Market Parameters

The Increment protocol is now deployed on zkSync Era mainnet with the following parameters, subject to change through Governance.

Deployed and Verified Contracts on zkSync Era

• UA: 0xfc840c55b791a1DbAF5C588116a8fC0b4859d227

• Vault: 0x703500cAF3c79aF68BB3dc85A6846d1C7999C672

• Insurance: 0xBfE90e7cC908569d102393bf948E6700e6aCc1b3

• Oracle: 0x2eD8857C10dD873CEb2DD29Cfd2227A714465661

• ClearingHouse: 0x9200536A28b0Bf5d02b7d8966cd441EDc173dE61

• ClearingHouseViewer: 0xc8A34A3cfB835018B800c9A50ab0a71149Da13Fb

• Perpetual (ETH): 0xeda91B6d87A257d209e947BD7f1bC25FC49272B6

Only the core user-facing parameters are listed here. Visit the Economic Parameters section in Developer Docs to see the complete list of parameters that governance can change.

System Global Parameters

Parameter	Description	Set As	Contract
minMargin	Minimum maintenance margin	3%	ClearingHouse
minMarginAtCreation	Minimum margin for opening a position	5%	ClearingHouse
minPositiveOpenNotional	Minimum order size	35 USDC	ClearingHouse
liquidationReward	Percent of openNotional paid to liquidator & insurance	1.5%	ClearingHouse

Market Parameters

ETHUSD

Parameter	Description	Set As	Contract
riskWeight	Magnifies user debt by this multiple	3	Perpetual
maxPosition	Maximum position size	5000	Perpetual
maxBlockTradeAmount	Maximum amount that can be traded per timestamp	50,000	Perpetual
insuranceFee	Insurance fee charged	0.10%	Perpetual
twapFrequency	Frequency of TWAP updates	15 mins	Perpetual
sensitivity	Sensitivity of funding rate to divergence between market price and underlying price	3	Perpetual

Pool Parameter	Description	Set As	Contract
A	Higher A increases liquidity concentrated around current price (when pool is near balance).	400000	CryptoSwap
gamma	Controls breadth of curve + can fine tune extremes. Higher gamma moves liquidity from tails closer to the center.	0.000145	CryptoSwap
mid_fee	Fee when the pool is maximally balanced. This is the minimum fee. The fee is calculated as mid_fee * f + out_fee * (10^18 - f)	0.26%	CryptoSwap
out_fee	Fee when the pool is imbalanced. Must be larger than the Mid Fee and represents the maximum fee.	0.45%	CryptoSwap
allowed_extra_profit	Liquidity re-concentration can only occur if the resulting repegging_loss < (current_profit / 2 - allowed_extra_profit). So allowed extra profit is the extra profit allowed/required to be preserved while rebalancing.	0.000002	CryptoSwap
fee_gamma	Controls how quickly fees increase (from fee mid to fee out) with greater imbalance.	0.00023	CryptoSwap
adjustment_step	Minimum size of price scale adjustments	0.000146	CryptoSwap
ma_half_time	The EMA half life (s) used by the price oracle to dampen the effect of changes.	600s	CryptoSwap

• 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. This is the recommended preset for the CryptoSwap pool. However, the minimum possible value for mid_fee is 0.005% and can be changed in the future via Curve governance.

• 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.