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

Point Dutch Sale with full capital used on the bid #42

Open
martinkrung opened this issue Mar 22, 2021 · 0 comments
Open

Point Dutch Sale with full capital used on the bid #42

martinkrung opened this issue Mar 22, 2021 · 0 comments

Comments

@martinkrung
Copy link
Member

How Point Dutch Sale works right now:

On a bid of 1000 Dai with a price of 2 Dai per token you will make a bid for 500 TKN.
You are guaranteed to get 500 TKN at the end if the bid is above the settlement price. If the settlement results to be 1 Dai you will get 500 TKN for each 1 Dai and 500 Dai back.

This make sense in the real world, if you buy single unique goods in the thousands (Dutch Auction original purpose).
If you bid for 1000 flowers you don't want to end up with 2000 for a cheaper price. You want to get 1000 flowers.

Describe the solution you'd like

If you invest capital, this makes less sens, because you think about the size of your investment and may want to get token for the complete capital.

I think there is easy to change this and having a settlement price which uses the capital you invested to give you the token you allocated capital with.

So in the example you would end up with 1000 TKN for 1000 Dai!

Possible Implementation

I think it's easy if the off-chain calculation works, on-chain this wild consumes more gas than the normal sales because the calculation has some additional complexity.

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