Numerical Error - Default tickSizes

Dear Community,

Our team noticed a numerical error in the default tickSizes for spot markets, we have already modified them and we will also display these values on the front-end from here on as we do for perpetual swaps and futures. Unfortunately the currently proposed markets can’t be actually integrated on the DEX. We will vote for No or Abstain with the foundation validators and reach quorum to ensure that you will receive back your initial deposit even if the proposals are rejected. Of course we will deposit for the proposals in the depositPeriod and vote for them as well.

ERC-20 token contracts are defined by the contract’s address and the total supply of the token but they also have other properties such as the number of decimals. The decimals refer to the fungibility of the token or in other words how divisible a token can be. Solidity doesn’t offer support for fixed-point numbers, they only support various flavors of integers, this presents a challenge with fractional units and it’s therefore necessary to simulate fixed-point numbers explicitly. This is done by having a scaling factor which is denoted by the value of decimals and it essentially indicates the number of 0’s to the right of the decimal point of a given token. Of course this complexity is abstracted away from the end user and we handle the scaling behind the scenes.

The precision on order amounts depends on the decimals of a given token and the minimum tickPrice refer to the minimum price movement of a trading instrument in a given market whereas the minimum tickSize refers to the minimum quantity.

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Thanks Achilleas for the heads up. Does this apply for the proposals currently under deposit also? And also, If I make a new SPOT market proposal, will that be integrated into the DEX?

Yes, we will ensure that the ones in the depositStage will pass and vote for No/Abstain. Sure you can make a new one, we have already added these fields on the front-end.

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Prop 7 for the USDT/USDC spot market suffers not precise enough tick sizes, as the MinPriceTickSize is only 0.001, meaning individuals will only be able to post prices with 0.001 USDC precision, instead of 0.0001 USDC precision (e.g. see Binance’s BUSD/USDT spot market which has 4 digits of decimal precision 0.9997 | BUSDUSDT | Binance Spot).

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