Pre-Markets

Pacifica uses an alternate mark and oracle pricing mechanic for pre-markets that are not listed on major exchanges.

When Pacifica lists pre-markets that are not on other major exchanges, the oracle references Pacifica's mark price instead of external sources. An EMA is also applied to prevent oracle manipulation. This, combined with Pacifica's price band mechanic (+-30% of mark price) prevents extreme manipulation of pre-market perps. Once other major venues begin listing the same market, their pricing will be added to Pacifica's oracle reference in order to further strengthen its robustness. Additionally, Pacifica exercise strict open interest caps in pre-market pairs to prevent abnormal trading activity and market manipulation.