Leverage v2 migration Q&A in the discord.
19 May 2023, 18:06
Leverage v2 migration Q&A in the discord
next friday we discuss details on how the migration process will go for the new perp terminal + v2 leverage contracts
tldr: contracts testing is wrapped up for v2. The old trading contract which houses all positions will be replaced which means all orders will enter closing/reduce only mode. New margin/orders will not be accepted by the keeper and all margin will not be closable after the migration. Naturally there will be a downturn in volume as orders will be closing only.
More details will be given next friday but until then you can read the contract upgrades and protocol upgrades done found in our latest wrap up 👇
for those checking in after the Q&A, note there is some key differences to orderflow as things have been rebuilt from the ground up
price impact is more strict but much less spread as orders internally move the market. This means real price discovery for trades and room for arbitrage. Every order will have a minimum keeper fee similar to GMX, but fees are no longer fixed but rather dynamic based on the open interest skew like a seesaw.
For more details we suggest reading the article linked above