Proposed the enabling of single token markets on GMX V2 Avalanche. The successful launch of ETH and BTC markets on Arbitrum has shown strong demand for a yield generating proxy of these single assets. Propose to extend the recommendation provided for Arbitrum markets (BTC & ETH) to Avalanche while also adding support for gmAVAX+ (AVAX-AVAX).
In addition to the completed risk review, contributors have also had discussions with key partners on Avalanche to support the growth of a potential gmAVAX+ market, with lending markets and CDPs indicating support and Ava Labs supportive of directing Rush incentives towards the growth of this market.
Token Address: 0xfc5a1a6eb076a2c7ad06ed22c90d7e710e35ad0a (Arbitrum)
Listing Chain: Avalanche
Summary: AVAX is the is the native gas token of the Avalanche blockchain, the largest EVM Alt-L1.
MCAP: $14.2 billion
Daily Volume: $440 million
Coingecko Link: https://www.coingecko.com/en/coins/avalanche
as on May 17, 2024
Recommendations
| WAVAX_WAVAX | |
|---|---|
| Position Impact Exponent | 2 |
| Position Impact Positive Factor | 5e-9 |
| Position Impact Negative Factor | 1e-8 |
| Position Impact Max Positive Factor | 0.005 |
| Position Impact Max Negative Factor | 0.005 |
| Position Impact Max Factor for Liquidations | 0 |
| Swap Impact Exponent | 2 |
| Swap Impact Positive Factor | 5.00E-09 |
| Swap Impact Negative Factor | 1.00E-08 |
| Swap Fee Factor (Positive Price Impact) | 0.0005 |
| Swap Fee Factor (Negative Price Impact) | 0.0007 |
| Position Fee Factor (Positive Price Impact) | 0.0005 |
| Position Fee Factor (Negative Price Impact) | 0.0007 |
| Borrowing Factor Long | 2e-8 |
| Borrowing Factor Short | 2e-8 |
| Borrowing Exponent Long | 1 |
| Borrowing Exponent Short | 1 |
| Funding Increase Factor | 200e-14 |
| Funding decrease Factor | 0 |
| Max funding Factor | 2e-8 |
| Min funding factor | 3e-10 |
| Threshold for stable funding | 0.05 |
| Threshold for decrease funding | 0 |
| Min Collateral | 1 |
| Min Position size | 1 |
| Min Collateral Factor | 0.01 |
| Min Collateral Factor OI Long | 2e-8 |
| Min Collateral Factor OI Short | 2e-8 |
| Max Leverage | 100 |
| Max Open Interest Long | 1,000,000 |
| Max Open Interest Short | 1,000,000 |
| Reserve Factor Long | 0.55 |
| Reserve Factor Short | 0.55 |
| Open Interest Reserve Factor Long | 0.5 |
| Open Interest Reserve Factor Short | 0.5 |
| Max PnL Factor Long | 0.9 |
| Max PnL Factor Short | 0.9 |
Chaos Recommendations for AVAX single token market
Prior governance vote & discussion for BTC & ETH single token market
https://snapshot.org/#/gmx.eth/proposal/0xc62340aa5c5e3993bb3b4cd8e0f391bcdc60319032431146fcfba8a7b65b8fdb
