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Main => General Discussion => Topic started by: cylonmaker2053 on February 27, 2016, 03:58:55 pm

Title: How can you force settlement for a smartcoin?
Post by: cylonmaker2053 on February 27, 2016, 03:58:55 pm
I just saw this video @JonnyBitcoin about how to profit from forced settlement: https://www.youtube.com/embed/psN-hhDcBrY

Mechanically, how can you force settle a smartcoin? I've never seen an option to do that for any of the markets i trade (USD, BTC, SILVER). Of course, i wouldn't want to force settle when i'm buying above settlement, but it'd be nice to know how to do that in case things ever got crazy...
Title: Re: How can you force settlement for a smartcoin?
Post by: xeroc on February 27, 2016, 04:42:44 pm
click the asset in the overview! there is the settle link:
(http://i.imgur.com/aG6teDI.png)
Title: Re: How can you force settlement for a smartcoin?
Post by: cylonmaker2053 on February 27, 2016, 05:39:03 pm
Quote from: xeroc on February 27, 2016, 04:42:44 pm
click the asset in the overview! there is the settle link:
(http://i.imgur.com/aG6teDI.png)

cool, thanks! Can you choose to settle a subset of holdings, or is it all-or-nothing? What happens technically during settlement? Someone shorted that amount of smartcoin into existence, so is the settlement a reversal where that counterparty's short position is forced closed, collateral released, settlement value delivered to asset holder and remainder released to the short party?
Title: Re: How can you force settlement for a smartcoin?
Post by: xeroc on February 27, 2016, 07:14:24 pm
you can define how many you want to settle ..

the short positions with LEAST collateral will be used for settlements .. you essentialy buy THEIR collateral AT feed price .. but note the delay of 24h for smartcoins
Title: Re: How can you force settlement for a smartcoin?
Post by: cylonmaker2053 on February 27, 2016, 07:30:31 pm
Quote from: xeroc on February 27, 2016, 07:14:24 pm
you can define how many you want to settle ..

the short positions with LEAST collateral will be used for settlements .. you essentialy buy THEIR collateral AT feed price .. but note the delay of 24h for smartcoins

wow, that's kind of amazing...didn't know that functionality was there.
Title: Re: How can you force settlement for a smartcoin?
Post by: woodygar on February 28, 2016, 01:24:31 am
yeah watched the video as well but could not find the option to settle thanks