Release of the full eDollar product will be early 2016 or Homestead. We're releasing earlier modules, such as Makercoin (already deployed), and Maker CFD's are coming soon. There's still a very...
what is the status on this now? Ready to go live?
@rune: A question for you. Assume You create this stablecoin scheme on Ethereum main-net when it launches. The contract is structured so that part of ETH received by contract through stakin...
Yes I fully agree that organized market making is integral to its success, and thats the point of MKR. It will generate income by staking with the collateral, and use part of that income for mark...
As pointed out by the insight quoted below by martinBrown1984, eDollar will need market makers or credit providers for market depth, too, not much different from Nu in reality. Trust-less liquidi...
In addition to having the quasi-centralized backer/liquidity provider that nubits has, the edollar is simultaneously on-chain collateralized by ether (like bitUSD) meaning that the peg is "trust ...
How is this different from /r/NuBits which is open source and already stable for over six months?
I agree with all that. I think the volatility is really the biggest thing limiting Bitcoin's usefulness and adoption and that a "SV" system (whether it's based on hedging or some more exotic mech...
I've read it and I think it's very interesting, and would love to see it implemented. The reason why I didn't comment, and generally haven't written/discussed the seignorage shares type systems i...
Just wanted to make sure you saw this conversation, and my comment: https://www.reddit.com/r/ethereum/comments/3170ak/stablish_coin_with_proposed_nonmagic_oracle/cq24xwj I think a pegged coi...
Here are examples for modifier functions. It's basically a "wrapper" (sort of like Python's decorators). https://github.com/ethereum/wiki/wiki/Solidity-Tutorial#function-modifiers re: inline i...
Excellent idea, but then you should get a reference from the most stable currency, is it USD, EUR, CNY, CHF, JYN, GBP?
I'm hoping to also have ECNY at launch, but backed by EUSD rather than ether (so people who want to issue/short CNY will only have to take the usd/cny volatility into consideration).
If EUSD is targeted at 1 USD then it will never actually trade at that price, it will always trade just around it at a spread. The real thing that's supposed to be tested for is actually just "is...
> When the ether market is in an upward trend, everything's fine and > everyone's happy ("blue skies" all around). Its when the trend > reverses that there will be a ...
Do you know if there is a difference in the gas costs for doing a public mapping or making the get function manually? > Also, checking if msg.sender == guardian could be neater with >...
> Is there any reason why a person couldn't use bitUSD as the external > means of interest on USD as you suggest essentially using it as a > hedge? Provided that bitUS...
> There will always be traders who want to go long or short. Only if you live in a world with perfect market liquidity. > This combination (the locked coins and CFD) can b...
Not to downplay the actual work, but imho the most important bit is something we can all understand: > I was delighted to find out that even with just my meager > programming skil...
> If EUSD is currently trading above 99 cents, then anyone can issue > new EUSD by putting up 3 USD worth of ether as collateral for every > 1 EUSD (300% collateral�...
> The market making will be using a system of arbitrage where they > only trade btc/eusd, and then hedge all btc positions instantly on a > market like bitfinex That's...
> But theoretically, if an interest rate targeting mechanism is added, > then users that have access to an external means of getting interest > on usd (eg. bank deposit...
This particular e-dollar doesn't seem to. But theoretically, if an interest rate targeting mechanism is added, then users that have access to an external means of getting interest on usd (eg. ban...
Will the eDollar earn a yield similar to bitUSD?
Stablecoins are basically just a wrapper for CFDs that lets them act more like currencies by removing the active management requirement from the user and having it instead be dealt with by a spec...
> Why not create a sort of ETF with 100.000 dollar worth of ETH and at > the same time sell CDF-contract's with the same underlying value. In order to do that, someone h...
Would it be easy to duplicate this for other currencies? eEUR, eCNY, eGBP, eCHF, eBTC...
Yeah, I think the base collateral is purely a user protection feature, and so makes sense to be on the frontend.
We've been linked to by most major coin communities. I've seen this posted in multiple spots in the NXT, Bitshares, and Supernet communities. This thread is getting a lot of attention.
There are no built-in functions of Ethereum per say. It is a platform to build on top of, and pegged currencies are one such possibility. Anyone is free to create whatever smart contracts they de...
Good points. I should probably change that bit about "guaranteed profits", it should of course still be seen in light of the risks. The reward in MKR will also have to be quite high to incentiviz...
So do you think regulating the base collateral is fine as long as the margin call threshold is immutable? If the only thing that matters is the margin call rate then the base collateral requireme...
Cool stuff! Not a bad start (bonus points for the solidity code). I'll pick on the riskiest part, as an armchair economist (forgive me, please). > This means that becoming a Liquidity Pa...
That is paid with ether only. But maybe there could be implemented a mechanism for buying an ether refund with each transaction. Then the user would only have to buy a small amount of ether in or...
Is this a function of Ehtereum and users can build their own customized pegged currencies by themselves?
When I spend the eDollars, do I still need to use ethers to pay for the transaction fees or I can use the eDollars to pay for the transaction fees?
The 300% base collateral is not really the number that you need to pay more attention to; it's the 150% margin call threshold where the black swan risk lies. You could theoretically cut the base ...
Lol im so with you
What do you think is the optimal way to do it then? Just keep it at a constant value? It would actually makes sense for the DAO to prefer this, since it derives its income from the collateral. ...
> Over time Maker should analyze the volatility of ether and > continously adapt the collateral requirements to the circumstances > of the market I would recommend you don't...
300% might also be unnecessarily strict when there are soft margin calls and forced covers. Its simply what bitUSD uses and as such is probably a good starting point. Over time Maker should analy...
Quoting one of my favorite blog posts..."I understand some of the words on this page."
This thread has been linked to from another place on reddit. ] Introducing eDollar ] Introducing eDollar, the ultimate stablecoin built on Ethereum Ifyoufollowanyoftheabovelinks,respect...
Hmm, this actually looks exactly like the version of schellingcoin that I came up with during discussions with Dominic Williams (the specific discovery being requiring the margin-caller to supply...
I know it's early and you still need to add etherex support as well. Just fyi on some Solidity optimizations. You can declare public variables now, so you don't need to craft your own getter func...
As someone who's been obsessed with pegged cryptocurrencies for the past 6 months, I was delighted to find out that even with just my meager programming skills, developing for Ethereum is so incr...
https://www.reddit.com/r/ethereum/comments/30f98i/introducing_edollar_the_ultimate_stablecoin_built/