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0.0.12 - Futures #366

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patrickdugan opened this Issue Apr 26, 2016 · 1 comment

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commented Apr 26, 2016

It seems like the best strategy may be to just use this next dev cycle to do what we've wanted to do for a long time, natively, rather than try to open up interoperability with other tech just yet.

This issue supersedes the Subscribe tx and Reserve Property issues. Full write up here.

Core text:

What should go in 0.0.12?

Bitcoin Core 0.12 merge

Publish Futures Contract tx

Creates a set of new smart properties, at least 2, N blocks between their expiration.
Signed integer balance, indivisible units.

Reserves some smart property # as its collateral, N units per contract.
Has notional value that can be greater than reserves.

Settles based on an oracle address or based on the volume-weighted average price of a Dex spot trading pair over the past N blocks. (parameters either an address or two smart property id’s, order matters).

Trade Futures Contract

Needs a different tx type than standard Dex trades.

Trade is not invalid if sell amount is greater than current supply.

Trade price is encoded in the op_return when trades are executed rather than being implied in the ratio of smart properties swapped.

Fee logic - if an oracle based contract, .01% of notional value, in the form of the underlying collateral (e.g. some OMNI, some USDT) goes to the oracle address, .01% goes to OMNI. If a blockchain price-based settlement, .01% goes to the maker (person providing the order that was matched) and .01% goes to OMNI. Contract using OMNI as collateral have .01% fee that goes to either the blockchain address or maker.

Publish Data
Address that is the settlement feed for a given contract, should be multi-sig, pubkeys correspond to setting up sidechain, sidechain regulates cheating on the part of the reporters.

Possibly the short-cut to representing Omnilayer value as collateral for the regulating Credits/Tendermint app is to have that balance on the multi-sig address, or possibly on a separate, 4-of-4 address formed by the same pub-keys, while publication is on the 3-of-4.

Transaction payload itself is pretty straight-forward, most of the concern here is outside the protocol.

Settlement logic

Transactions between addresses to settle contracts as their balances all zero out on the pre-appointed settlement block, using reserved balance.

Logic for taking all recorded trade prices and coming up with the settlement transaction values implemented in the protocol’s parsing rules:

  1. Has there been some futures contract expiration this block?

  2. If yes, index all trades involving this contract.

  3. Create transactions based on the difference for each set of addresses (optional, apply netting logic and save on the # of inputs required for the settlement).

Atomic Transactions (Optional)

Allow transactions to be formed where the balance is associated with some satoshis, apply multisig logic so this collateral can be swapped to other addresses as needed.

Untag satoshis to return to address format when the need for a hard swap or collateral (i.e. money pending swap) is finished so users don’t have to hassle with the custodial risk of their liquid capital hinging on mis-placed Satoshis.

SPV wallet for faster trading of futures based on Atomic collateral.

@patrickdugan patrickdugan changed the title 0.0.12 - Futures 0.0.12 - Futures Consensus Feature Apr 26, 2016

@patrickdugan patrickdugan changed the title 0.0.12 - Futures Consensus Feature 0.0.12 - Futures Apr 26, 2016

