On Omni, perps markets are permissionlessly listed, which means that they are automatically listed once they hit certain criteria:

  • There must be a suitable oracle to construct the index price from. This criteria can be fulfilled by having an exchange listing (e.g., on Coinbase) or an AMM pool (e.g., on Uniswap) with sufficient liquidity.

  • Minimum activity requirements: minimum market cap, 24h trading volume, and liquidity requirements.

  • Decentralization requirements: no one holder of the token can be too large, and no group of holders can be too large as a % of the circulating supply.

  • Security checks: we check the contract code to make sure there is no harmful code, including honeypots, transfer restrictions, etc.

Additionally, markets may be delisted if they fail to sustain the requirements. A delisting means all positions will be closed at the settlement price. The settlement price is an exponentially weighted moving average of the instrument price at the time of the delisting.

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