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Simple Summary

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List Convex Finance (CVX) on Synthetix Perpetual Futures.

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Abstract

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This proposal aims to list CVX perpetual futures on Synthetix Perps, allowing traders to gain exposure or hedge against CVX in the Synthetix ecosystem.

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Motivation

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The CVX community is known for its active trading presence and has been engaging with Kwenta. They have expressed a keen interest in having CVX included in SNX perps. Despite potential low liquidity leading to small OI (Open Interest) caps, the community's request for inclusion highlights a strong demand. This listing can serve as a bridge to further enhance the engagement and collaboration between the Synthetix and CVX communities.

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Specification

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Offchain Liquidity Information for CVX

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The following table presents the offchain liquidity data for CVX across various exchanges:

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ExchangePairPriceSpreadIndex PriceBasisOpen Interest24h VolumeMarket Share
DeepcoinCVX/USDT$2.840.01%---$396,6956.26%
DigiFinexCVX/USDT$2.840.04%---$56,6300.89%
BinanceCVX/USDT$2.840.11%---$1,576,44224.86%
BiconomyCVX/USDT$2.840.04%---$6,284.890.10%
BitgetCVX/USDT$2.840.18%---$54,927.740.87%
BingXCVX/USDT$2.840.14%---$113,2761.79%
PointPayCVX/USDT$2.840.12%---$29,002.140.46%
BitunixCVX/USDT$2.840.07%---$160,0702.52%
PhemexCVX/USDT$2.840.14%---$300,7174.74%
BitvavoCVX/EUR$2.820.23%---$91,569.521.44%
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Rationale

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CVX has perps listed on 11 centralized exchanges, including prominent ones like Binance, Bybit, and MEXC. The 2% depth on Binance perps is notably the deepest, at around $150,000 on either side. This depth suggests that it should be easy for users to engage in arbitrage opportunities. The presence of CVX on multiple exchanges and the depth of the market underscore the potential for a robust and active trading environment on Synthetix Perps.

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Technical Specification

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Requires Pyth and Chainlink oracles.

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Test Cases

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N/A

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Configurable Values (Via SCCP)

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The specific configurable values related to the CVX listing, such as leverage limits, funding rates, and margin requirements, will be updated and maintained as per SCCP guidelines.

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Copyright

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Copyright and related rights waived via CC0.

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