update 388/389/390

content/sccp/sccp-388.md

@@ -1,6 +1,6 @@
 ---
 sccp: 388
-title: Support sUSDS and stataUSDC as Margin on Perps V3
+title: Support sUSDS and stataBasUSDC as Margin on Perps V3
 network: Base
 status: Draft
 type: Governance
@@ -10,28 +10,35 @@ author: Robin
 
 # Simple Summary
 
-sUSDS is Spark's Savings USDS, which is an ERC-4626 representation of USDS in the Sky Savings Rate Module (SSR). sUSDS is redeemable for USDC via the Spark Peg Stability Module (PSM), which is currently integrated into 1inch on Base.
+This SCCP proposes to enable sUSDS and stataBasUSDC as margin options on Perps V3 Base: 
+- sUSDS is Spark's Savings USDS, a non-rebasing representation of USDS in the Sky Savings Rate Module (SSR). sUSDS is redeemable for USDC via the Spark Peg Stability Module (PSM), which is currently integrated into 1inch on Base. Information on sUSDS and the Spark PSM can be found [here](https://docs.spark.fi/dev/savings/susds-token) and [here](https://docs.spark.fi/dev/savings/spark-psm), respectively.
+- stataUSDC is a non-rebasing wrapper for Aave's USDC lending market. stataUSDC holders earn yield from Aave based on the USDC market's variable lending rate. 
 
-Information on sUSDS and the Spark PSM can be found [here](https://docs.spark.fi/dev/savings/susds-token) and [here](https://docs.spark.fi/dev/savings/spark-psm), respectively.
+# Abstract
 
-stataUSDC is a non-rebasing wrapper for Aave's USDC lending market. stataUSDC holders earn yield from Aave based on the USDC market's variable lending rate. 
 
-This SCCP proposes to add each collateral option as margin to Perps V3 on Base with the following implementation parameters:
+sUSDS and stataBasUSDC would be added as margin to Perps V3 on Base with the following implementation parameters:
 
 | **Margin** | **Discount Lower** | **Discount Upper** | **Max Collateral Amount** | **SkewScale** |
 |:----------:|:------------------:|:------------------:|:-------------------------:|:-------------:|
-|    sUSDS   |        TBD       |        TBD       |            TBD            |     TBD    |
-|  stataUSDC |        TBD       |        TBD       |            TBD            |     TBD    |
+|    [sUSDS](https://basescan.org/address/0x5875eee11cf8398102fdad704c9e96607675467a)   |        100 bp       |        101 bp       |             2m            |     1 wei     |
+|  [stataBasUSDC](https://basescan.org/address/0x4ea71a20e655794051d1ee8b6e4a3269b13ccacc) |        100 bp       |        101 bp       |            10m            |     1e36      |
+
 
-sUSDS 
 - the `discountScalar` would be set to 1 for all margins
+- `skewScale` would be set significantly high on `stataBasUSDC` as to allow perp traders to exit their margins and unwind using `stataBasUSDC` that are LP'd
+- `skewScale` would be set to 1 wei on sUSDS as no trading would be feasible 
 - the collateral liquidation penalty is 3 bp (collateralLiquidateRewardRatioD18).
-- The caps would be set to allow for 3 simultaneous margins and 10 positions in any given account
-- The synth representation of the above margins would have a atomic swap fee of 30%, as a disincentive on swapping until [SIP](https://sips.synthetix.io/sips/sip-406/) is implemented
+- The synth representation of the above margins would have a atomic swap fee of 30%, as a disincentive on swapping until [SIP](https://sips.synthetix.io/sips/sip-406/) is implemented.
+- Atomic trading fees would be set to zero on `stataBaseUSDC` but would be set to 30% on `sUSDS`.
+
+## Price Feeds: 
+- The price feed that would be used for sUSDS would be the sUSDS to USDS redemption rate, multiplied by the USDS/USD price. These can be obtained from pyth.
+- The price feed use on stataBasUSDC would be the same currently used for LP'ing that utilizes the erc-4626 to be able to evaluate the price in USDC.
 
 # Motivation
 
-The main motivation is to add the first yield-bearing stablecoin options as margin on Perps v3 Base, so that users can earn yield, both while they trade and while they have no open positions.
+The main motivation is to add the first yield-bearing stablecoin options as margin on Perps v3 Base, so that users can earn yield while trading.
 
