SIP-2049: Begin migrating offchain Perps v2 markets

Author
StatusImplemented
TypeGovernance
NetworkOptimism
ImplementorTBD
ReleaseTBD
ProposalLoading status...
Created2024-01-16

Motivation

Simple Summary

Change forex and commodity markets to close-only, in preparation for migration to Perps v3.

Abstract

Set maxMarketSize = 0 for AUD, XAG, GBP, EUR, XAU on Perps v2, so they become close-only.

Motivation

Offchain assets require logic for trading hours that has proved unreliable - most recently falsely activating the forex and commodity perp markets on Christmas Eve.

ASSET AVERAGE WEEKLY OPEN INTEREST ($)
AUD 83,708.89
XAG 151,738.34
GBP 204,196.55
EUR 214,073.98
XAU 640,473.19
TOTAL 1,294,190.95

These markets combined represent <1% of recent open interest on Perps v2.

Specification

Rationale

Moving offchain markets to close only on Perps v2 will provide time for the offchain logic to be improved, before launching on Perps v3.

Technical Specification

Set maxMarketSize = 0 for AUD, XAG, GBP, EUR, XAU on Perps v2. Traders will only be able to close positions, not open new ones.

Test Cases

N/A

Configurable Values (Via SCCP)

Copyright and related rights waived via CC0.