Author Topic: how does globel settlle work?  (Read 1111 times)

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Offline alt

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how does globel settlle work?
« on: December 07, 2015, 03:13:15 am »
I'm testing global settle in a private network.
after I ask for global_settle_asset, the asset is still there, how will this work?
if there is a delay, how to change the delay?(I have set force_settlement_delay_sec to 0)

and I have some questions about the details:
1. if the asset is in a market order, will global settle cancel the order automatic?
2. if the asset is another asset's short backing asset, how to handle the asset's which currently in the collatereal?

Offline alt

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Re: how does globel settlle work?
« Reply #1 on: December 07, 2015, 01:51:57 pm »
seems global_settle_asset just open a switch to allow all holders ask for a settlement
the settlement will not really happen until the holders ask  for settlement

so I am wondering if there is a method to ask for a global settlement?
I want to run a business like prediction market

Offline xeroc

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Offline alt

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Re: how does globel settlle work?
« Reply #3 on: December 07, 2015, 03:07:28 pm »
Maybe this helps:
https://bitshares.org/doxygen/structgraphene_1_1chain_1_1asset__global__settle__operation.html

you may need to manually construct your transaction:
http://docs.bitshares.eu/bitshares/tutorials/construct-transaction.html
I think it's the same with  rpc call global_settle_asset from the cli_wallet, right ?
this seems just open a switch, allow holders to ask for settle
but if the holders don't ask for a settlement, the short possition will still be there.
and do you know how to disable the global_settle_asset after I have enable it?

Offline bytemaster

Re: how does globel settlle work?
« Reply #4 on: December 07, 2015, 07:50:29 pm »
Global Settlement is for Prediction Markets and is the Equivalent of a Manual Black Swan that cannot be reset.
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline xeroc

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Re: how does globel settlle work?
« Reply #5 on: January 12, 2016, 03:09:34 pm »
Global Settlement is for Prediction Markets and is the Equivalent of a Manual Black Swan that cannot be reset.
[member=5]bytemaster[/member]: I tried to work out the PM mechanics and after publishing a price feed for an asset that has "is_prediction_market" flag set to true, it automatically set the "global_settle" flag (which is fine)
However, I could NOT settle
Code: [Select]
  "current_feed_publication_time": "2016-01-12T14:49:00",
  "options": {
    "feed_lifetime_sec": 1209600,
    "minimum_feeds": 1,
    "force_settlement_delay_sec": 10,
    "force_settlement_offset_percent": 0,
    "maximum_force_settlement_volume": 10000,
    "short_backing_asset": "1.3.0",
    "extensions": []
  },
  "force_settled_volume": 0,
  "is_prediction_market": true,
  "settlement_price": {
    "base": {
      "amount": 20000000,
      "asset_id": "1.3.7"
    },
    "quote": {
      "amount": 20000000,
      "asset_id": "1.3.0"
    }
  },
  "settlement_fund": 20000000
}

Instead, i can request settlement as often as I want .. just nothing happens ..

//edit: interestingly .. settle asset does not result in a transaction to be put on the chain ??? just a signed transaction .. no broadcast :(
//edit2: False alarm .. seems my cli wallet did something wrong .. All is fine and PMs are working great ... docs coming today
« Last Edit: January 12, 2016, 04:08:12 pm by xeroc »
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Offline abit

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Re: how does globel settlle work?
« Reply #6 on: January 12, 2016, 10:21:28 pm »
All is fine and PMs are working great ... docs coming today
Great thanks for the efforts!  +5%
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