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Simple Summary

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This proposal suggests the addition of a view function that provides the minimum credit capacity of a market, required to maintain market liquidity, and an event that is emitted when capacity changes.

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Abstract

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A getMinimumCreditCapacity(uint128 marketId) function would return the minimum collateral needed for a given market to avoid getting locked due to insufficient collateral. In addition, a MinimumCreditCapacityChanged(uint128 marketId, uint128 oldCreditCapacity, uint128 newCreditCapacity) event would be emitted whenever the minimum collateral capacity changes.

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Motivation

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The proposed additions will improve the user experience on the frontend by allowing users to understand how much collateral they can withdraw without causing a transaction revert due to a market getting into a locked collateral state.

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For example, if a user wanted to decrease delegated collateral amount, the application could call getMinimumCreditCapacity to calculate the maximum amount the user could withdraw without causing a revert (losing user's money for gas fees)

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In addition, the event would enable the creation of a historical data chart or dashboard to track changes in market liquidity requirements over time.

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Specification

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Overview

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These additions would use existing data structures in the Synthetix V3 core system and should not introduce substantial risk to the system.

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Rationale

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Providing visibility into minimum collateral requirements and changes to them helps users make informed decisions about their participation in the Synthetix Protocol.

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Technical Specification

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The getMinimumCreditCapacity function could be implemented as follows:

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    function getMinimumCreditCapacity(\n        uint128 marketId\n    )\n        external\n        view\n        returns (uint128 minCreditCapacity)\n    {\n        // Implementation to calculate and return the minimum collateral requirement\n    }\n
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The MinimumCreditCapacityChanged event could be emitted as follows:

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    event MinimumCreditCapacityChanged(\n        uint128 indexed marketId,\n        uint128 oldCreditCapacity,\n        uint128 newCreditCapacity\n    );\n    \n    // This could be emitted wherever the minimum collateral requirement for a market changes in the system\n
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Test Case

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Applications could call the getMinimumCreditCapacity function to display the minimum collateral needed to maintain liquidity for a given market.

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Application could listen for the MinimumCreditCapacityChanged event being emitted when collateral delegation changes for a given market or market configuration changes.

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Configurable Values (Via SCCP)

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N/A

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Copyright

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Copyright and related rights waived via CC0.

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