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

MVM: Avoid delayed claim issue by adding claimable from reimbursed #271

Merged
merged 1 commit into from Oct 3, 2017

Conversation

nberger
Copy link
Contributor

@nberger nberger commented Oct 2, 2017

NOTE: This issue was only affecting the amount that the foundation would be able to claim from the MVM after there were some reimbursements made to token holders (via sendTokens transactions). We think the impact was not really high because it only delays the amount that the foundation could claim for the burned tokens (only for those tokens) depending on when the sendTokens tx is made:

  • If the sendTokens tx is made early on the MVM lifetime, the amount that the foundation could claim from those tokens is super low, because of the distribution curve that follows an exponential distribution where the distribution amounts are low at the beginning and high approaching the end of the lifetime).

  • If the sendTokens tx is made later, then even though the amount that the foundation could claim from those tokens would be higher, but having to wait until the end of MVM lifetime is not as high of an impact, precisely because the end of the MVM lifetime is close.

Detailed explanation

Reimbursed ether in exchange of tokens in the MVM reduces the circulation which is involved in calculating the max claimable wei amount by the foundation, effectively delaying the amount claimable from those tokens until the MVM lifetime finishes. To recover that amount and avoid the delayed claim issue, we have to calculate and add the claimable from the burned tokens as the difference between the max amount claimable from those tokens (at the beginning of the MVM, using initialBuyPrice) and the amount effectively reimbursed.


Thanks to CoinFabrik for reporting this issue as part of their exhaustive LifToken audit!

Reimbursed ether in exchange of tokens in the MVM reduces the circulation which
is involved in calculating the max claimable wei amount by the foundation,
effectively delaying the amount claimable from those tokens until the MVM
lifetime finishes. To recover that amount and avoid the delayed claim issue,
we have to calculate and add the claimable from the burned tokens as the
difference between the max amount claimable from those tokens (at the
beginning of the MVM, using initialBuyPrice) and the amount effectively
reimbursed
@nberger nberger self-assigned this Oct 2, 2017
@nberger nberger requested a review from AugustoL October 2, 2017 17:53
@coveralls
Copy link

Coverage Status

Coverage increased (+0.3%) to 88.047% when pulling 0f69ce4 on avoid-mvm-delayed-claim into 9164e16 on master.

@nberger nberger merged commit 176b047 into master Oct 3, 2017
@nberger nberger deleted the avoid-mvm-delayed-claim branch October 3, 2017 15:24
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

Successfully merging this pull request may close these issues.

None yet

3 participants