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With the upcoming implementation of SIP-2013: Dynamic Fuel Payment Module, Synthetix has launched an replace to Synthetix Perps to reinforce the perps keeper system, making it extra decentralized and resilient in response to fuel worth spikes.
Please notice that the dynamic fuel charge module isn’t stay but, and shall be applied over the subsequent 48 hours.
The Problem with the Flat Payment Keeper Reward
Previous to the implementation of the dynamic fuel charge module, keepers had been paid a flat charge for executing off-chain perps orders. Keeper charges had been raised twice by means of SCCP’s 271 & 2001 from $1 to $4.
Nonetheless, this flat charge system proved insufficient in protecting fuel prices for order execution and could not correctly incentivize neighborhood keepers, as fuel prices usually exceeded the rewards earned from order execution.
The Significance of Keepers in Synthetix Perps
Keepers play an important position within the Synthetix Perps ecosystem by automating core functionalities: delayed order executions, delayed off-chain order executions, and liquidations. They’re rewarded in sUSD by merchants for executing orders. Decentralization is vital and the Synthetix neighborhood encourages customers and companions to run their very own keepers, enhancing community reliability.
Introducing the Dynamic Fuel Payment Module
The dynamic fuel charge module is designed to regulate the minKeeperFee inside bounds set by governance, permitting the system to adapt to various fuel costs and guaranteeing a decentralized community of keepers stays cost-effective.
With this module in place, the minKeeperFee shall be calculated primarily based on on-chain variables, such because the ETH/USD worth, L1 and L2 fuel costs, and a specified revenue margin. This method ensures keepers are adequately compensated for order execution, making the system extra environment friendly and safe.
The Advantages of the Dynamic Fuel Payment Module
By implementing the dynamic fuel charge module, Synthetix will enhance its keeper system by:
Guaranteeing keepers are pretty rewarded for order execution, encouraging extra customers to run their very own keepers.Making the keeper system extra resilient to fluctuating fuel pricesEnhancing decentralization inside the Synthetix Perps ecosystem, contributing to community stability and reliability.
In conclusion, the dynamic fuel charge module represents a big step ahead in optimizing the keeper system on Synthetix Perps.
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