Create market XAU/USDT
This proposal creates a perpetual market for the price of Gold.
This market will use Pyth as an external price source for funding payments.
The enactment and closing date haven’t been set to Monday 8th of July so it leaves people3 days to review this proposal and vote for it.
The full proposal:
{
"proposalSubmission": {
"rationale": {
"title": "VMP-50 - Create XAU/USDT Perpetual future market",
"description": "This proposal requests to created the XAU/USDT Perpetual future as defined in the following proposal (https://community.vega.xyz/t/vmp-50-new-gold-usdt-market/4561)"
},
"reference": "",
"terms": {
"closingTimestamp": "1720432800",
"enactmentTimestamp": "1720436400",
"validationTimestamp": "0",
"newMarket": {
"changes": {
"tickSize": "1",
"decimalPlaces": "3",
"positionDecimalPlaces": "3",
"instrument": {
"code": "XAU/USDT",
"name": "Gold / Tether USD (Perpetual)",
"perpetual": {
"settlementAsset": "2a1f29de786c49d7d4234410bf2e7196a6d173730288ffe44b1f7e282efb92b1",
"quoteName": "USDT",
"marginFundingFactor": "0.9",
"interestRate": "0.1095",
"clampLowerBound": "-0.0005",
"clampUpperBound": "0.0005",
"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": [
"0x765d2ba906dbc32ca17cc11f5310a89e9ee1f6420508c63861f2f8ba4ee34bb2"
],
"trigger": {
"timeTrigger": {
"every": "60"
}
},
"requiredConfirmations": "3",
"filters": [
{
"key": {
"name": "xau.price",
"type": "TYPE_INTEGER",
"numberDecimalPlaces": "18"
},
"conditions": [
{
"operator": "OPERATOR_GREATER_THAN",
"value": "0"
}
]
}
],
"normalisers": [
{
"name": "xau.price",
"expression": "$[0]"
}
],
"sourceChainId": "100"
}
}
},
"dataSourceSpecBinding": {
"settlementDataProperty": "xau.price",
"settlementScheduleProperty": "vegaprotocol.builtin.timetrigger"
},
"fundingRateScalingFactor": "1",
"fundingRateLowerBound": "-0.001",
"fundingRateUpperBound": "0.001",
"internalCompositePriceConfiguration": {
"decayWeight": "1",
"decayPower": "1",
"cashAmount": "50000000",
"sourceWeights": [
"0",
"0.999",
"0.001",
"0"
],
"sourceStalenessTolerance": [
"1m0s",
"1m0s",
"10m0s",
"10m0s"
],
"compositePriceType": "COMPOSITE_PRICE_TYPE_WEIGHTED",
"dataSourcesSpec": [
{
"external": {
"ethOracle": {
"address": "0x719abd606155442c21b7d561426d42bd0e40a776",
"abi": "[{\"inputs\": [{\"internalType\": \"bytes32\", \"name\": \"id\", \"type\": \"bytes32\"}], \"name\": \"getPrice\", \"outputs\": [{\"internalType\": \"int256\", \"name\": \"\", \"type\": \"int256\" }], \"stateMutability\": \"view\", \"type\": \"function\"}]",
"method": "getPrice",
"args": [
"0x765d2ba906dbc32ca17cc11f5310a89e9ee1f6420508c63861f2f8ba4ee34bb2"
],
"trigger": {
"timeTrigger": {
"every": "60"
}
},
"requiredConfirmations": "3",
"filters": [
{
"key": {
"name": "xau.price",
"type": "TYPE_INTEGER",
"numberDecimalPlaces": "18"
},
"conditions": [
{
"operator": "OPERATOR_GREATER_THAN",
"value": "0"
}
]
}
],
"normalisers": [
{
"name": "xau.price",
"expression": "$[0]"
}
],
"sourceChainId": "100"
}
}
}
],
"dataSourcesSpecBinding": [
{
"priceSourceProperty": "xau.price"
}
]
}
}
},
"metadata": [
"base:XAU",
"quote:USDT",
"oracle:pyth",
"oracleChain:gnosis",
"class:fx/crypto",
"perpetual",
"sector:defi",
"enactment:2024-06-21T15:00:00Z",
"ticker:XAU"
],
"priceMonitoringParameters": {
"triggers": [
{
"horizon": "3600",
"probability": "0.9999999693594873",
"auctionExtension": "10"
},
{
"horizon": "3600",
"probability": "0.9999999693594873",
"auctionExtension": "10"
},
{
"horizon": "3600",
"probability": "0.9999999693594873",
"auctionExtension": "10"
},
{
"horizon": "3600",
"probability": "0.9999999693594873",
"auctionExtension": "10"
},
{
"horizon": "3600",
"probability": "0.9999999693594873",
"auctionExtension": "10"
},
{
"horizon": "3600",
"probability": "0.9999999693594873",
"auctionExtension": "10"
},
{
"horizon": "21600",
"probability": "0.9999918401241302",
"auctionExtension": "10"
},
{
"horizon": "21600",
"probability": "0.9999918401241302",
"auctionExtension": "10"
},
{
"horizon": "21600",
"probability": "0.9999918401241302",
"auctionExtension": "10"
},
{
"horizon": "21600",
"probability": "0.9999918401241302",
"auctionExtension": "10"
},
{
"horizon": "21600",
"probability": "0.9999918401241302",
"auctionExtension": "10"
},
{
"horizon": "21600",
"probability": "0.9999918401241302",
"auctionExtension": "10"
}
]
},
"liquidityMonitoringParameters": {
"targetStakeParameters": {
"timeWindow": "3600",
"scalingFactor": 0.05
},
"triggeringRatio": "0.9",
"auctionExtension": "1"
},
"logNormal": {
"riskAversionParameter": 1e-8,
"tau": 0.000003995,
"params": {
"mu": 0,
"r": 0,
"sigma": 0.5
}
},
"linearSlippageFactor": "0.001",
"quadraticSlippageFactor": "0",
"liquiditySlaParameters": {
"priceRange": "0.005",
"commitmentMinTimeFraction": "0.5",
"performanceHysteresisEpochs": "0",
"slaCompetitionFactor": "1"
},
"liquidityFeeSettings": {
"feeConstant": "0.0001",
"method": "METHOD_CONSTANT"
},
"liquidationStrategy": {
"disposalTimeStep": "1",
"disposalFraction": "1",
"fullDisposalSize": "1000000",
"maxFractionConsumed": "0.1",
"disposalSlippageRange": "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": {
"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": [
"0x765d2ba906dbc32ca17cc11f5310a89e9ee1f6420508c63861f2f8ba4ee34bb2"
],
"trigger": {
"timeTrigger": {
"every": "60"
}
},
"requiredConfirmations": "3",
"filters": [
{
"key": {
"name": "xau.price",
"type": "TYPE_INTEGER",
"numberDecimalPlaces": "18"
},
"conditions": [
{
"operator": "OPERATOR_GREATER_THAN",
"value": "0"
}
]
}
],
"normalisers": [
{
"name": "xau.price",
"expression": "$[0]"
}
],
"sourceChainId": "100"
}
}
}
],
"dataSourcesSpecBinding": [
{
"priceSourceProperty": "xau.price"
}
]
}
}
}
}
}
}
You can find the full proposal for convenience here.