GXV V2: Interface & Market Paramaters

NEW MARKET FEE SETTINGS Below are the proposed range and initial fees for testing; a final range should be confirmed by governance closer to full deployment:

Increase / Decrease Position:

Approved Range: 0.00% - 0.10% of trade size. Initial Paramater: 0.05% of trade size. Price Impact:

Approved Range: Adjusted based on liquidity on reference exchanges. Swap Fees:

Approved Range: 0.00% - 0.50% on crypto assets and 0.00% - 0.50% on stableswaps. Initial Paramaters: 0.05% on crypto assets and 0.01% on stableswaps. Funding Fee

Approved Range: Based on the difference between long and short open interest for a market and a multiplier value. Borrow Fee

Approved Range: Based on the utilization percentage of the pool and a multiplier value. Borrow Fee help mitigate attacks with a trader or competitor consuming both long and short capacity at low net cost. Multiplier Value

Approved Range: Funding and Borrow Fee have multiplier values that need to be configured such that they don’t overly reduce the effect of positive funding fees but are a sufficient incentive to minimize OI imbalance. Over time Funding fees may start to approximate levels for existing centralized exchanges. GMX V2 contracts combine a proposed lower swap fee with the implementation of price impact (both positive and negative) along with oracles that aggregate best bid and best ask pricing from the reference exchanges. This setup is aimed to ensure deep liquidity is secured with liquidity providers having a less volatile exposure, as net OI will be more effectively balanced through economic incentives when a large directional exposure occurs. More details on the price impact calculation: https://github.com/gmx-io/gmx-synthetics#price-impact