\": \"id\", \"type\": \"bytes32\"}], \"name\": \"getPrice\", \"outputs\": [{\"internalType\": \"int256\", \"name\": \"\", \"type\": \"int256\" }], \"stateMutability\": \"view\", \"type\": \"function\"}]",
                        "method": "getPrice",
                        "args": [
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                        ],
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                            "every": "60"
                          }
                        },
                        "requiredConfirmations": "3",
                        "filters": [
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                            "key": {
                              "name": "tia.price",
                              "type": "TYPE_INTEGER",
                              "numberDecimalPlaces": "18"
                            },
                            "conditions": [
                              {
                                "operator": "OPERATOR_GREATER_THAN",
                                "value": "0"
                              }
                            ]
                          }
                        ],
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                            "name": "tia.price",
                            "expression": "$[0]"
                          }
                        ],
                        "sourceChainId": "100"
                      }
                    }
                  }
                ],
                "dataSourcesSpecBinding": [
                  {
                    "priceSourceProperty": "tia.price"
                  }
                ]
              },
              "logNormal": {
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                "tau": 0.0000071,
                "params": {
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                  "r": 0,
                  "sigma": 1.5
                }
              }
            }
          }
        },
        {
          "enactmentTimestamp": "1718787600",
          "updateMarketState": {
            "changes": {
              "marketId": "b0ef037ff334cb83f80897b92ce197b440e27af47e671cd59933595e942abfc9",
              "updateType": "MARKET_STATE_UPDATE_TYPE_SUSPEND"
            }
          }
        },
        {
          "enactmentTimestamp": "1718874000",
          "newMarket": {
            "changes": {
              "tickSize": "1",
              "decimalPlaces": "3",
              "positionDecimalPlaces": "1",
              "instrument": {
                "name": "Injective / Tether USD (Perpetual)",
                "code": "INJ/USDT",
                "perpetual": {
                  "settlementAsset": "2a1f29de786c49d7d4234410bf2e7196a6d173730288ffe44b1f7e282efb92b1",
                  "quoteName": "USDT",
                  "marginFundingFactor": "0.9",
                  "interestRate": "0.1095",
                  "clampLowerBound": "-0.0005",
                  "clampUpperBound": "0.0005",
                  "fundingRateScalingFactor": "1",
                  "fundingRateLowerBound": "-0.001",
                  "fundingRateUpperBound": "0.001",
                  "internalCompositePriceConfiguration": {
                    "decayWeight": "1",
                    "decayPower": "1",
                    "cashAmount": "50000000",
                    "sourceWeights": [
                      "0",
                      "0.999",
                      "0.001",
                      "0"
                    ],
                    "sourceStalenessTolerance": [
                      "1m0s",
                      "1m0s",
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                  },
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              },
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              },
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                "fullDisposalSize": "1000000",
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                "disposalSlippageRange": "0.005"
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                        ],
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                ],
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              }
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          }
        },
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            }
          }
        },
        {
          "enactmentTimestamp": "1718874000",
          "newMarket": {
            "changes": {
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                  "interestRate": "0.1095",
                  "clampLowerBound": "-0.0005",
                  "clampUpperBound": "0.0005",
                  "fundingRateScalingFactor": "1",
                  "fundingRateLowerBound": "-0.001",
                  "fundingRateUpperBound": "0.001",
                  "internalCompositePriceConfiguration": {
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                    ],
                    "sourceStalenessTolerance": [
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                      "1m0s",
                      "10m0s",
                      "10m0s"
                    ],
                    "compositePriceType": "COMPOSITE_PRICE_TYPE_WEIGHTED",
                    "dataSourcesSpec": [
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                            "method": "getPrice",
                            "args": [
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                            },
                            "requiredConfirmations": "3",
                            "filters": [
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                                  "numberDecimalPlaces": "18"
                                },
                                "conditions": [
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                                  }
                                ]
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                            ],
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                                "name": "arb.price",
                                "expression": "$[0]"
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                            ],
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                    ],
                    "dataSourcesSpecBinding": [
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                        "priceSourceProperty": "arb.price"
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                    ]
                  },
                  "dataSourceSpecForSettlementSchedule": {
                    "internal": {
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                          }
                        ],
                        "triggers": [
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                            "every": "28800"
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                        ]
                      }
                    }
                  },
                  "dataSourceSpecForSettlementData": {
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                        "method": "getPrice",
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                          "timeTrigger": {
                            "every": "60"
                          }
                        },
                        "requiredConfirmations": "3",
                        "filters": [
                          {
                            "key": {
                              "name": "arb.price",
                              "type": "TYPE_INTEGER",
                              "numberDecimalPlaces": "18"
                            },
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                              {
                                "operator": "OPERATOR_GREATER_THAN",
                                "value": "0"
                              }
                            ]
                          }
                        ],
                        "normalisers": [
                          {
                            "name": "arb.price",
                            "expression": "$[0]"
                          }
                        ],
                        "sourceChainId": "100"
                      }
                    }
                  },
                  "dataSourceSpecBinding": {
                    "settlementDataProperty": "arb.price",
                    "settlementScheduleProperty": "vegaprotocol.builtin.timetrigger"
                  }
                }
              },
              "metadata": [
                "base:ARB",
                "quote:USDT",
                "oracle:pyth",
                "oracleChain:gnosis",
                "class:fx/crypto",
                "perpetual",
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                "enactment:2024-06-20T09:00:00Z"
              ],
              "priceMonitoringParameters": {
                "triggers": [
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                  },
                  {
                    "horizon": "21600",
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                    "auctionExtension": "3600"
                  },
                  {
                    "horizon": "21600",
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                  },
                  {
                    "horizon": "21600",
                    "probability": "0.9999999",
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                  },
                  {
                    "horizon": "21600",
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                  },
                  {
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                  {
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                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
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                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
                    "auctionExtension": "900"
                  },
                  {
                    "horizon": "4320",
                    "probability": "0.9999999",
                    "auctionExtension": "900"
                  },
                  {
                    "horizon": "1440",
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                    "auctionExtension": "450"
                  },
                  {
                    "horizon": "1440",
                    "probability": "0.9999999",
                    "auctionExtension": "450"
                  },
                  {
                    "horizon": "1440",
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                  },
                  {
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                  },
                  {
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                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  },
                  {
                    "horizon": "360",
                    "probability": "0.9999999",
                    "auctionExtension": "75"
                  }
                ]
              },
              "liquidityMonitoringParameters": {
                "targetStakeParameters": {
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                },
                "triggeringRatio": "",
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              },
              "linearSlippageFactor": "0.001",
              "liquiditySlaParameters": {
                "priceRange": "0.005",
                "commitmentMinTimeFraction": "0.5",
                "performanceHysteresisEpochs": "0",
                "slaCompetitionFactor": "1"
              },
              "liquidityFeeSettings": {
                "method": "METHOD_CONSTANT",
                "feeConstant": "0.0001"
              },
              "liquidationStrategy": {
                "disposalTimeStep": "1",
                "disposalFraction": "1",
                "fullDisposalSize": "1000000",
                "maxFractionConsumed": "0.1",
                "disposalSlippageRange": "0.005"
              },
              "markPriceConfiguration": {
                "decayWeight": "1",
                "decayPower": "1",
                "cashAmount": "0",
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                  "0",
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                ],
                "sourceStalenessTolerance": [
                  "1m0s",
                  "1m0s",
                  "1m0s",
                  "1m0s"
                ],
                "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": [
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                            "every": "60"
                          }
                        },
                        "requiredConfirmations": "3",
                        "filters": [
                          {
                            "key": {
                              "name": "arb.price",
                              "type": "TYPE_INTEGER",
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                            },
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                              {
                                "operator": "OPERATOR_GREATER_THAN",
                                "value": "0"
                              }
                            ]
                          }
                        ],
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                          {
                            "name": "arb.price",
                            "expression": "$[0]"
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                        ],
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                      }
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                ],
                "dataSourcesSpecBinding": [
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                    "priceSourceProperty": "arb.price"
                  }
                ]
              },
              "logNormal": {
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                  "mu": 0,
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                }
              }
            }
          }
        }
      ]
    }
  }
}

