Author Topic: Creating new Smartcoin  (Read 353 times)

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Offline ElMosso

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Creating new Smartcoin
« on: April 02, 2018, 09:39:25 pm »
Hi people,

I want to introduce a new smartcoin, however i have an question about the value of the smartcoin.

The smartcoin i want to create will be derivated from an index. The value of the index is constantly changing and i want this also in BitShares.
I have already read some informatie about witnesses and Price feed, but it is still unclear.  So, is it possible to change the value of a smartcoin once it is created?
When the answer is yes, how can this be done?

Thanks in advance.


Offline zapata42

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Re: Creating new Smartcoin
« Reply #1 on: April 02, 2018, 10:39:52 pm »
The value of the index will be provided by the market.
Te value of the collateral to put to issue your Smartcoin will be feed by the witness.
The witness will use their own algorithm and data source to produce and publish that price.
They can get the information from an external source such as another market, or compute the price throug a formula (aka Algorithmic Based Asset like HERO or HERTZ).
You can have a look at Bit20 technical description or slides 5 there.

Edit: Note that you don't need to rely on witnesses to publish the price, you can do it from any authorized account (to configure on the smartasset configuration page)
 
« Last Edit: April 02, 2018, 10:41:59 pm by zapata42 »

Offline ElMosso

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Re: Creating new Smartcoin
« Reply #2 on: April 03, 2018, 05:16:01 pm »
Thanks for your reaction.

Furthermore, Do you have any tips for creating an ETF on the bitshares network? And what are importante cases die creating a smartcoin?

Offline abit

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Re: Creating new Smartcoin
« Reply #3 on: April 03, 2018, 05:17:03 pm »
Thanks for your reaction.

Furthermore, Do you have any tips for creating an ETF on the bitshares network? And what are importante cases die creating a smartcoin?
https://bitsharestalk.org/index.php?topic=25994.0
BTS account: abit
BTS committee member: abit
BTS witness: in.abit