Market parameters

These are the parameters the chain enforces on the cNGN future. Each can change, so read the current value from its getter rather than hard-coding it.

Contracts

Contract	Address on Base
`FutureAsset`	`0xDCFa4Ee0772647aBd24E8592596b5fe4F001Bc19`
MarginEngine	`0xA19E296021c9DF25b90D96C2A0793CC3D0800758`
Index feed	`0xFaC420d160C7c219A72DC676971670980bAC20a5`

The series’ subId is its expiry, 1796047200. Its MarginEngine market ID is 1.

Margin

Read on the MarginEngine.

Parameter	Value	Getter
Initial margin	25% of notional	`futureMarginRequirements(1)`
Maintenance margin	15% of notional	`futureMarginRequirements(1)`
cNGN collateral factor	Set on chain	`baseMarginParams(1)`
Depeg penalty	Set on chain	`depegParams()`

See Margin math.

Mark and band

Read on the FutureAsset. Fractions are 18-decimal: 0.05e18 is 5%.

Parameter	Value	Getter
Contract size	1,000 USDC	`contractSize()`
Mark interval	1 hour	`minMarkInterval()`
Mark move limit	5%	`maxMarkDeviation()`
Index band, widest	10%	`maxMarkIndexDeviation()`
Index band, narrowest	1%	`minMarkIndexDeviation()`
Band narrowing period	14 days	`bandNarrowingPeriod()`
Current band	—	`markIndexBand(expiry)`

See Mark price and bounds.

Open interest

Open interest is capped across both sides. Read the cap with totalPositionCap(manager) on the FutureAsset, passing the MarginEngine.

Settlement

Parameter	Value	Getter
Fixing window	Last hour before expiry	`fixingWindow()`
Max gap between samples	15 minutes	`maxSampleGap()`
Fallback delay	24 hours after expiry	`fallbackDelay()`
Fallback band	2%	`FALLBACK_BAND()`

The settlement price is the time-weighted average of index samples over the fixing window. If a gap between samples is longer than 15 minutes, the fixing is incomplete. A fallback price can then be set after 24 hours, within 2% of the samples’ average.

Index

Parameter	Value
Heartbeat	20 minutes
Max move per update	1.5%

See Index price.

Overview

Collateral and subaccounts

Matching engine

Margin and risk

Stablecoins

Orders

Core services

FAQ

Market parameters

Contracts

Margin

Mark and band

Open interest

Settlement

Index

​Contracts

​Margin

​Mark and band

​Open interest

​Settlement

​Index

Contracts

Margin

Mark and band

Open interest

Settlement

Index