Author Topic: S&P 500, Dow and other indexes as smart assets  (Read 375 times)

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Offline btsindex

S&P 500, Dow and other indexes as smart assets
« on: April 09, 2018, 10:34:01 am »
We've created 3 new smart-assets: INDEXSPX (S&P 500), INDEXDJI (Dow Jones Industrial Average), INDEXNASDAQ with a precision of 8, paired them with BTS.
The script that gets latest index values, calculates price and pushes it to the blockchain is ready. Two separate 24/7 working servers are also ready to run the script. 
The question is how to do everything right? Should we convert the indexes to BTS price according to BTS/USD rate or just push the index value?

For example: Dow is 23,932.76 at the moment. Should we push 23,932 BTS or 23,932 / 0.144462 (USD/BTS rate)

Any other recommendations until its not too late?

Thanks!  :)
« Last Edit: April 09, 2018, 10:44:03 am by btsindex »

Offline sschiessl

Re: S&P 500, Dow and other indexes as smart assets
« Reply #1 on: April 09, 2018, 11:36:50 am »
Hello btsindex,

who is we in that case? Please consider the permission discussion in https://bitsharestalk.org/index.php?topic=26068.0.
Also, the price should reflect actual FIAT price of the asset.


Offline zapata42

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Re: S&P 500, Dow and other indexes as smart assets
« Reply #2 on: April 09, 2018, 01:54:02 pm »
We've created 3 new smart-assets: INDEXSPX (S&P 500), INDEXDJI (Dow Jones Industrial Average), INDEXNASDAQ with a precision of 8, paired them with BTS.
The script that gets latest index values, calculates price and pushes it to the blockchain is ready. Two separate 24/7 working servers are also ready to run the script. 
The question is how to do everything right? Should we convert the indexes to BTS price according to BTS/USD rate or just push the index value?

For example: Dow is 23,932.76 at the moment. Should we push 23,932 BTS or 23,932 / 0.144462 (USD/BTS rate)


Both are valid.

It depends what do you intend to sell.. do you want to guaranty the Dow performance against USD or BTS.

Actually buyer expect to perform against USD. That's why BTWTY and SNPFH express it in USD (publish feed = index price / USD/BTS rate).

Note that you can use BitUSD as collateral, and publish the index price unchanged.


Offline pc

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Re: S&P 500, Dow and other indexes as smart assets
« Reply #3 on: April 09, 2018, 07:19:59 pm »
We've created 3 new smart-assets: INDEXSPX (S&P 500), INDEXDJI (Dow Jones Industrial Average), INDEXNASDAQ with a precision of 8, paired them with BTS.

Should we push 23,932 BTS or 23,932 / 0.144462 (USD/BTS rate)

Since you have paired them with BTS you *should* calculate and publish the index price in BTS, i. e. 23,932 / 0.144462 .
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Offline btsindex

Re: S&P 500, Dow and other indexes as smart assets
« Reply #4 on: April 10, 2018, 09:26:20 am »
Thank you! It seems that pushing a price feed reflecting a USD value in BTS is a good idea.
Assets permissions is also important topic. Thanks!

Offline btsindex

Re: S&P 500, Dow and other indexes as smart assets
« Reply #5 on: April 10, 2018, 12:51:22 pm »
More general question - can we trust feed-producers we don't know? https://bitsharestalk.org/index.php?topic=26273.0