@pc is correct. Market Pegged Assets against a thinly-traded token are a recipe for disaster and abuse. I would not recommend having this price feed managed by the elected Bitshares witnesses.
When you say not managed by witnesses, would you be more comfortable with it being managed by a committee instead?
No, not by the official BitShares committee. That wouldn't be any better. What I had in mind was a private group providing the feed, to absolve BitShares itself of any liability in case of abuse.
Yeah, I don't think that handing control of price feeds to a private/unknown un-elected group is appropriate.
Ultimately, I don't think witnesses are liable in any case of abuse, especially when they're reporting legit price feeds (unlike if they were to provide fake price feeds).
If witnesses are liable for external abuse of legit price feeds then that's a risk that witnesses have acknowledged by becoming a witness in the first place.
I'm willing to vote for witnesses that do decide to provide the GRIDCOIN MPA price feeds.
I've changed the GRIDCOIN MPA variables:
I've reduced the required quantity of price feeds from 7 to 1.
Changed the "Force settlement delay" to 1 week.
Set the "Max force settle vol" to 0.1%
Just spotted there is the ability to disable forced settlement too, could enable that to take forced settlement out of the equation.. but I assume that would be bad because that would then mean that if the price tanked or soared then you would still have the coins you purchased at a high/low value, so yeah probably not going to do that as long as there is no manipulation of the Gridcoin market.
I have disabled the following permissions (
first MPA to do so!) so that I have less power over the GRIDCOIN MPA:
Require holders to be white-listed
Issuer may transfer asset back to himself
Issuer must approve all transfers
Disable confidential transactions