Crate pallet_gilt[−][src]
Expand description
Gilt Pallet
A pallet allowing accounts to auction for being frozen and receive open-ended inflation-protection in return.
Overview
Lock up tokens, for at least as long as you offer, and be free from both inflation and intermediate reward or exchange until the tokens become unlocked.
Design
Queues for each of 1-QueueCount periods, given in blocks (Period). Queues are limited in
size to something sensible, MaxQueueLen. A secondary storage item with QueueCount x u32
elements with the number of items in each queue.
Queues are split into two parts. The first part is a priority queue based on bid size. The
second part is just a FIFO (the size of the second part is set with FifoQueueLen). Items are
always prepended so that removal is always O(1) since removal often happens many times under a
single weighed function (on_initialize) yet placing bids only ever happens once per weighed
function (place_bid). If the queue has a priority portion, then it remains sorted in order of
bid size so that smaller bids fall off as it gets too large.
Account may enqueue a balance with some number of Periods lock up, up to a maximum of
QueueCount. The balance gets reserved. There’s a minimum of MinFreeze to avoid dust.
Until your bid is turned into an issued gilt you can retract it instantly and the funds are unreserved.
There’s a target proportion of effective total issuance (i.e. accounting for existing gilts) which the we attempt to have frozen at any one time. It will likely be gradually increased over time by governance.
As the total funds frozen under gilts drops below FrozenFraction of the total effective
issuance, then bids are taken from queues, with the queue of the greatest period taking
priority. If the item in the queue’s locked amount is greater than the amount left to be
frozen, then it is split up into multiple bids and becomes partially frozen under gilt.
Once an account’s balance is frozen, it remains frozen until the owner thaws the balance of the account. This may happen no earlier than queue’s period after the point at which the gilt is issued.
Suggested Values
QueueCount: 300Period: 432,000MaxQueueLen: 1000MinFreeze: Around CHF 100 in value.
Re-exports
pub use pallet::*;