But the actual value of the assets referenced makes it more like:
Would something like this work?
1) Issue an IOU (like METAEX.BTC)
2) Sell IOU in the DEX for bitBTC at a -10x% premium (e.g. 1.1 METAEX.BTC = 1.00 bitBTC)
3) Offer bitBTC to buyers at a 2*x% premium (eg. 1 BTC = 0.98 bitBTC)
That way you can take 11% loss and hand over 1% to those buying an IOU backed by "real" BTC.
I really don't intend any offence but there are a lot of proposals for work flows like this floating around that don't take actual market price into account. If a trading algorithm requires 2 non-fungible markets to exist at parity it doesn't really work.
ex:
1) take $1 to bank and exchange for 10 US dimes
2) trade each dime for 1oz gold eagle
3) sell gold coins to pawn shop for $1200 each
4) profit $1199
This doesn't provide liquidity to the dime:gold coin market, and if you artificially fund a "market maker" with a basket of gold coins and set them the task of providing liquidity you will end up very quickly with a pile of dimes.
(bonus: this is why gov. subsidies/interference in industries don't work)