DragonX/hush3
1
1
Fork 0
Code Issues Pull Requests Actions Packages Projects Releases 1 Wiki Activity

Update

Browse Source
This commit is contained in:
jl777
2019-04-08 02:47:02 -11:00
parent 07f9635bd0
commit 74aa8a9536
1 changed files with 3 additions and 0 deletions
Download Patch File Download Diff File Expand all files Collapse all files

3
src/cc/pegs.cpp
View File

@@ -53,6 +53,9 @@ pegs CC is able to create a coin backed (by any supported coin with gateways CC
(1000 KMD, -1200 USD, 200KMD reserve, -160KMD, issue $1600 USD, 40 KMD reserve) 1000 KMD with 2800 USD issued so $2200 reserves. Let us assume it can be liquidated at a 10% discount, so for $2000 in addition to the $2800, the 5000 KMD is able to be withdrawn. This removes 4800 USD coins for 1000 KMD, which is a very low reserve amount of 4%. If a low reserve amount is removed from the system, then the global reserve amount must be improved.
In addition to the global reserves calculation, there needs to be a trigger percentage that enables positions to be liquidated. We also want to liquidate the worst positions, so in addition to the trigger percentage, there should be a liquidation threshold, and the liquidator would need to find 3 or more better positions that are beyond the liquidation threshold, to be able to liquidate. This will get us to at most 3 accounts that could be liquidated but are not able to, so some method to allow those to also be liquidated. The liquidating nodes are making instant profits, so they should be expected to do whatever blockchain scanning and proving to make things easy for the rest of the nodes
Now, we have a decentralized mechanism to handle the price going lower! Combined with the fully decentralized method new USD coins are issued, makes this argubably the first decentralized blockchain that is both backed and pegged. There is the reliance on the gateways CC multisig signers, so there is a fundamental federated trust for chains without intrinsic value.
Also, notice that the flexibly syntax of prices CC allows to define pegs easily for virtually any type of synthetic, and all the ECB fiats can easily get a backed and pegged coin.