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[.25] Request: show a warning about core_exchange_rate at asset create/update page #52

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svk31 opened this issue Jan 19, 2017 · 1 comment
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[3] Feature Classification indicating the addition of novel functionality to the design
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@svk31
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svk31 commented Jan 19, 2017

From @abitmore on March 23, 2016 13:10

The fact:

  1. half of asset creation fee will go to the fee pool.
  2. funds in the fee pool belongs to the asset issuer, and it can be withdrawn safely if no outstanding asset exists (a bit tricky though)
  3. any asset holder can sell the asset back to the issuer at core_exchange_rate if the fee pool is not empty. If the issuer didn't set the rate correctly/safely, funds in the fee pool is unsafe. See https://cryptofresh.com/u/asshole1 and https://cryptofresh.com/u/acc12 for example.

Copied from original issue: cryptonomex/graphene-ui#796

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svk31 commented Jan 19, 2017

From @abitmore on March 26, 2016 9:42

See http://docs.bitshares.org/bitshares/user/assets-faq.html#fee-pool

Warning
Make sure your core exchange rate is higher than the lowest ask, otherwise, people will buy your token from the market and drain your fee pool via implicit arbitrage.

@wmbutler wmbutler added the [3] Enhancement Classification indicating a change to the functionality of the existing imlementation label Jul 21, 2017
@wmbutler wmbutler added [3] Feature Classification indicating the addition of novel functionality to the design and removed [3] Enhancement Classification indicating a change to the functionality of the existing imlementation labels Oct 17, 2017
@wmbutler wmbutler added this to the 171101 milestone Oct 17, 2017
@wmbutler wmbutler changed the title Request: show a warning about core_exchange_rate at asset create/update page [.25] Request: show a warning about core_exchange_rate at asset create/update page Oct 23, 2017
@svk31 svk31 closed this as completed in 5b7a27d Oct 30, 2017
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