Skip to content
New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

Allow self-custody #1

Open
gabririgo opened this issue Aug 19, 2019 · 0 comments
Open

Allow self-custody #1

gabririgo opened this issue Aug 19, 2019 · 0 comments

Comments

@gabririgo
Copy link
Contributor

gabririgo commented Aug 19, 2019

Summary

The current protocol design prevents tokens from being held outside of either the token pools smart contracts or preapproved deposit contracts. The improvement will allow, under certain conditions, for the pool operator to using self-custody solutions.

Motivation

There is a strong demand for cold storage solutions, which are not possible in the current implementation of the protocol. The implementation of self-custody allows for using cold-storage, meeting the traders' requirements. It allows further risk-diversification possibilities, with more complex strategies (arbitrage/hedging/market-making). It provides a bridge with legacy, highly secure service providers and is up to the standards of the industry. It also allows a quick way of implementing integrations with decentralized exchanges, given their short history and continuous breaking changes in their apis.

Specification

  • Implementation into an Drago.sol extension smart contract.
  • The necessary condition is that pool operator holds a minimum GRG amount for certain thresholds
  • threshold levels and amounts required based on pi number.

Rationale (if a suggestion is proposed)

Meet market demand, get in parallel with industry standards, offer more heavy tested storage possibilities, open for off-chain/off-protocol trading by the pools operators.

Thresholds

Transfer Amount (ETH) GRG required
[ 0 : 3.141592 [ 0
[ 3.141592 : 9.8696 [ 98
[ 9.8696 : 31 [ 307
[ 31 : +++ ] 962

Notes

Pi number is an allegory of life. It was chosen as an arbitrary base value to make calculations, reminding the reader of how many complex solutions can be used to approximate the value of pi, with an exponential increase in computation required in relation to precision of the estimate. It is not randomly chosen, as the self custody solution is deemed to be sufficient given the current stage of development and adoption of smart contracts technology.

gabririgo added a commit that referenced this issue Aug 19, 2019
Sign up for free to join this conversation on GitHub. Already have an account? Sign in to comment
Labels
None yet
Projects
None yet
Development

No branches or pull requests

1 participant