> ## Documentation Index
> Fetch the complete documentation index at: https://mintlify.com/p2pdotme/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# Protocol Parameters

> Configurable parameters for pricing, risk, fees, and operations

Protocol behavior is heavily parameterized rather than hardcoded because markets differ. A spread that works for INR/USDC on UPI rails would be wrong for BRL/USDC on PIX. Parameterization lets the protocol adapt per-currency without redeploying contracts.

## Pricing and Spread

Base spread and price bump by currency, adjusted for local liquidity conditions.

## Risk Limits

Min stake, volume caps, RP-per-USDT limits, and max tx limits. These gate how much risk the protocol takes per merchant and per user.

## Fee Controls

Merchant fee percentage and small-order fixed fees, tuned to make micro-transactions viable without subsidizing them.

## Operational Controls

Currency and payment-channel activation lifecycles.