Equilibrium’s Smart Contracts: Some Updates For New Functionality

August 16, 2019
Equilibrium’s Smart Contracts: Some Updates For New Functionality

The smart contracts that drive the Equilibrium framework have been updated to provide users with new exciting features and opportunities. Here’s what you need to know.

Our rates contract has been updated for price feed redundancy.

We are in the process of becoming a dApps service provider (DSP) with the help of our partner dApp network, LiquidApps.

In preparation for price feed redundancy, we’ve refactored our rates table to include rates from multiple sources. We’ve also added support for different currencies, so users can go beyond USD for their rate calculations. Our queries table now shows the source of each quote, and we may add new sources there if we continue to diversify.

Our next steps on this front include implementing an on-chain rates medianizer in cases when one or several data sources become unavailable or outdated.

We’ve added on-chain margin call logic.

This not only speeds up the margin call process, but it allows for further reduction of the collateralization requirements and liquidation penalty at the same time. Our eosdtcntract has a new table called “ltvratios” that updates on every action — it contains the current collateralization ratios for all system positions sorted in ascending order.

A new on-chain margin call function checks the top position in this table on every action, automatically liquidating it when its collateralization falls below the critical level. This feature will significantly reduce the burden for arbitrators.

More explanations on how to use this new functionality for your daily trading are coming soon!

There you have it — the latest updates to the software that enables this entire system. EOSDT continues to make strides in its mission to be the first decentralized stablecoin that makes locked assets productive.

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