协议变更

Contract version 2#

• Settlement price is the Binance USDⓈ-M index price (BTCUSDT, ETHUSDT), signed by the protocol price signer and verified on-chain in the settling transaction. A price is accepted only within the window [now − 3000 ms, now + 2000 ms] and never older than the last price used.
• Signed orders carry optional price conditions: limit orders, take-profit and stop-loss. The contract re-checks every condition at settlement.
• Token named Shadow Paper (SPAPER). SPAPER is minted only on losing closes and liquidations; liquidations mint on the margin net of the LP-side fee. Transfers are disabled; a one-way transfer unlock exists and can only be executed through the 24-hour Timelock.
• Winning closes pay a 2% win fee after the deadband and the asymmetric-impact scale; one standard payout curve applies at all hours. Half of every fee goes to SPAPER stakers.
• The LP reserve line (initially 5,000,000 USDT) is a Timelock-governed parameter. Lowering it releases LP cash only to SPAPER stakers through the dividend path. A line below 5,000,000 USDT takes effect only after the Timelock switches on wind-down and trading is paused with no open positions and an empty payout queue.
• The price freshness window, mint curve constants and dev fee recipient are Timelock-governed parameters (24-hour delay).
• Close and liquidation settlement runs in an external library (SettleLib) to fit contract size limits; results are unchanged.
• Session keys default to 30 days, matching the contract maximum and the longest order lifetime.
• 20% of the dev fee share is used to buy back and burn SOLON; invite rebates are paid from the dev share.