This is the proposal for the second part (some timestamps and prices are not filled yet for obvious reasons):

{
  "batchProposalSubmission": {
    "rationale": {
      "title": "VMP-48 part 2 minor coins markets migrations to ethereum USDT",
      "description": "This proposposal implement the settlement of markets using USDT a settlement asset as described in the following forum post "
    },
    "terms": {
      "closingTimestamp": "/*todo*/",
      "changes": [
        {
          "updateMarketState": {
            "changes": {
              "marketId": "b75bd35365115c79e95d50bccc4593a52639a59d5b7adaeecd5ad593edcf17b5",
              "price": "/*todo*/",
              "updateType": "MARKET_STATE_UPDATE_TYPE_TERMINATE"
            }
          }
        },
        {
          "updateMarketState": {
            "changes": {
              "marketId": "cd30cada6e89f64c1e5b848e40c345e6e1811d1576685af43227855f146c7c84",
              "price": "/*todo*/",
              "updateType": "MARKET_STATE_UPDATE_TYPE_TERMINATE"
            }
          }
        },
        {
          "updateMarketState": {
            "changes": {
              "marketId": "b0ef037ff334cb83f80897b92ce197b440e27af47e671cd59933595e942abfc9",
              "price": "/*todo*/",
              "updateType": "MARKET_STATE_UPDATE_TYPE_TERMINATE"
            }
          }
        },
        {
          "updateMarketState": {
            "changes": {
              "marketId": "5ec43c5d3570ff001b5072faeeff56b4320124175a76a1b624df80169b1ece5e",
              "price": "/*todo*/",
              "updateType": "MARKET_STATE_UPDATE_TYPE_TERMINATE"
            }
          }
        },
        {
          "updateMarketState": {
            "changes": {
              "marketId": "4178b7d5a1f0109766dc4fd2788c5a7510eb13fb5d7c975b1f8afe49e6447f06",
              "price": "/*todo*/",
              "updateType": "MARKET_STATE_UPDATE_TYPE_TERMINATE"
            }
          }
        },
        {
          "updateMarketState": {
            "changes": {
              "marketId": "603f891b390fa67ac1a7b8f520c743e776cf58da7b8637e2572d556ba55f2878",
              "price": "/*todo*/",
              "updateType": "MARKET_STATE_UPDATE_TYPE_TERMINATE"
            }
          }
        }
      ]
    }
  }
}

I realise those proposal are quite big, but you can find a more “browsable” version of those respectively via the following links:

Part 1 link

Part 2 link

Let’s do it but I’d suggest we suspend old ones only a short time before the opening auction on the arbUSDT settled ones can end.

When this gets to BTC/ETH/SOL let’s even try to have them overlap so that there is no “downtime” on trading on those.

This is the updated proposal:

Part 1 link

For info the only change is by community request to move the closing time of the vote to Monday 17th of June 11:00 BST and the suspension / end of opening auction for the markets to 12:00 BST.

Part one has now been submitted for governance vote VEGA Governance

The 6 existing markets have now entered the suspended state, and the new market settling with arbitrum USDT are now in opening auction.

Here’s the updated proposal to settle the 6 old markets using the prices at 12:00 BST today.

Part 2 updated

Proposed for governance here VEGA Governance