Liquidator + PriceFeed + ReservePool #43
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I'm a bit concerned about the IOUs. Due to the Time Value of Money, the value of the redeemed IOUs will be less than the amount owed. The receiver could have otherwise invested the money he uses to purchase the IOUs, thus earning a return higher than what the IOUs can offer. Will people be incentivized to buy and hold IOUs?
edit: I'm reading that the IOUs have a step function and there's a max price. was there any reason why 50% was chosen as the max, instead of 100% (or greater)?
also, follow up question: do you expect that the peg would break if the system were to issue IOUs that are redeemable for less than $1 per AUR?
| collTypes[collId].ftso = ftso; | ||
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| function updateMinCollRatio(bytes32 collId, uint256 newMinCollRatio) |
contracts/probity/PriceFeed.sol
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| collTypes[collId].minCollRatio = minCollRatio; | ||
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| function updateFtso(bytes32 collId, ftsoLike newFtso) onlyBy("gov") { |
We are allowing user to redeem their IOU at any time (assuming the system have reserve to be redeemed), if the system is working properly and keep accumulating reserve, user will be able to redeem their IOU within a short period of time. Since iousPerAur start at 1 and it incrementally increases as time passes, user will be able to get "interest" on the risk they are taking. We can change this value to increase incentive.
I just chose an arbitrary number for now, they should be changeable via governance
No, because as long as |
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#51 replaces this PR, closing |
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