[DRC] Wind Down 15 Dead and Low-Activity Markets

Proposals
1

Summary

This proposal seeks to wind down and move the following 15 markets to final settlement:

XDC-USD
BERA-USD
BEAM-USD
AXS-USD
AVNT-USD
CAKE-USD
PEOPLE-USD
ASTR-USD
FARTCOIN-USD
FLOKI-USD
MET-USD
DRIFT-USD
ENS-USD
SYRUP-USD
POPCAT-USD

These markets have shown limited recent trading activity, low open interest, and wide bid-ask spreads.

Rationale

The selected markets exhibit weak market activity and limited effective liquidity. Several markets had no cumulative volume in July, while the remaining markets had only minimal activity during the month.

Market details:

  • XDC-USD: last traded on June 6, 2026, no July cumulative volume, $181.45 open interest, 40.02% bid-ask spread

  • BERA-USD: last traded on June 10, 2026, no July cumulative volume, $8.44 open interest, 10.85% bid-ask spread

  • BEAM-USD: last traded on June 11, 2026, no July cumulative volume, $411.93 open interest, 11.89% bid-ask spread

  • AXS-USD: last traded on June 21, 2026, no July cumulative volume, $130.13 open interest, 8.97% bid-ask spread

  • AVNT-USD: last traded on June 25, 2026, no July cumulative volume, $7.75 open interest, 12.04% bid-ask spread

  • CAKE-USD: last traded on June 27, 2026, no July cumulative volume, no open interest, 9.35% bid-ask spread

  • PEOPLE-USD: last traded on July 10, 2026, $415.18 July cumulative volume, $12.60 open interest, 10.03% bid-ask spread

  • ASTR-USD: last traded on July 13, 2026, $703.32 July cumulative volume, $124.79 open interest, 12.06% bid-ask spread

  • FARTCOIN-USD: last traded on July 19, 2026, $69.77 July cumulative volume, $11.10 open interest, 7.54% bid-ask spread

  • FLOKI-USD: last traded on July 27, 2026, $12,608.00 July cumulative volume, $828.33 open interest, 9.13% bid-ask spread

  • MET-USD: last traded on July 28, 2026, $4,932.09 July cumulative volume, $59.03 open interest, 11.86% bid-ask spread

  • DRIFT-USD: last traded on July 29, 2026, $52.33 July cumulative volume, $68.17 open interest, 12.17% bid-ask spread

  • ENS-USD: last traded on July 29, 2026, $863.22 July cumulative volume, $283.43 open interest, 17.27% bid-ask spread

  • SYRUP-USD: last traded on July 29, 2026, $752.30 July cumulative volume, $97.52 open interest, 13.03% bid-ask spread

  • POPCAT-USD: last traded on July 30, 2026, $1,358.77 July cumulative volume, $15.96 open interest, 11.40% bid-ask spread

Markets with low trading activity, limited open interest, and persistently wide spreads do not provide meaningful execution quality and reduce overall market efficiency.

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Motivation

Delisting these markets will:

  • Improve overall market quality and trading experience

  • Reduce operational and oracle overhead

  • Keep the product offering focused on active markets

  • Maintain a cleaner and more capital-efficient trading environment

Technical Implementation

The proposal will:

  • Disable the affected markets

  • Transition all listed pairs to STATUS_FINAL_SETTLEMENT

  • Disable associated price feeds

Timeline

This proposal follows the scheduled delisting process:

  • Friday, July 31, 2026: Forum post

  • Tuesday, August 4, 2026: On-chain vote

  • Friday, August 7, 2026: Markets delisted

We welcome community feedback prior to submitting this proposal for an on-chain governance vote.