Improves the liquidation fees calculation, cleans delayed order event and object params, fixes the funding rate accrual computation and introduces a cap on the fees sent to liquidators for very large liquidations.
\nSIP proposes 4 fixes:
\ndelayedOrder object and and DelayedOrderSubmitted event, andand an improvement:
\nDuring the alpha release and operation we discovered some inaccuracies on the fees calculation and information of delayed orders (object and events) and after some simulations, discovered that for very large liquidations the liquidator will be rewarded with more than necessary where the excess can be redirected to the protocol and redistributed to stakers.
\nThe fixes described in the Technical Specification solve an issue on the computation of the fees present on the current contract implementations.
\nFix unused params
\nUnused params targetRoundIdand executableAtTime should be zero in the delayedOrder object and DelayedOrderSubmitted event if the delayed order is off-chain (isOffchain: true).
Fix Liquidation Premium calculation
\nUse notionalValue (size * price) instead of price to calculate the liquidationPremium.
Fix Liquidation Premium calculation (2)
\nRemove the .5 factor when computing the liquidationPremium, and replace by an SCCP parameter.
Fix fee price using fillPrice (p/d adjusted)
\nUse the fill price (p/d adjusted price) to compute the fill price but still use oracle price (not adjusted) to compute liquidation price.
\nFix funding accrual
\nInclude the price of the asset when computing a positions' funding accrual. As part of this, we also increase maxFundingVelocity to 72 (from 3), wait 12hours, then lower back to 3.
Cap on liquidation fee sent to keeper
\nThis improvement introduces a new configuration parameter (maxKeeperFee) that will be used to cap the fee sent to a keeper. This cap applies for large liquidations where the keeper fee can be of several thousand dollars. The excess is redistributed to stakers to reduce the impact on the debt. The parameter initially is set to 1,000 sUSD for all markets
NA
\nmaxKeeperFee: The maximum fee paid to liquidatorsliquidationPremiumMultiplier: Multiplier applied in the calculation of the liquidation PremiumCopyright and related rights waived via CC0.
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