{"componentChunkName":"component---src-pages-sccp-sccp-markdown-remark-frontmatter-sccp-tsx","path":"/sccp/sccp-2048/","result":{"data":{"markdownRemark":{"fileAbsolutePath":"/vercel/path0/content/sccp/sccp-2048.md","frontmatter":{"sip":null,"sccp":2048,"title":"Update Max Market Value","network":"Optimism","author":"Kaleb (@kaleb-keny)","type":"Governance","proposal":"https://snapshot.org/#/snxgov.eth/proposal/0xc73d8e0fe68a24ae9c20bdd633c7ce02c4ff60fba01e69d0cee184937dcdeaaa","implementor":null,"release":null,"created":"2023-09-23T00:00:00.000Z","updated":null,"status":"Implemented"},"html":"<h1 id=\"simple-summary\" style=\"position:relative;\"><a href=\"#simple-summary\" aria-label=\"simple summary permalink\" class=\"anchor before\"><svg aria-hidden=\"true\" focusable=\"false\" height=\"16\" version=\"1.1\" viewBox=\"0 0 16 16\" width=\"16\"><path fill-rule=\"evenodd\" d=\"M4 9h1v1H4c-1.5 0-3-1.69-3-3.5S2.55 3 4 3h4c1.45 0 3 1.69 3 3.5 0 1.41-.91 2.72-2 3.25V8.59c.58-.45 1-1.27 1-2.09C10 5.22 8.98 4 8 4H4c-.98 0-2 1.22-2 2.5S3 9 4 9zm9-3h-1v1h1c1 0 2 1.22 2 2.5S13.98 12 13 12H9c-.98 0-2-1.22-2-2.5 0-.83.42-1.64 1-2.09V6.25c-1.09.53-2 1.84-2 3.25C6 11.31 7.55 13 9 13h4c1.45 0 3-1.69 3-3.5S14.5 6 13 6z\"></path></svg></a>Simple Summary</h1>\n<p>This SCCP proposes to increase the max market value on the below:</p>\n<table>\n<thead>\n<tr>\n<th align=\"center\"><strong>Market</strong></th>\n<th align=\"center\"><strong>Current</strong></th>\n<th align=\"center\"><strong>Proposed</strong></th>\n<th align=\"center\"><strong>Proposed $</strong></th>\n<th align=\"center\"><strong>Change in $</strong></th>\n<th align=\"center\"><strong>Utilization</strong></th>\n</tr>\n</thead>\n<tbody>\n<tr>\n<td align=\"center\">MKR</td>\n<td align=\"center\">1,500</td>\n<td align=\"center\">2,000</td>\n<td align=\"center\">3,005,340</td>\n<td align=\"center\">+751,335</td>\n<td align=\"center\">50%</td>\n</tr>\n<tr>\n<td align=\"center\">FXS</td>\n<td align=\"center\">40,000</td>\n<td align=\"center\">80,000</td>\n<td align=\"center\">485,137</td>\n<td align=\"center\">+242,568</td>\n<td align=\"center\">50%</td>\n</tr>\n<tr>\n<td align=\"center\">GMX</td>\n<td align=\"center\">14,000</td>\n<td align=\"center\">21,000</td>\n<td align=\"center\">804,780</td>\n<td align=\"center\">+268,260</td>\n<td align=\"center\">80%</td>\n</tr>\n<tr>\n<td align=\"center\">SOL</td>\n<td align=\"center\">220,000</td>\n<td align=\"center\">300,000</td>\n<td align=\"center\">6,089,820</td>\n<td align=\"center\">+1,623,952</td>\n<td align=\"center\">65%</td>\n</tr>\n</tbody>\n</table>\n<h1 id=\"abstract\" style=\"position:relative;\"><a href=\"#abstract\" aria-label=\"abstract permalink\" class=\"anchor before\"><svg aria-hidden=\"true\" focusable=\"false\" height=\"16\" version=\"1.1\" viewBox=\"0 0 16 16\" width=\"16\"><path fill-rule=\"evenodd\" d=\"M4 9h1v1H4c-1.5 0-3-1.69-3-3.5S2.55 3 4 3h4c1.45 0 3 1.69 3 3.5 0 1.41-.91 2.72-2 3.25V8.59c.58-.45 1-1.27 1-2.09C10 5.22 8.98 4 8 4H4c-.98 0-2 1.22-2 2.5S3 9 4 9zm9-3h-1v1h1c1 0 2 1.22 2 2.5S13.98 12 13 12H9c-.98 0-2-1.22-2-2.5 0-.83.42-1.64 1-2.09V6.25c-1.09.53-2 1.84-2 3.25C6 11.31 7.55 13 9 13h4c1.45 0 3-1.69 3-3.5S14.5 6 13 6z\"></path></svg></a>Abstract</h1>\n<p><code>maxMarketValue</code> is the max open interest on one either side of the market denominated underlying currency of that market.</p>\n<h1 id=\"motivation\" style=\"position:relative;\"><a href=\"#motivation\" aria-label=\"motivation permalink\" class=\"anchor before\"><svg aria-hidden=\"true\" focusable=\"false\" height=\"16\" version=\"1.1\" viewBox=\"0 0 16 16\" width=\"16\"><path fill-rule=\"evenodd\" d=\"M4 9h1v1H4c-1.5 0-3-1.69-3-3.5S2.55 3 4 3h4c1.45 0 3 1.69 3 3.5 0 1.41-.91 2.72-2 3.25V8.59c.58-.45 1-1.27 1-2.09C10 5.22 8.98 4 8 4H4c-.98 0-2 1.22-2 2.5S3 9 4 9zm9-3h-1v1h1c1 0 2 1.22 2 2.5S13.98 12 13 12H9c-.98 0-2-1.22-2-2.5 0-.83.42-1.64 1-2.09V6.25c-1.09.53-2 1.84-2 3.25C6 11.31 7.55 13 9 13h4c1.45 0 3-1.69 3-3.5S14.5 6 13 6z\"></path></svg></a>Motivation</h1>\n<p>The main motivation is to cater for the increase in open interest and appease the high utilization on those markets.</p>\n<h1 id=\"copyright\" style=\"position:relative;\"><a href=\"#copyright\" aria-label=\"copyright permalink\" class=\"anchor before\"><svg aria-hidden=\"true\" focusable=\"false\" height=\"16\" version=\"1.1\" viewBox=\"0 0 16 16\" width=\"16\"><path fill-rule=\"evenodd\" d=\"M4 9h1v1H4c-1.5 0-3-1.69-3-3.5S2.55 3 4 3h4c1.45 0 3 1.69 3 3.5 0 1.41-.91 2.72-2 3.25V8.59c.58-.45 1-1.27 1-2.09C10 5.22 8.98 4 8 4H4c-.98 0-2 1.22-2 2.5S3 9 4 9zm9-3h-1v1h1c1 0 2 1.22 2 2.5S13.98 12 13 12H9c-.98 0-2-1.22-2-2.5 0-.83.42-1.64 1-2.09V6.25c-1.09.53-2 1.84-2 3.25C6 11.31 7.55 13 9 13h4c1.45 0 3-1.69 3-3.5S14.5 6 13 6z\"></path></svg></a>Copyright</h1>\n<p>Copyright and related rights waived via <a href=\"https://creativecommons.org/publicdomain/zero/1.0/\">CC0</a>.</p>"}},"pageContext":{"id":"d4224978-d7f6-5eb1-b055-f75b49afc9ca","frontmatter__sccp":2048,"__params":{"frontmatter__sccp":"2048"}}},"staticQueryHashes":[]}