KIP-57: Remove fees for Cross Margin V1
| Author | |
|---|---|
| Status | Rejected |
| Created | 2023-01-16 |
Summary
Set all fee parameters for Cross Margin V1 orders to 0 bps.
Abstract
Limit and stop markets orders on the Cross Margin V1 implementation charge a 3 bps fee on each order. With the upcoming deprecation of these markets and considering other scaling limitations, these fees should be reduced to provide traders a more reliable frontend for trading.
Motivation
- Synthetix perps will be deprecated in the near future. Kwenta should provide traders who want to migrate positions to V2 with reduced fees in order to preserve their margin.
- The frontend has experienced a limitation on the number of accounts that can be indexed quickly by the subgraphs. Lowering fees will allow for adjustments to be made to track fewer contracts and re-enable historical position tracking.
Specification
Adjust the following parameters on the MarginBaseSettings contract link:
| Parameter | Old value | New Value |
|---|---|---|
tradeFee |
2 | 0 |
limitOrderFee |
3 | 0 |
stopOrderFee |
3 | 0 |
Copyright
Copyright and related rights waived via CC0.