SIP-363: List SNX-PERP on Perps v3 on Base
| Author | |
|---|---|
| Status | Draft |
| Type | Governance |
| Network | Base |
| Implementor | TBD |
| Release | TBD |
| Created | 2024-02-27 |
Simple Summary
List SNX-PERP on Perps v3 on the Base network.
Abstract
List an SNX-PERP market on the Perps v3 on the Base network, allowing traders to go long and short on the native asset of the ecosystem in an environment where the SNX token is not used as collateral for the positions.
Motivation
SNX, serving as the backbone of the Synthetix v2 system, has not been adopted as collateral in the transition to v3 on the Base network. This scenario presents an opportunity to list an SNX market. Listing SNX-PERP is a strategic initiative to foster community involvement, showcase system flexibility, and signal the start of expansive growth for v3. The listing move also has practical advantages for SNX stakers who may wish to hedge movements in the underlying token without impacting their staking position.
Specification
Rationale
With Polynomial opening their v3 to the public, Kwenta already live, and OI caps set to increase soon, SNX-PERP is the perfect market to introduce as Perps v3 expands.
Technical Specification
Requires a Pyth oracle on Base
Test Cases
n/a
Configurable Values
To be set via SCCP
Copyright
Copyright and related rights waived via CC0.