SIP-410: Patch - Perps V3 Multicollateral
| Author | Kaleb, DB |
|---|---|
| Status | Draft |
| Type | Governance |
| Network | Base & Arbitrum |
| Implementor | TBD |
| Release | TBD |
Simple Summary
This SIP proposes a patch to the perps v3 multicollateral contracts, whereby the tolerance is updated from DEFAULT to ONE_MONTH when the credit capacity is evaluated when an order is committed on perps.
Motivation
Recently perps v3 was with patches pertaining to audit findings and fixes. However one issue with that release was a setting of DEFAULt when fetching the credit capacity at order commit. The default being set to hourly means that every order commit requires a price update for all 80 markets on base and soon to be 80 markets on arbitrum every hour. This incorrect configuration is fixed with the patch where credit capacity has a looser tolerance. In fact actively traded markets with large open interest will have more churn and will get the prices updated more accurately, hence the fix specified in this SIP is limited in consequence from a risk point of view. Furthermore, the evalutation of credit capacity from LP's perspective remains unchanged.
Specification
The specification is a simple change outlined in this PR.
Test Cases
NA
Copyright
This SIP is licensed under CC0, waiving all copyright and related rights.