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Erkan-Yilmaz / Gridcoin-tasks

tasks, wishes, ideas, ... for the Gridcoin project
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Once Bitshares has implemented fixes, reset the GRIDCOIN MPA! #51

Closed grctest closed 7 years ago

grctest commented 7 years ago

https://github.com/bitshares/bitshares-core/issues/216 https://bitsharestalk.org/index.php/topic,23334.msg299146.html#msg299146

TL;DR: The GRIDCOIN MPA suffered a 'blackswan' event, where a massive pump on Poloniex (upper double digit rise) then a subsequent dump a couple days later caused the collateral backing the GRIDCOIN MPA tokens to be insufficient & the BTS system locked the asset.

Turns out there wasn't the ability to unlock/reset the asset after the blackswan event, this has resulted in further development to the Bitshares network (and will require a hard fork on their network!).

Once the fixes are in place, I will reset the MPA & we'll be back in fully decentralized business! 👍

grctest commented 7 years ago

https://github.com/bitshares/bsips/blob/master/bsip-0017.md BSIP is still listed as a draft, it might be a while before we get the 'GRIDCOIN' MPA operational again. Given the volatility of GRC's price we may repeatedly encounter 'blackswan' events though..