SNXweave Weekly Recap 129

2 months ago 48

March 13, 2024

The pursuing station contains a recap of news, projects, and important updates from the Spartan Council and Core Contributors, arsenic good arsenic the Grants Council and Ambassador Council from past week.

👉TLDR

V3 listing supermarket discussion: Burt asked which assets are due for listing wrong supermarkets vs. which assets should beryllium listed retired of the supermarkets & wondered if it would beryllium confusing to support way of aggregate cross-margin accounts crossed respective supermarkets ⬇️
It was clarified that determination would beryllium conscionable 1 supermarket successful the main SC excavation wherever cross-margin would beryllium allowed, and different listings could beryllium added to the SC excavation extracurricular of that supermarket, truthful they would commercialized arsenic wholly isolated markets backed by the SC excavation (this would lucifer centralized speech UX).
Afif cautioned against adding riskier assets to the supermarket and suggested a periodic liquidity reappraisal to find whether immoderate listings successful the supermarket should beryllium switched to isolated markets
Kain besides brought up the anticipation of creating a liquidity-monitoring dashboard that would let the SC to enactment up-to-date connected the marketplace conditions
SIP-365: Remove Core Fee Switch presentation recap
SIP-366: Asynchronous Delegation presentation recap
SIP-360: Synthetix V3 Cross-chain Elections System presentation recap
SIP-341: Add Configurer Address presentation recap
SIP-361: Perps V3 — Integrator & CC Requests presentation recap

Spartan Council and SIP updates

Present astatine the March 6, 2024 Spartan Council Weekly Project Sync:
Spartan Council: bilby, Kain, Millie, ml_sudo, Snax Frens
Core Contributors: Afif, Ana, Burt, Cavalier, David, joey, jz, KALEB, Matt, meb, Mike, noah, Steve, sunny, troy

Burt started disconnected the treatment past week by asking however the Spartan Council intends to attack listings successful V3 based connected the caller “supermarket” mechanics (i.e. which assets are due for listing wrong supermarkets vs. which assets should beryllium listed retired of the supermarkets).

Burt mentioned that, from a idiosyncratic perspective, it mightiness go confusing to support way of aggregate cross-margin accounts crossed respective supermarkets, each with their ain acceptable of assets. It was clarified that determination would beryllium conscionable 1 supermarket successful the main SC excavation wherever cross-margin would beryllium allowed, and different listings could beryllium added to the SC excavation extracurricular of that supermarket, truthful they would commercialized arsenic wholly isolated markets backed by the SC excavation (this would lucifer centralized speech UX). Later, a wholly abstracted supermarket extracurricular of the SC excavation could beryllium added for much assertive long-tail plus listings.

Afif besides cautioned against adding riskier assets to the supermarket and suggested a periodic liquidity reappraisal to find whether immoderate listings successful the supermarket should beryllium switched to isolated markets. This power would entail opening a caller isolated marketplace and mounting the marketplace for that listing wrong the supermarket to close-only. It was suggested that a quantitative database of criteria beryllium formulated successful a SIP to find what assets are eligible for supermarket listing. Kain besides brought up the anticipation of creating a liquidity-monitoring dashboard that would let the SC to enactment up-to-date connected the marketplace conditions.

Next up, determination were respective SIP presentations past week, truthful let’s concisely reappraisal each of them:

SIP-365: Remove Core Fee Switch

Presented by Noah, this SIP proposes removing the halfway interest seizure mechanics that was implemented successful SIP-319 successful favour of market-level interest capture
The existing mechanics works good for spot markets, but is little suitable for Perps markets since it would measure fees connected the deposit and withdrawal of margin
Since the interest seizure occurs astatine the marketplace implementation, this SIP proposes removing the halfway interest alternatively than adding governance configuration variables

SIP-366: Asynchronous Delegation

This SIP is an betterment connected SIP-320 and seeks to destruct the imaginable LP onslaught vectors
SIP-320 projected a minimum delegation duration, but adjacent with that mechanics it was inactive imaginable to payment from timely delegation/undelegation of collateral
This SIP proposes adding a market-determined hold connected either absorption depending connected whether the delegated collateral is expanding oregon decreasing to marque the delegation asynchronous
This is akin to the bid colony asynchrony that was added to destruct frontrunning onslaught vectors
This is simply a power that tin beryllium turned connected oregon disconnected connected a per marketplace ground depending connected whether adversarial LP dynamics are a concern

SIP-360: Synthetix V3 Cross-chain Elections System

This SIP proposes a caller strategy for facilitating on-chain elections
Better cross-chain exertion has been released since the archetypal plan and merchandise of the V3 governance module, truthful this proposes incorporating immoderate of this caller tech to trim reliance connected Merkle trees and make a much modular predetermination system
Critically, it volition adhd flexibility to cipher voting powerfulness from V2 and V3

SIP-341: Add Configurer Address

This proposes adding a configurer code that would beryllium capable to execute SCCPs, which is simply a archetypal measurement towards the extremity of on-chain governance
The NFTs issued by the governance module pursuing elections would plug into this address, alternatively than the proprietor address, to trim protocol risk

SIP-361: Perps V3 — Integrator & CC Requests

Kaleb presented this past SIP, which proposes a fig of prime improvements suggested by CCs and integrators

These improvements include:

Drop the getReportedDebt from the lawsuit emitted upon withdrawing sUSD from a fixed perp marketplace (this volition trim outgo for users)
Incorporate a getOpenPositionSize that returns the size of an unfastened presumption erstwhile fixed a marketplace ID and relationship fig arsenic input
Emit an lawsuit erstwhile an relationship is flagged for liquidation (requested by Kwenta truthful they person documentation of erstwhile users are liquidated)
Incorporate a presumption relation that returns the colony keeping costs positive the colony reward (requested by Polynomial for reporting successful their UI)
Require a strict staleness tolerance connected borderline withdrawal (price freshness required for withdrawal — 30 seconds)
Incorporate a required borderline for bid erstwhile fixed an execution terms (required for bounds orders & requested by Kwenta)
Incorporate a secondary headdress connected unfastened involvement denominated successful USD (necessary to support OI caps during accelerated terms increases to support the protocol)
Remove the minimum keeping fees from getRequiredAccountMargins relation (this is simply a bug fix)