Proposal #46: New SOL + AVAX Market Creation

Summary

Tracer’s Perpetual Pools can support a range of exciting markets. And with the current sentiment changing around “the merge" of Ethereum, the vulnerabilities of other alternative-layer-1-blockchains, and the shortfallings around speed and cost, we should allow the market to manage their exposure. Tracer should provide a 3x leveraged SOL/ETH and a 3x leveraged AVAX/ETH. With the recent Perpetual Pools v2 launching, there are a lot fewer markets available, and these would be a great demonstration of how the reduced volatility decay can enable people to manage their exposure longer-term without risk of liquidation. It appears that there is a SOL Chainlink price feed on Arbitrum, but not an AVAX feed yet. No doubt it will be available soon.

If this proposal is successful, the SOL/ETH and AVAX/ETH markets would be settled in USDC for 3x-L/S.

Execution

Chainlink offers a SOL/USD Oracle and the ETH/USD Oracle on Arbitrum. Taking these can build the SOL/ETH market. Without jumping too far ahead of "The Voyage rollout, if the Tracer team can launch the SOL/ETH and AVAX/ETH markets, I am willing to seed liquidity into the Pools, to encourage more people to participate. I am a big supporter of Tracer and hold a bullish TCR position. “Deploy New Pool” isn’t currently activated on the Pools interface. Will be exciting to see people interact with the Tracer Factory soon, so that they might create markets independently. If the Tracer Discourse community is open to adding these SOL/ETH and AVAX/ETH Perpetual Pools, we should move to a Snapshot vote.

Interpretation

Unless otherwise defined in this offer, all terms beginning with a capital letter which are defined in the Participation Agreement have the same meaning unless the context otherwise requires.

If this offer is accepted as a Proposal under the Participation Agreement, others may formally document aspects of this Proposal.

Copyright Waiver

Copyright and related rights to this Proposal are waived pursuant to [CC0]

Please reply indicating your approval or disapproval.

7 Likes

I support this proposal

1 Like

Great to see the level of support already

1 Like

I support this as well, obviously.

1 Like

I approve this. Sounds good!

1 Like

I support this proposal.

1 Like

@AnatolKir - What level of capital are you commiting day 1 of launching these markets? Also what level of marketing support are you looking to provide? I would like this to serve as a precedent for future proposals.

@Billy I am planning to commit 50,000 USDC to each market to help kick start them. I am not planning on providing marketing support.

1 Like

I support this proposal & envisage that we’ll see a high usage rate for these two proposed pools.

If you sort dYdX’s markets via decreasing 24 hour volume, you can see that AVAX and SOL are the two most liquid markets following ETH and BTC - so I’m eager to see if we follow a similar pattern. I’m in support of this proposal and would like to see more top-10 crypto pairs available on PPV2.

1 Like
Consensus check
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0 voters