@dexX7 dexX7 added the CFDs label Jul 30, 2016

dexX7 pushed a commit that referenced this issue Jan 23, 2017

Squashed 'src/secp256k1/' changes from 6c527ec..8225239
8225239 Merge #433: Make the libcrypto detection fail the newer API.
12de863 Make the libcrypto detection fail the newer API.
2928420 Merge #427: Remove Schnorr from travis as well
8eecc4a Remove Schnorr from travis as well
a8abae7 Merge #310: Add exhaustive test for group functions on a low-order subgroup
b4ceedf Add exhaustive test for verification
83836a9 Add exhaustive tests for group arithmetic, signing, and ecmult on a small group
20b8877 Add exhaustive test for group functions on a low-order subgroup
80773a6 Merge #425: Remove Schnorr experiment
e06e878 Remove Schnorr experiment
04c8ef3 Merge #407: Modify parameter order of internal functions to match API parameter order
6e06696 Merge #411: Remove guarantees about memcmp-ability
40c8d7e Merge #421: Update scalar_4x64_impl.h
a922365 Merge #422: Restructure nonce clearing
3769783 Restructure nonce clearing
0f9e69d Restructure nonce clearing
9d67afa Update scalar_4x64_impl.h
7d15cd7 Merge #413: fix auto-enabled static precompuatation
00c5d2e fix auto-enabled static precompuatation
91219a1 Remove guarantees about memcmp-ability
7a49cac Merge #410: Add string.h include to ecmult_impl
0bbd5d4 Add string.h include to ecmult_impl
353c1bf Fix secp256k1_ge_set_table_gej_var parameter order
541b783 Fix secp256k1_ge_set_all_gej_var parameter order
7d893f4 Fix secp256k1_fe_inv_all_var parameter order
c5b32e1 Merge #405: Make secp256k1_fe_sqrt constant time
926836a Make secp256k1_fe_sqrt constant time
e2a8e92 Merge #404: Replace 3M + 4S doubling formula with 2M + 5S one
8ec49d8 Add note about 2M + 5S doubling formula
5a91bd7 Merge #400: A couple minor cleanups
ac01378 build: add -DSECP256K1_BUILD to benchmark_internal build flags
a6c6f99 Remove a bunch of unused stdlib #includes
65285a6 Merge #403: configure: add flag to disable OpenSSL tests
a9b2a5d configure: add flag to disable OpenSSL tests
b340123 Merge #402: Add support for testing quadratic residues
e6e9805 Add function for testing quadratic residue field/group elements.
efd953a Add Jacobi symbol test via GMP
fa36a0d Merge #401: ecmult_const: unify endomorphism and non-endomorphism skew cases
c6191fd ecmult_const: unify endomorphism and non-endomorphism skew cases
0b3e618 Merge #378: .gitignore build-aux cleanup
6042217 Merge #384: JNI: align shared files copyright/comments to bitcoinj's
24ad20f Merge #399: build: verify that the native compiler works for static precomp
b3be852 Merge #398: Test whether ECDH and Schnorr are enabled for JNI
aa0b1fd build: verify that the native compiler works for static precomp
eee808d Test whether ECDH and Schnorr are enabled for JNI
7b0fb18 Merge #366: ARM assembly implementation of field_10x26 inner (rebase of #173)
001f176 ARM assembly implementation of field_10x26 inner
0172be9 Merge #397: Small fixes for sha256
3f8b78e Fix undefs in hash_impl.h
2ab4695 Fix state size in sha256 struct
6875b01 Merge #386: Add some missing `VERIFY_CHECK(ctx != NULL)`
2c52b5d Merge #389: Cast pointers through uintptr_t under JNI
43097a4 Merge #390: Update bitcoin-core GitHub links
31c9c12 Merge #391: JNI: Only call ecdsa_verify if its inputs parsed correctly
1cb2302 Merge #392: Add testcase which hits additional branch in secp256k1_scalar_sqr
d2ee340 Merge #388: bench_ecdh: fix call to secp256k1_context_create
093a497 Add testcase which hits additional branch in secp256k1_scalar_sqr
a40c701 JNI: Only call ecdsa_verify if its inputs parsed correctly
faa2a11 Update bitcoin-core GitHub links
47b9e78 Cast pointers through uintptr_t under JNI
f36f9c6 bench_ecdh: fix call to secp256k1_context_create
bcc4881 Add some missing `VERIFY_CHECK(ctx != NULL)` for functions that use `ARG_CHECK`
6ceea2c align shared files copyright/comments to bitcoinj's
70141a8 Update .gitignore
7b549b1 Merge #373: build: fix x86_64 asm detection for some compilers
bc7c93c Merge #374: Add note about y=0 being possible on one of the sextic twists
e457018 Merge #364: JNI rebased
86e2d07 JNI library: cleanup, removed unimplemented code
3093576 JNI library
bd2895f Merge pull request #371
e72e93a Add note about y=0 being possible on one of the sextic twists
3f8fdfb build: fix x86_64 asm detection for some compilers
e5a9047 [Trivial] Remove double semicolons
c18b869 Merge pull request #360
3026daa Merge pull request #302
03d4611 Add sage verification script for the group laws
a965937 Merge pull request #361
83221ec Add experimental features to configure
5d4c5a3 Prevent damage_array in the signature test from going out of bounds.
419bf7f Merge pull request #356
03d84a4 Benchmark against OpenSSL verification

git-subtree-dir: src/secp256k1
git-subtree-split: 8225239
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commented Mar 19, 2018

I think it's better to keep track of the specification or feature proposals in the spec repository:

https://github.com/OmniLayer/spec

Please feel free to open a new issue over there.

@dexX7 dexX7 closed this Mar 19, 2018

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