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4 changes: 2 additions & 2 deletions injective-chain/modules/exchange/spec/04_state_transitions.md
Original file line number Diff line number Diff line change
Expand Up @@ -394,7 +394,7 @@ The update of spot market param is handled by `SpotMarketParamUpdateProposal` wh
- `ValidateBasic` for proposal
- Get spot market by `p.MarketId` and if not exist, revert
- Reset the params for `MakerFeeRate`, `TakerFeeRate`, `RelayerFeeShareRate`, `MinPriceTickSize`, `MinQuantityTickSize` and `Status` if not empty, if empty keep as it is.
- Validate `MakerFeeRate` is bigger than `TakerFeeRate`.
- Validate that `MakerFeeRate` should not be bigger than `TakerFeeRate`.

## Derivative market param update proposal

Expand All @@ -405,7 +405,7 @@ Derivative market param update is handled by `DerivativeMarketParamUpdateProposa
- `ValidateBasic` for proposal
- Validate Derivative market exists by `p.MarketId` and if not exist, revert
- Reset the params for `InitialMarginRatio`, `MaintenanceMarginRatio`, `MakerFeeRate`, `TakerFeeRate`, `RelayerFeeShareRate`, `MinPriceTickSize`, `MinQuantityTickSize` and `Status` if not empty, if empty keep as it is.
- Validate `MakerFeeRate` is bigger than `TakerFeeRate`.
- Validate that `MakerFeeRate` should not be bigger than `TakerFeeRate`.
- Validate `InitialMarginRatio` is bigger than `MaintenanceMarginRatio`.
- Schedule Derivative market param update and update finalization on Endblocker - **Note:** this is due to the orders update for derivative market param update - should make sure nothing panics here.

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