[ecash-agora] Improve approximation for USD-esque tokens
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Authored by tobias_ruck on Oct 24 2024, 21:48.

Details

Reviewers

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Group Reviewers

Restricted Project

Summary

Currently, the token parameter approximation is really imprecise for "normal" amounts for USD amounts.

For example, if someone offers 50 BUX tokens for $1 each (at $0.00003425/XEC), the actual price (for the maximum accepted amount) currently is $1.06/BUX, which is really imprecise, and precludes for any actual market discovery.

A quick fix is really simple: We just bump minTokenScaleFactor from 1000 to 10000, which trades off token amount precision in favor of price precision.

After this change, for the the same 50 BUX at $1 (for the maximum accepted amount), the actual price is $1.000017, which is much more precise (and the minimum is $1.0001).

minTokenScaleFactor parameter has been mostly chosen at random anyway (1000 being a "nice" number), but now with a real application, we can start to tune approximation to be more user friendly.

The tradeoff is that users won't be able to offer exactly 50 BUX, but instead 49.9968 BUX. and in 0.0256 BUX increments, but it's a reasonable assumption that users care more about price granularity than acceptable amount granularity.

The long term solution is to bump Script integers to 64-bits, which would make approximation so precise that we don't really have to worry about it.

Test Plan

npm test && npm run integration-tests

Diff Detail

Repository

rABC Bitcoin ABC

Branch

ecash-agora-improve-approximation

Lint

Lint Passed

Unit

No Test Coverage

Build Status

Buildable 30822
Build 61157: Build Diff	cashtab-tests · ecash-agora-tests · ecash-agora-integration-tests
Build 61156: arc lint + arc unit

Event Timeline

tobias_ruck created this revision.Oct 24 2024, 21:48

Herald added a reviewer: Restricted Project. · View Herald TranscriptOct 24 2024, 21:48

Harbormaster completed remote builds in B30822: Diff 50410.Oct 24 2024, 21:52

Build Bitcoin ABC Diffs / Diff Testing (cashtab-tests) failed.

Failed tests logs:

====== CashTab Unit Tests: <Token /> available actions rendered We can list an SLP1 fungible token ======
TestingLibraryElementError: Unable to find an element with the text: List VSP?. This could be because the text is broken up by multiple elements. In this case, you can provide a function for your text matcher to make your matcher more flexible.

Ignored nodes: comments, script, style
<body>
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              <div>
                Unable to create Agora offer with these parameters, try increasing the min buy.
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                Token Test
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            <div
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              <button
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          <div
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             ...
    at Object.getElementError (/work/cashtab/node_modules/@testing-library/dom/dist/config.js:37:19)
    at /work/cashtab/node_modules/@testing-library/dom/dist/query-helpers.js:76:38
    at /work/cashtab/node_modules/@testing-library/dom/dist/query-helpers.js:52:17
    at /work/cashtab/node_modules/@testing-library/dom/dist/query-helpers.js:95:19
    at Object.getByText (/work/cashtab/src/components/Etokens/__tests__/TokenActions.test.js:387:23)

Each failure log is accessible here:
CashTab Unit Tests: <Token /> available actions rendered We can list an SLP1 fungible token

tobias_ruck edited the summary of this revision. (Show Details)Oct 24 2024, 21:57

Please update the ecash-agora README changelog section with a link to this diff and a quick summary of what's going on

bytesofman mentioned this in D16995: [ecash-agora] Improve approximation for USD-esque tokens.Oct 24 2024, 23:15

bytesofman mentioned this in rABCf9a22eecb934: [ecash-agora] Improve approximation for USD-esque tokens.Oct 24 2024, 23:33

superseded by D16995