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Implement alternative black swan response methods #2499
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to reduce the number of levels of nested if, for, or while statements
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Settle undercollateralized debt position when unable to match with a limit order
and fix individual settlements: always check limit orders again after individually settled some debt positions
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This was referenced Oct 10, 2021
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PR for #2467.
1. Main feature:
black swan response methods
- different behaviors when a black swan event occurs, configurable by bitAsset ownersglobal_settlement
(the default method)All debt positions are closed, all or some collateral is moved to a global-settlement fund.
Debt asset holders can claim collateral via force-settlement.
It is not allowed to create new debt positions when the fund is not empty.
no_settlement
aka "Global Settlement Protection"No debt position is closed, and the derived settlement price is dynamically capped at the collateral ratio of the debt position with the least collateral ratio so that all debt positions are able to pay off their debt when being margin called or force-settled.
Able to adjust existing debt positions or create new debt positions.
individual_settlement_to_fund
Only the undercollateralized debt positions are closed and their collateral is moved to a fund which can be claimed via force-settlement. The derived settlement price is capped at the fund's collateral ratio so that remaining debt positions will not be margin called or force-settled at a worse price.
Able to adjust existing debt positions or create new debt positions.
individual_settlement_to_order
Only the undercollateralized debt positions are closed and their collateral is moved to a limit order on the order book which can be bought. The derived settlement price is NOT capped, which means remaining debt positions could be margin called at a worse price.
Able to adjust existing debt positions or create new debt positions.
2. Additional features
witness_fed_asset
) can be configured on UIA viaasset_update_operation
3. API changes
asset_settle_operation
is now a new typeextendable_operation_result
Tasks: