Added global settlement for dependent MPAs
This commit is contained in:
parent
207a44bda1
commit
e07a56a769
1 changed files with 24 additions and 0 deletions
24
bsip-0017.md
24
bsip-0017.md
|
@ -250,6 +250,30 @@ event on an asset and the revival of that same asset. The parameter will be
|
|||
modifiable by the committee and defaults to 4 weeks (28 days). See discussion
|
||||
below.
|
||||
|
||||
### Dependent MPAs
|
||||
|
||||
If at the time of global settlement an MPA exists that is backed by the settled
|
||||
asset, that dependent MPA is also settled.
|
||||
|
||||
Additionally, it will be forbidden to create assets backed by bitAssets that
|
||||
have a settlement_price.
|
||||
|
||||
The reason for this is that after global settlement the settled asset is no
|
||||
longer pegged to its "real" counterpart. For example, suppose that an asset
|
||||
bitGOLD_USD exists that is supposed to represent the value of an amount of gold
|
||||
and is backed by an amount of bitUSD (which is supposed to be pegged to the
|
||||
US-Dollar). After bitUSD has suffered a black swan, bitUSD is no longer pegged
|
||||
to USD. Instead, bitUSD represents a fixed amount of BTS, defined by the
|
||||
settlement_price.
|
||||
|
||||
Supposedly, the price feed for bitGOLD_USD will continue to follow the gold
|
||||
price in terms of US-Dollars, which will quickly deviate from the actual worth
|
||||
of bitGOLD_USD, which is really defined by the BTS price at that time. This will
|
||||
lead to confusion and anger among market participants. It is therefore
|
||||
reasonable to put bitGOLD_USD into the same state of limbo as the backing USD.
|
||||
|
||||
This change requires further discussion.
|
||||
|
||||
# Discussion
|
||||
|
||||
## minimum_time_before_asset_revival
|
||||
|
|
Loading…
Reference in a new issue