 
 # Copyright

content/sccp/sccp-389.md

@@ -0,0 +1,54 @@
+---
+sccp: 389
+title: Deploy VVV to Perps V3 Base
+network: Base
+status: Vote_Pending
+type: Governance
+created: 2025-01-31
+author: Kaleb
+---
+
+# Simple Summary
+
+This SCCP proposes to deploy the below markets on Perps V3 on Base:
+
+| **Market** | **minimumInitialMarginRatio** | **initialMarginRatio** | **maintenanceMarginScalar** | **skewScale** | **maxMarketValue** | **maxMarketSize** |
+|:----------:|:-----------------------------:|:----------------------:|:---------------------------:|:-------------:|:------------------:|:-----------------:|
+|    VVV     |             5.00%             |          1.278         |            0.408            |   500,000  |      1,000,000     |     500,000     |
+
+Aside from the above parameters , the perps markets will have the following configurations as well:
+- TakerFeeRatio: 10 bp 
+- MakerFeeRatio: 2 bp
+- maxFundingVelocity: 36
+- flagRewardRatio: 3 bp
+- minimumPositionMargin: 15
+- lockedOiRatio: 0.1
+- maxLiquidationLimitMultiplier: 1.5
+- maxLiquidationPD: 5 bp
+- endorsedLiquidator: "0x11233749514Ab8d00C0A5873DF7428b3db70030f"
+
+
+# Abstract
+
+The parameters configurations description is as follows:
+- initialMarginRatio is a scalar applied on the minimumInitialMarginRatio to determine the minimum initial margin required to support a given portfolio of positions
+- maintenanceMarginScalar is a scalar applied on the initialMargin in order to obtain the maintenanceMargin. When traders fall below the maintenance margin, they are liquidated.
+- skewScale is the scaling factor of the relevant market in the underlying currency for computing price impact and funding rates
+- maxMarketSize is the max market value of the relevant market in the underlying currency
+- maxMarketValue is the max market value of the relevant market in USD
+- maker/taker fees pertain to fees charged when trading
+- maxFundingVelocity is the main parameter that allows to nudge funding rates
+- minimumPositionMargin is the minimum margin required
+- lockedOiRatio is the multiplier that determines the minimum amount of perp collateral required to back a given perp market
+- maxLiquidationLimitMultiplier is a parameter that rate limits liquidations. It is applied on the sum of maker and taker fees with a liquidation rate limit being triggered if pd exceeds that value
+- maxLiquidationPD is the minimum pd that triggers a reset of the liquidation capacity
+- endorsedLiquidator is a liquidator address that can bypass the rate limit
+- the collateral liquidation penalty is the penalty paid to the liquidator for executing a liquidation
+
+
+# Motivation
+
+The more options traders have via Synthetix Perps, the less likely they will move their margin to other trading venues to trade markets we don't provide. 
+
+# Copyright
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).

content/sccp/sccp-390.md

@@ -0,0 +1,34 @@
+---
+sccp: 390
+network: Base
+title: Update Perps V3 Parameters
+author: Kaleb (@kaleb-keny)
+created: 2025-02-03
+status: Vote_Pending
+type: Governance
+---
+
+## Simple Summary
+
+This SCCP proposes to update the perps v3 parameters on the ETH and BTC Markets, as per the below:
+
+### Skew Scale
+
+| **Market** | **Current** | **Proposed** | **Cex Slippage** | **Snx Slippage** |
+|:----------:|:-----------:|:------------:|:----------------:|:----------------:|
+|     ETH    |  350,000 |  150,000  |       2.25       |         6        |
+|     BTC    |  35,000  |   5,000   |        0.8       |         5        |
+
+*Slippage denoted above are on trades of size 500k$*
+
+## Abstract
+
+The `skewScale` is the parameter that determines the slippage incurred by the market when a given skew prevails.
+
+## Motivation
+
+The main motivation behind this SCCP is to increase the incentive on arbitrageurs to balance out a skew, given recent increased volatility of price moves. 
+
+## Copyright
+
+Copyright and related rights waived via [CC0](https://creativecommons.org/publicdomain/zero/1.0/).