Risk parameters

Every parameter lives in the registry and applies to every market. The owner sets them for now. They move to $SCAP governance once $SCAP launches. Every change emits ParamsUpdated.

Testnet scale

The testnet faucet gives 0.1 HYPE per day. A 500 HYPE pool is impossible to build with that. So the testnet runs the same contracts with the liquidity threshold scaled by 1/100,000: 0.005 HYPE. Every ratio, cap and band is the same as on mainnet.

What each one does

• Minimum liquidity. HYPE a spot pool must hold before a market can open on its token.
• Open-interest cap. Per side, as a share of the spot pool's HYPE. A thin pool gets a small market.
• Max position. Largest single position, as a share of the spot pool's HYPE, in notional.
• Max leverage. Integer leverage cap.
• Clamp. The index is the TWAP bounded to this band around spot.
• Freeze. Spot this far from the TWAP freezes the market.
• Minimum hold. Seconds between opening and closing a position.
• Fee. On open and on close, as a share of notional.
• Liquidation. Margin usage at which a position becomes liquidatable.
• Liquidator bounty. Share of the position margin paid to the liquidator.
• Funding interval. Seconds between funding settlements.
• TWAP window. Seconds of pool history averaged into the index.