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raiden-network / light-client

The Raiden Light Client
https://raiden.network/
MIT License
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Set ratetoSVT as a default for DAI, WETH and TTT #1874

Open christianbrb opened 4 years ago

christianbrb commented 4 years ago

Description

Set ratetoSVT as a default for DAI, WETH and TTT

See the following sheet with historic rates: https://docs.google.com/spreadsheets/d/1U1vOtUQdavuEHAXQ33p9WyTuViaHzL4s9Dnd9ejJBhE/edit#gid=569930139

The DAI/WETH thresholds the python team is using can be found here: https://github.com/raiden-network/raiden/commit/041aa1bb2eb6adbeb150e4428a6dfd7f38d1a190#diff-14a4915b775dfbab039e080a28553d78L91

I think we can safely remove the approach implemented in #1705

Acceptance criteria

Tasks

Why do this?

Protects the client from having funds wasted by small transfers triggering monitoring rewards. In order to do a comparison the costs must be known.

christianbrb commented 4 years ago
taleldayekh commented 4 years ago

@christianbrb discuss with management which values should be used before we can make the code changes which is a simple change.

christianbrb commented 4 years ago

Trying to describe my process to make it reproducible

Process collecting the data:

  1. I have pulled the historical rates for WETH/USD, DAI/USD and RDN/USD to this google sheet.
  2. I have done the calculation for eg. DAItoSVT like this -> DAItoSVT = DAItoUSD / RDNtoUSD

We have got the following possibilities if the rates are changing: a. If the ratetoSVT is going to be higher than the current value we run into the risk that the monitoring reward the user is paying is higher than the current capacity. b. If we the ratetoSVT is going to be lower than the current value we run into the risk that the user is losing more tokens than he would have to pay for the monitoring reward.

I would rather go with option a than b. Therefor I am going to add a quite high safety margin to the default as the values are fluctuating quite a lot.

Max/Avg DAIratetoSVT WETHratetoSVT
Max 12,29518072 2106,736712
Average 5,60189866 1426,450214

I would go with the following rates: DAI - ratetoSVT: 40 WETH - ratetoSVT: 8000

@andrevmatos Any thoughts or remarks? If not, you can go ahead and implement this.

taleldayekh commented 3 years ago

Only needed if we don't implement the automated ratetoSVT #1513.