ETH will be listed on Increment
Ethereum is a decentralized blockchain designed to execute smart contracts and decentralized applications (DApps). It was proposed by Vitalik Buterin in late 2013 and went live in 2015. Ethereum operates using its native cryptocurrency, Ether (ETH), which is used to facilitate transactions and incentivize network participants. The platform's main feature is its ability to enable developers to create smart contracts, self-executing contracts with the terms of the agreement directly written into code. Ethereum's innovative approach has led to the growth of a vibrant ecosystem of DApps spanning finance, gaming, supply chain management, and more, making it one of the leading platforms for blockchain innovation.
Liquidity provision starts at 22:15 UTC on March 18, 2024
Trading starts at 22:30 UTC on March 18, 2024
The forum proposal to add ETH can be found here: https://discourse.increment.finance/t/iep-1-add-ethusd-market-on-zksync-era/978
The onchain proposal and execution to add ETH can be found here: https://www.tally.xyz/gov/increment/proposal/69141960479547980768362631348905631014906854735220772041261933981290303762003?chart=bubble
ETHUSD Market Parameters
| Parameter | Description | Set As |
|---------------------|-----------------------------|---------|
| maxPosition | Max position size | 5000 |
| maxBlockTradeAmount | Max amount per timestamp | 50,000 |
| insuranceFee | Insurance fee charged | 0.10% |
| twapFrequency | Frequency of TWAP updates | 15 mins |
| sensitivity | Sensitivity of funding rate | 3 |Maximum account leverage before liquidation: 33x
Maximum account leverage when opening a position: 6.66x
Fees: Curve has a mid_fee and an out_fee. The mid_fee is the minimum fee that is charged when the pool is maximally balanced: 0.26%. The out_fee is the maximum fee that is charged when the pool is imbalanced: 0.45%. Another important parameter is fee_gamma which controls how quickly fees change from mid_fee to out_fee or vis versa as pool imbalances transform: 0.00023.
Price for liquidations: The system uses the ETHUSD Chainlink oracle as the price for liquidations.
Funding: Funding payments are added or subtracted to any incurred PnL whenever the global state is updated. The global state can be updated when a user changes position, adds liquidity, or removes liquidity on the market. For more details on funding please see Funding.
Note: These parameters are subject to change through Governance, for the most up to date parameters, refer to Docs.
Use of any decentralized finance application entails certain risks. Please review Terms of Service and Risks and Disclaimers before interacting with Increment.
Increment is a decentralized, algorithmic perpetual swaps protocol building on zkSync Era, featuring automatically concentrated liquidity, dynamic fees and parametrizable pools.
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